Next Fuel, Inc. (OTCQX:NXFI), announced that it has signed an agreement to proceed with a pilot-scale project for enhanced production of coalbed methane in India
Next Fuel, Inc. (OTCQX:NXFI), announced that it has signed an agreement to proceed with a pilot-scale project for enhanced production of coalbed methane in India.
As quoted in the press release:
Under the agreement, Next Fuel will conduct a pilot project at Visat’s site in Gujarat, India to produce CBM (natural gas) using the Company’s proprietary biogenic coal-to-gas (CTG) technology. Visat will conduct the testing in an area where it has completed CBM wells but has not documented any methane production. Upon achieving certain goals, Next Fuel and Visat have agreed to discuss a long-term partnership to expand the commercialization of the CTG technology throughout India.
Next Fuel’s President and CTO, Song Jin, said:
India is one of the few countries with abundant deposits of coal that can’t be mined due to technical and economic limitations. Our CTG technology offers a unique opportunity for coal resource owners in India and the region to produce natural gas from those reserves. Based on recently completed laboratory tests utilizing coal samples provided by Visat, we believe that we will be successful in producing fresh natural gas at the site.