Project Resource Assessment

Resources

Our current global resource targets include:

Project Commercial Target1
(Million Tonnes)		 JORC Resource2
(Million Tonnes)		 Recoverable Gas3 (Pj)
Queensland, Australia   668 6,680
Mulpun, Chile4   103 1,100
Wyoming, United States 500 By Dec 12 5,000
TOTAL 500 771 12,780

In line with our strategy Carbon Energy continues to build our portfolio of coal assets. We have built a key selection criteria for selecting resource which includes, deep coal resource suitable for keyseam, located close to routes to markets and where there is high demand for UCG syngas products.

Criteria Description
Coal resource Suitable for keyseam.
Location Close to routes to markets.
Market Market demand for UCG Syngas products (e.g. power, chemicals, liquid fuels) at attractive prices.
Revenues and profits can be repatriated to Australia.
Regulation A regulatory pathway for UCG projects.
Counterparty A strong counterparty that brings additional capability to projects (e.g. coal resources, capital, access to markets).
Sovereign Risk Clear legal framework to protect commercial interests.
Ability to repatriate profits to Australia.
Strong environment and safety standards.

Notes

  1. Carbon Energy target
  2. JORC compliant – Competent Person: Dr C. Mallett
  3. Carbon Energy calculation based on estimated energy content of the coal and 50% recovery (that takes into account pillars, losses and a gasification efficiency of 80%)
  4. Carbon Energy has the right to a 30% contributing interest in Chile deposit upon completeion of agreed milestones.