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I GNITE E NERGY R ESOURCES L IMITED Discussion with VPELA April 16, 2013 1.

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Presentation on theme: "I GNITE E NERGY R ESOURCES L IMITED Discussion with VPELA April 16, 2013 1."— Presentation transcript:

1 I GNITE E NERGY R ESOURCES L IMITED Discussion with VPELA April 16, 2013 1

2 2 W ORLD S CALE E NERGY R ESOURCE - V ICTORIA ’ S E NERGY S ECRET Victoria:The world’s largest & cleanest lignite resource – 430 billion tonnes in place – Around 40 billion tonnes mineable at $5 - $10 per tonne – Energy content bigger than North West Shelf Percentage of world’s lignite: Victoria25% USA20% China12% Serbia 9% Germany 4% Victoria’s Competitive Advantage - Clean Energy Security Beyond Peak Oil 2

3 EL 4416 3

4 E XPLORATION L ICENCE 4416 O NSHORE N ATURAL G AS (CSG) EL 4416 is a very large tenement, 3,600 km 2, occupies the bulk of the onshore Gippsland basin There is a well documented large lignite resource in EL 4416 o Has significant quantities, 16 billion tonnes on mineable lignite o Has some 200 billion tonnes of deeper lignite seams. There is good evidence to suggest that this deeper lignite has the potential to contain a significant resource of onshore natural gas Current activities relate to the assessment of the potential to produce onshore natural gas from these lignite seams We are in the exploration phase, not the production phase 4

5 Victorian Onshore Natural Gas is Different Methane gas is found in most coals worldwide and has been known as a hazard in underground mining since mining began Methane is generated in coal by both biogenic and thermogenic processes Gas in low grade coals is primarily classified as biogenic Methane derived from Victorian lignites is different to that derived from CSG operations in QLD and NSW IER’s pilot site at Burong (Seaspray) produced agricultural quality water in contrast to the high salt content water in QLD and NSW Important to recognise that this is a new source of water – it is derived from the lignite seams not from the acquifers 5

6 Regulatory Issues In contrast to all other States, operations in Victoria are regulated under the MRSDA, not the Petroleum Act Planning, environmental and associated regulation in Victoria are robust and will protect landowner and community interests o Approved Work Programme o Environment Management System o Occupational Health & Safety Management Plan o Emergency Response Management Plan o Cultural Heritage Management Plan IER welcomes this level of regulation and has no difficulty in working within the MRSDA and associated regulations Onshore Natural Gas projects present different challenges to normal minerals development projects because of the extensive nature of these operations 6

7 Landowners & Access There is a major community misunderstanding regarding the rights of access to properties for minerals exploration and development Landowner access must be based on: o Fair compensation o Open and transparent communication o Respect for Landowner’s property o Minimising disruption o Rehabilitation of Landowner’s property The big issue is “social licence to operate” – CSG development has become politicised 7

8 The agricultural sector, water use and energy development can coexist 8

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