Global Oil & Gas Limited (ASX: GLV) (Global or Company) is pleased to announce that it has entered into a Services Agreement with Havoc Services Pty Ltd, an operating subsidiary of Havoc Partners LLP (Havoc) to provide corporate advisory and technical exploration services to assist GLV in developing its 4,858km2 Technical Evaluation Agreement (TEA) offshore oil and gas block in Peru (GLV 80% working interest).
Highlights
The Havoc team has led, and participated in, highly successful oil and gas exploration in various frontier offshore projects, discovering more than 2 billion barrels of oil equivalent (boe) and raising more than US$1 billion in investment capital through their role as the founders of UK listed Fusion Oil & Gas and Ophir Energy plc, as well as Harmattan Energy Limited and various other ventures.
More recently, Havoc’s wholly owned subsidiary Harmattan Energy was the Operator of PEL 90 in the Orange Basin, Namibia immediately adjacent to the giant discoveries made by Shell and Total. Harmattan was sold to Chevron late in 2022.
The Perth-based Havoc team for the Tumbes TEA project comprises Dr Alan Stein, Dr Richard Higgins and Mr Mark Sofield. Dr Stein will lead the Havoc team and will be appointed as a Senior Advisor to the Global Board. He has more than 30 years’ experience in the international oil and gas industry. Dr Stein was one of the founding partners of the London and Perth based geoscience consultancy IKODA Limited and was the founding Managing Director of Fusion Oil & Gas plc, Ophir Energy plc and Calima Energy Limited.
Fusion was listed on the UK AIM market in 2000 and made several discoveries offshore Mauritania before being sold in 2003. In early 2004, following the sale of Fusion, Dr Stein was one of the founding executive directors of Ophir Energy plc which was listed on the London Stock Exchange (LSE) in 2011 for more than £1 billion – then the largest Exploration and Production (E&P) IPO in LSE history. Ophir, as operator spearheaded by Dr Stein and his team, made several material discoveries offshore Equatorial Guinea and Tanzania in excess of 18 trillion cubic feet of natural gas.
Ophir’s highly successful exploration teams were overseen by Mr Mark Sofield as Ophir’s Exploration Manager, West Africa and Dr Richard Higgins as Ophir’s Exploration Manager, East Africa.
Dr Stein and the Havoc team will provide co-ordination and, where required, direction of geoscience activities undertaken in the TEA, support and assistance to the Company’s technical team, input into the proposed work programs as well as assistance with the preparation of marketing and promotional materials to support the Company in securing investor support and/or additional joint venture partners.
The remuneration for the services to be provided by Havoc will consist of a monthly retainer of $10,000 excl GST, 25,000,000 GLVOA listed options (4c strike, Expire 31 Dec 2025) vesting after 6 months of service and the performance rights (subject to good leaver provisions) listed below.
Note - The proposed issue of listed options and performance rights are subject to shareholder approval under ASX Listing Rule 7.1.
Director Scott Macmillan commented:
“The Havoc team are highly experienced and have an outstanding track record in identifying, discovering and monetising oil and gas assets from all over the globe, particularly in frontier basins. Havoc bring a wealth of experience to the Company by virtue of the sheer number of oil and gas projects, developments and transactions they have successfully completed and are a perfect fit to assist with the development of the Company’s Tumbes TEA.
Global is very pleased to welcome Havoc to the team and looks forward to the next step in the development of the TEA.”
Click here for the full ASX Release
This article includes content from Global Oil & Gas Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
(TheNewswire)
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L'équipe Charbone servira de conseiller expert auprès d'un groupe financier privé malaisien pour le développement et la construction de leur première usine de production modulaire et évolutive dans la région Asie-Pacifique.
Brossard (Québec) TheNewswire - le 25 juin 2025 - CORPORATION CHARBONE HYDROGÈNE (TSXV: CH OTCQB: CHHYF, FSE: K47 ) (« Charbone » ou la « Société »), une rare compagnie cotée en bourse spécialisée dans la production et la distribution d'hydrogène vert en Amérique du Nord, a le plaisir d'annoncer la signature d'une entente-cadre de collaboration avec Green Hydrogen ASIAPAC SDN BHD pour soutenir le déploiement de leur première usine phare de production de dihydrogène ultrapur (UHP) en Malaisie, basée sur le modèle modulaire et évolutif de Charbone. Cette approche de production de distribution décentralisée, destinée aux utilisateurs finaux, s'inscrira dans un nouvel écosystème durable en Malaisie et pourrait être étendue à la région Asie-Pacifique, où Charbone pourrait mettre à profit son expertise.
