The directors of Magnum Gas & Power Limited are pleased to advise an update on the NEB 352-1-005 (W005) borehole, part of Magnum's Botswana CBM exploration program. Laboratory testing of the gas samples taken from the core samples has shown that the gas composition is dominated by methane (95%+).
Magnum has informed the Botswana Ministry of Mines, Energy and Water Resources that a discovery of Coal
Bed Methane has been made on the Company prospecting licences.
This result is very important to Magnum as it is a significant step towards the company's goal of certifying gas
reserves within the Karoo Basin. The coals of the Karoo Basin are known to potentially contain significant
quantities of CBM.
The results help confirm Magnumís modelling and expectations of the basin and the companyís exploration
acreage. The results support Magnumís plans regarding additional exploration drilling, the focus of the next
drilling being primarily on two of the nearby Central Project Area blocks.
Further testing and analysis operations are ongoing, with further results expected over coming weeks.
For more information about related Opportunities and Key Players visit Coalbed Methane (CBM)