Haliguy
Nov 7, 2007, 1:37 AM
Minister Approves Onshore Coal-Gas Production Agreement
Energy
November 6, 2007 11:30
Nova Scotia's first coal-gas production agreement was approved today, Nov. 6, by acting Energy Minister Murray Scott.
Stealth Ventures Ltd. was granted approval, with conditions, to develop coal-bed methane – also known as natural gas from coal — in the Springhill area of Cumberland County. It is the province's first opportunity for onshore gas development.
"Nova Scotia's onshore is a frontier, but we have great potential, and today, we see it becoming a reality," said Mr. Scott. "A coal-gas production agreement means more investment, and with it comes more jobs, more infrastructure and more prosperity for Springhill and Nova Scotia."
"This is a very exciting day for us," said Stealth Ventures, chief operating officer Derek Krivak. "We hope to set the standard for safe, healthy and environmentally friendly onshore developments."
The production agreement, pending Stealth's approval, covers a 10-year period, with three phases. Additional terms and conditions include:
-- Phase one: Over three years, feasibility studies will be done so Stealth can assess the commercial potential of the coal gas
-- Phase two: Over three years, an evaluation will be done to allow for revisions of the original drilling plans pending phase one results
-- Phase three: Over four years, project will enter full production.
Mr. Scott also announced an advisory committee of community members has been established to provide advice and highlight economic opportunities around coal-gas activity in the area. The committee will meet regularly and has representation from civic, business and community leaders.
Cumberland County has, potentially, 1.2 trillion cubic feet of coal gas and Stealth has already spent $10 million exploring the area.
Stealth Ventures Ltd. is a Canadian oil and gas company that has been acquiring and developing prospects for producing natural gas from coal, or coal-bed methane. It has been exploring in Pictou County and Cumberland County and has an office in Stellarton.
Energy
November 6, 2007 11:30
Nova Scotia's first coal-gas production agreement was approved today, Nov. 6, by acting Energy Minister Murray Scott.
Stealth Ventures Ltd. was granted approval, with conditions, to develop coal-bed methane – also known as natural gas from coal — in the Springhill area of Cumberland County. It is the province's first opportunity for onshore gas development.
"Nova Scotia's onshore is a frontier, but we have great potential, and today, we see it becoming a reality," said Mr. Scott. "A coal-gas production agreement means more investment, and with it comes more jobs, more infrastructure and more prosperity for Springhill and Nova Scotia."
"This is a very exciting day for us," said Stealth Ventures, chief operating officer Derek Krivak. "We hope to set the standard for safe, healthy and environmentally friendly onshore developments."
The production agreement, pending Stealth's approval, covers a 10-year period, with three phases. Additional terms and conditions include:
-- Phase one: Over three years, feasibility studies will be done so Stealth can assess the commercial potential of the coal gas
-- Phase two: Over three years, an evaluation will be done to allow for revisions of the original drilling plans pending phase one results
-- Phase three: Over four years, project will enter full production.
Mr. Scott also announced an advisory committee of community members has been established to provide advice and highlight economic opportunities around coal-gas activity in the area. The committee will meet regularly and has representation from civic, business and community leaders.
Cumberland County has, potentially, 1.2 trillion cubic feet of coal gas and Stealth has already spent $10 million exploring the area.
Stealth Ventures Ltd. is a Canadian oil and gas company that has been acquiring and developing prospects for producing natural gas from coal, or coal-bed methane. It has been exploring in Pictou County and Cumberland County and has an office in Stellarton.