The post sent to potential investors said Waldgrave has 60 to 100 PJ “potential resources,” and its permits cover nearly 700 square kilometers.
The flyer made it clear that PZE Ltd is still working out its future. Growth opportunities included in bullish exploration, M&Potential, hydrogen, carbon use and storage, degassing from mines, reforestation and carbon credits, and the like.
The publication said its initial focus will be on the redevelopment and decarbonization of Waldegrave targeting Scope 1 and 2 emissions, using CCS and reforestation.
The prospectus said the company was seeking $6.5 million to $7.5 million for a pre-IPO increase, and $10 to $15 million for next year’s IPO. PKF Corporate Finance is listed in Sydney as an advisor.
The main playing field has been the gas market in Australia’s east coast, and the massive gas shortages expected if LNG exporters continue to export all excess gas supplies on top of long-term supply agreements.
In the eyes of PZE Ltd, this means higher gas prices under tight domestic and international supply conditions, and the need for new projects such as Waldegrave to supply the system.
Key stats for Australia’s east coast gas market: Waldegrave, located in the Surat Basin in Queensland west of Brisbane and formerly owned by Armor Energy, has 100 per cent stakes in six permits. AFR
from San Jose News Bulletin https://sjnewsbulletin.com/surat-basin-gas-play-pze-ltd-offers-pre-ipo-raise-to-investors/
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