In 2006 Carbon Minerals made the strategic purchase of the 212 hectare rural property "Glasserton", adjacent to the Company's discovery
biogenic coal seam gas well, ACM Georges Island #1. As is clearly discernible from the satellite image, the property (red boundary)
comprises an elevated and timbered area in the west - part of the feature known as Georges Island - and an area of rich floodplain
soil in the east where crops are grown under a contract farming arrangement. The elevated country is used for cattle agistment
from time to time.
The highly encouraging Glasserton DDH1 drilled by Santos in 2009 is located in the western section of the
property.This well intersected more than 8 metres of highly permeable coal in the Hoskissons seam at 315 metres, showing in excess
of 5 cubic metres per tonne (raw basis) of >90% methane gas. This result confirmed potential of the region.
A single
well pilot at Glasserton - Glasserton #2 - has been proposed on the elevated country adjacent to Glasserton #1. This is a concession
to community concerns regarding an multi-well pilot originally proposed on the property.
There has not been, nor is there
planned, any seam gas production trialling on the floodplain areas which are underlain by the important shallow aquifers used for
domestic and irrigation purposes.
Carbon's "Glasserton" Property