Grâce à cette entente de collaboration, Charbone apportera son expérience dans divers domaines du développement, de la construction et de l'exploitation d'un projet complet. Cela comprend, entre autres, le choix du site, l'interconnexion, les contrats d'achat et de vente d'électricité, la conception initiales (FEED), l'ingénierie et le financement du projet, ainsi que l'identification et la sélection des fournisseurs appropriés, notamment pour les équipes d'ingénierie, et les équipements de production et de distribution.
Charbone partagera sa vaste expérience et ses connaissances acquises au cours des cinq dernières années et les monétisera. En retour, elle diversifiera et augmentera ses sources de revenus grâce à une approche collaborative qui sera reproduite avec d'autres partenaires et pays de la région, au bénéfice de ses actionnaires, ardents supporteurs du modèle Charbone depuis des années.
L'entente de collaboration permettra à Charbone de percevoir une rémunération unique, payable en espèces ou investie dans le projet. Charbone négocie actuellement des accords et des arrangements similaires avec d'autres partenaires dans différentes régions du monde.
" Cette entente reconnaît tous les efforts déployés par Charbone au cours des cinq (5) dernières années pour créer un modèle d'écosystème durable qui fonctionne dans le monde réel et pas seulement sur le marché nord-américain , a dit Dave Gagnon, Président et chef de la direction de Charbone. Il continue, " Quand on regarde le marché actuel de l'hydrogène, on se rend compte que les deux marchés les plus prometteurs sont l'Amérique du Nord et l'Asie-Pacifique, que nous commençons maintenant. "
" Nous sommes ravis d'officialiser cette collaboration stratégique avec Charbone. Leur approche modulaire et décentralisée éprouvée s'inscrit parfaitement dans notre vision d'accélérer l'adoption de l'hydrogène vert en Malaisie et dans la région Asie-Pacifique. En tirant parti de l'expertise et des capacités de conseil uniques de Charbone, nous sommes convaincus de pouvoir réaliser un projet de production de haute qualité, évolutif et durable, qui servira de modèle pour les développements futurs , a dit Kamshul Kasim, Président exécutif de Green Hydrogen ASIAPAC SDN BHD. Il continue, " Ce partenariat marque une étape importante dans notre engagement à contribuer à la transition énergétique propre de la Malaisie et à nous positionner à l'avant-garde de l'économie émergente de l'hydrogène vert dans la région . "
À propos de Charbone Hydrogène Corporation
Charbone est une entreprise intégrée spécialisée dans l'hydrogène ultrapur (UHP) et la distribution stratégique de gaz industriels en Amérique du Nord et en Asie-Pacifique. Elle développe un réseau modulaire de production d'hydrogène vert tout en s'associant à des partenaires de l'industrie pour offrir de l'hélium et d'autres gaz spécialisés sans avoir à construire de nouvelles usines coûteuses. Cette stratégie disciplinée diversifie les revenus, réduit les risques et augmente sa flexibilité. Le groupe Charbone est coté en bourse en Amérique du Nord et en Europe sur la bourse de croissance TSX (TSXV: CH); sur les marchés OTC (OTCQB: CHHYF); et à la Bourse de Francfort (FSE: K47). Pour plus d'informations, visiter www.charbone.com .
Énoncés prospectifs
Le présent communiqué de presse contient des énoncés qui constituent de « l'information prospective » au sens des lois canadiennes sur les valeurs mobilières (« déclarations prospectives »). Ces déclarations prospectives sont souvent identifiées par des mots tels que « a l'intention », « anticipe », « s'attend à », « croit », « planifie », « probable », ou des mots similaires. Les déclarations prospectives reflètent les attentes, estimations ou projections respectives de la direction de Charbone concernant les résultats ou événements futurs, sur la base des opinions, hypothèses et estimations considérées comme raisonnables par la direction à la date à laquelle les déclarations sont faites. Bien que Charbone estime que les attentes exprimées dans les déclarations prospectives sont raisonnables, les déclarations prospectives comportent des risques et des incertitudes, et il ne faut pas se fier indûment aux déclarations prospectives, car des facteurs inconnus ou imprévisibles pourraient faire en sorte que les résultats réels soient sensiblement différents de ceux exprimés dans les déclarations prospectives. Des risques et des incertitudes liés aux activités de Charbone peuvent avoir une incidence sur les déclarations prospectives. Ces risques, incertitudes et hypothèses comprennent, sans s'y limiter, ceux décrits à la rubrique « Facteurs de risque » dans la déclaration de changement à l'inscription de la Société datée du 31 mars 2022, qui peut être consultée sur SEDAR à l'adresse www.sedar.com; ils pourraient faire en sorte que les événements ou les résultats réels diffèrent sensiblement de ceux prévus dans les déclarations prospectives.
