Real Energy to accelerate Windorah
OIL and gas explorer Real Energy has raised $2.34 million through a share placement to accelerate exploration at its flagship Windorah gas project in the Cooper Basin, QLD.
The company said it had commenced a plan to drill two additional appraisal wells – Tamarama 2 and 3.
Real Energy managing director Scott Brown said the funding raised was a strong vote of confidence in Windorah and the company’s growth strategy.
“We are very encouraged by the performance of the Tamarama-1 well to date, and it clearly demonstrates that we potentially have a large gas resource at the Windorah project,” Mr Brown said.
“This reinforces our belief that the gas resource at Windorah is very significant, and as such, we are keen to drill Tamarama-2 and 3 to prove up the deliverability of the project as soon as possible.
“We positioned the company to take advantage of this [gas crisis] and our aim is to very quickly prove up at least 1 trillion cubic feet of gas and make this available for domestic markets.”