Petromin Subsidiary Reports Discovery In China

摘要

Petromin Resources Ltd. reports that its 80% owned subsidiary, Terrawest Energy Corp. has discovered a significant gas-bearing shale and multiple coal seams in its LHG 08-03 well which was drilled in November 2008. TWE holds a 47% interest in a production sharing contract with China United Coalbed Methane Corp. Ltd. The project, called Liuhuanggou, is located in Xinjiang province and the PSC is located adjacent to the capital city of Urumqi. The project covers over 162,000 contiguous acres in the southern Junggar Basin. The Junggar Basin is an active hydrocarbon producing area but no shale gas discoveries have previously been announced.