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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: isopatch who wrote (87665)	2/18/2001 6:42:18 PM
From: isopatch	Read Replies (1) \| Respond to of 95453

China reports coalbed methane discovery. "China discovers coalbed methane in Shanxi province By an OGJ Online Correspondent BEIJING, Feb. 15—China United Coal Bed Methane Co. Ltd. (CUCBM) has a major coalbed methane discovery in the southern Qingshui basin of northern China's Shanxi province. The discovery was made in an area of 164 sq km with probable coalbed methane resources estimated at 40.2 billion cu m. Of the total reserves, 21.8 billion cu m are recoverable. The company has drilled 29 exploration wells at the basin, with a single highest well flow of 16,000 cu m. CUCBM plans to establish a coalbed methane production capacity of 1 billion cu m/year within the next 2 years. Qingshui basin covers 24,000 sq km with probable coal bed methane reserves of 6.85 trillion cu m. As of the end of January, CUCBM had signed 11 production-sharing contracts with companies from six countries with total investment of $80 million."