ARROW GETS DIRT IN INDIA

Written on the 22 July 2010

ARROW GETS DIRT IN INDIA

ARROW Energy International (AEI) has acquired two coal bed methane (CBM) blocks in India, as the company moves towards its listing as the separate entity Dart Energy on the ASX.

AEI CEO Simon Potter says the two blocks awarded by the Indian Cabinet Committee on Economic Affairs (CCEA) have high CBM resource potential with good opportunities for early commercialisation if explorations are successful.

“These blocks are highly prospective and are well located in the energy hungry Indian market,” he says.

“The upcoming work on the blocks will allow us to further build on our existing reputation and excellent relationships in the country.”

Arrow will hold a 60 per cent working interest in the Assam block in conjunction with Oil India and an 80 per cent interest in the Satpura block in a partnership with Tata Power.

Tata plans to build a power station in Saputra using gas from the project with Arrow.

After a shareholder vote AEI will likely separate from owner Arrow Energy Limited (AOE) to be listed as Dart Energy, with Potter continuing his role as CEO.

Dart share forecasts have ranged between $0.60 and $1.60.


Latest News

WHY VIDEO IS A "GIVEN" FOR BUSINESS

IN TODAY's digital-driven world, video is king and if used right, it can push a company's brand and brand ...

BRAMBLES TUMBLES AFTER REDUCING GUIDANCE

BRAMBLES (ASX: BXB) will miss its first-half guidance due to cost pressures at its North America business.

The com...

VILLAGE ROADSHOW PARKS HURT BY DREAMWORLD TRAGEDY

QUEENSLAND visitors to Village Roadshow (ASX: VRL) theme parks have declined 12 per cent in the wake of four deaths a...

ASF UNVEILS TRAFFIC PLANS FOR THE SPIT

A SECOND bridge over the Nerang River is the centrepiece of the ASF Consortium's plan to improve traffic flow ...

Related News

CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES will have a new CEO as it takes on a fresh challenger to its crown as the dominant online car sales portal i...

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains m...

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter