East Condamine Resources: Significant Proppant Sand Opportunity Strategically Located In Surat Basin Queensland
A unique investment opportunity in strategically located fracking sand resource
Overview
- East Condamine Resources (ECR) seeking expression of interest for Share Sale Transaction inclusive of technical data, test results, tenures and documentation
- ECR holds Exploration Permit for Minerals (EPM) over area of identified strategically located sand deposits in the Surat Basin
- Joint Ore Reserves Committee (JORC) Inferred Resource of 1,500,000 tonnes based on minimal drilling / test holes
- Understood to be only API certified proppant sand in Queensland
- Estimated that over 650,000 tonnes of frac proppant used annually within 160km radius of ECR EPM
- Current market value $500 to $550/tonne for screened material
Proppant sand fundamental to the coal seam and shale gas sectors
Proppant market underpinned by ongoing substantial CSG drilling programs
- Santos in Queensland alone drilled a record 393 wells FY 2019, a 29% increase
- Expectation of greater than 900 wells per year for a sustained period betw
een major and mid tier producers. - Coal seam wells can consume over 3,000 metric tonnes of proppant sand each.
- Around 40% of all Surat Basin wells require proppant sand
Exploration Permit in prime Surat Basin location
JORC Inferred Resource and API certified proppant sand
Expected excellent financial returns
Exploration Tenure Granted and low risk development pathway
- EPM covering 20 blocks
- Low cost expenditure commitments over 4 years
- Environmental Authority in place
- Opportunity to develop via a Development Approval or Mining Lease
- Freehold land interests with no Native Title requirements for bulk of EPM
Sales Process Overview
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