L&M Energy (ASX: LME) has intersected less than 4 metres of coal seams at its Washpool-1 coal seam gas well in New Zealand.
The company said this would be confirmed during wireline testing.
The previous Taratu-1 well intersected about 23 metres of the Kai Main coal seam and 12 metres of the Carson seam. L&M had recovered 47 canisters of coal for further analysis including measurement of gas content and saturation levels.
Washpool-1 is the third of 5 wells the company is drilling to provide sufficient data to determine the CSG potential of the Kaitangata area.
Kaitangata is ideally placed to supply power to agricultural and domestic users in the Dunedin area as well as compressed natural gas, making it easy for L&M to develop a commercial project.
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