Real Energy has successfully raised $5 million to progress with the development of the Windorah Gas Project.
The funds from the share placement will be used for ongoing testing and field work on the Tamarama-1, Tamarama-2 and Tamarama-3 gas wells.
Additionally, Real will progress with pre-construction works for a pipeline to transport gas from the wells to Santos’ Mt Howitt gas gathering facility, as well as updating the reserve and resource assessment for the gas field.
Real Managing Director Scott Brown said the project had the potential to supply a substantial amount of gas.
“The Windorah Gas Project has the capacity to be a large productive gas field which could make a very meaningful contribution to eastern states gas markets,” he said.
“The company has made considerable progress with our project in recent months and we are looking to advance the project to production.”
Last month, Real said it was fielding interest from a number of buyers for gas from the project and called for formal expressions of interest to sell up to 5 PJ of gas over a three-year period.
Real holds a 100 per cent interest in the project, located in Queensland’s Cooper Basin.
For more information visit the Real Energy website.
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