US-based exploration and development firm Strata-X Energy has acquired two new prospecting licences for its Serowe coal seam gas (CSG) project in Botswana.
The acquisition adds a 1,646km² area to the project site, which will now span 680,000 acres.
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Known as PL016-2018 and 017-2018, the new licences are valid for an initial period of three years, with an option to secure two-year extensions.
Strata-X Energy board chairman Ron Prefontaine said: “With the new licences, Strata-X now has 680,000 acres in its 100% owned Serowe CSG project, which is located within the Kalahari Basin CSG fairway.
“The new additions provide our shareholders material upside for our proposed appraisal programmes in Botswana.”
Following a review by independent evaluator MHA, the additional acreage is expected to add to the 1.4 trillion cubic feet (Tcf) prospective resource in Strata-X’s existing licences.
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By GlobalDataStrata-X has selected an undisclosed Botswana-based environmental firm to seek the necessary approvals in a bid to begin the appraisal programme, which is designed to prove commercial completion methods and convert resources to reserves.
The company expects to obtain these environmental approvals in Q3 2018.
The proposed appraisal programme will see the use of the latest completion and production methods to yield commercial gas flow rates.
Subsequently, the company will be in a position to convert resources into reserves.
