Leigh Creek Energy (LCK) has achieved a major milestone at its groundbreaking Leigh Creek Energy project.
The company recently announced positive results of an independent assessment of their potential resources at Leigh Creek.
The report suggests LCK is among the top mid-level prospective gas producers in the nation at the Leigh Creek site.
The site was assessed to feature a 2,963.9 Petajoule 2C ISG gas resource, which is a significant volume of recoverable energy.
LCK hopes to produce methane and fertiliser from the remnant coal resources at Leigh Creek using in-situ gasification technologies.
It’s a major milestone for LCK with Chairman Justyn Peters suggesting the results mean all the outcomes the company hopes to achieve with the Leigh Creek Energy Project are attainable.
“This PRMS gas resource announcement is an exciting, and important milestone in the development of the Leigh Creek Energy Project,” Mr Peters said.
“(The results) and underpins our original assumption that the LCEP contained significant quantities of recoverable gas from which we intend to produce commercial quantities of gas.
“Independent gas resource certification helps accelerate the LCEP development timetable as it provides added confidence to domestic and international buyers of gas, investors in LCK and future debt providers.”
LCK recently said that they aim to deliver potential 500+ jobs and 150+ long-term positions for regional communities through their projects.
The company is in discussions with companies and potential buyers wishing to purchase gas produced from the site with upfront payments.
LCK enters phase two of the project’s initiation in March, working towards demonstration and flaring gas by late 2016.