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Black Mountain Energy (BME) is edging closer to producing gas from its Valhalla project which lies in the Canning Basin of Western Australia.
Black Mountain Energy Non-Executive Director Marie Malaxos discussed the project with investors at the Good Oil and Gas Energy Conference in Perth this week.
“We want to do this right and make sure we have the best chance of success, so we want to get all our planning in place for 2024,” she said.
“We have Government and traditional owner support, but we have to get environmental approvals, we have to look at rig availability and getting equipment and people.
“I wouldn’t be involved if I didn’t think it would be successful, I was involved in this project several years ago – before Black Mountain Energy was involved – and I’ve always thought there’s a great gas reserve that we can get to market. So I’m very passionate about the project.”
Given the project’s proximity to Asian LNG markets, BME has acquired an export exemption from the WA Government in order to export natural gas from the Valhalla gas field.
“I think there’ll be demand for gas a long way into the future. With the energy requirements of the world and in Australia, I think there will be demand,” Ms Malaxos said.
The company held $8 million at the end of last financial year.
BME shares have been trading between six and seven cents.