Sauf si les lois sur les valeurs mobilières applicables l'exigent, Charbone ne s'engage pas à mettre à jour ni à réviser les déclarations prospectives.
Ni la Bourse de croissance TSX ni son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n'acceptent de responsabilité quant à la pertinence ou à l'exactitude du présent communiqué.
Pour contacter Corporation Charbone Hydrogène :
Téléphone bureau: +1 450 678 7171 | ||
Courriel: ir@charbone.com Benoit Veilleux Chef de la direction financière et secrétaire corporatif |
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
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The CHARBONE team will serve as expert matter advisors to a private Malaysian financial group for the development and construction of their first modular and scalable production facility in the Asia-Pacific region.
Brossard, Quebec TheNewswire - June 25, 2025 Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) (the "Company" or "CHARBONE "), North America's only publicly traded pure-play company focused on green hydrogen production and distribution, is pleased to announce that it has executed a Master Collaborative Agreement with Green Hydrogen ASIAPAC SDN BHD to support the deployment of its first dihydrogen Ultra High Purity (UHP) production flagship facility in Malaysia, based on the CHARBONE modular and scalable model. The decentralized distributed approach for end-users will be part of a new sustainable ecosystem in Malaysia and could eventually be extended to the Asia Pacific region, where CHARBONE could leverage its expertise.
Through the collaboration agreement, CHARBONE will provide experience in various areas of a complete project development, construction, and operation of the facility. This includes, but is not limited to, site selection, interconnection, power purchase and offtake agreements, front-end engineering and design (FEED), project financing, and the identification and selection of appropriate suppliers, such as engineering, production, and distribution equipment.
CHARBONE will share its extensive experience and knowledge gained over the last five years and monetize it. In return, it will diversify and increase its revenue stream through a collaborative approach that will be replicated with other partners and countries in the region, benefiting its shareholders who have been strong supporters of the CHARBONE model for years.
The Collaborative Agreement will provide CHARBONE with a single one-time fee that can be paid in cash or invested in the project. CHARBONE is currently negotiating similar agreements and arrangements with other partners in different regions of the globe.
" This agreement recognized all the efforts that CHARBONE has deployed over the last five (5) years to create a sustainable ecosystem model that works in the real world and not only in the North American market ," said Dave Gagnon, President and CEO of Charbone. He continued , " when you look at the current hydrogen market, you do realize that the two most promising markets are North America and Asia-Pacific, which we are starting now. "
" We are delighted to formalize this strategic collaboration with CHARBONE. Their proven modular and decentralized approach aligns perfectly with our vision to accelerate the adoption of green hydrogen in Malaysia and the wider Asia-Pacific region. By leveraging CHARBONE's unique expertise and advisory capabilities, we are confident that we will deliver a high-quality, scalable, and sustainable production project that will serve as a blueprint for future developments ," said Kamshul Kasim, Executive Chairman of Green Hydrogen ASIAPAC SDN BHD. He continued , " this partnership marks a significant milestone in our commitment to contribute to Malaysia's clean energy transition and to position ourselves at the forefront of the emerging green hydrogen economy in the region. "
About CHARBONE Corporation
CHARBONE is an integrated company specialized in Ultra High Purity (UHP) hydrogen and the strategic distribution of industrial gases in North America and the Asia-Pacific region. It is developing a modular network of green hydrogen production while partnering with industry players to supply helium and other specialty gases without the need to build costly new plants. This disciplined strategy diversifies revenue streams, reduces risks, and increases flexibility. The CHARBONE group is publicly listed in North America and Europe on the TSX Venture Exchange (TSXV: CH), the OTC Markets (OTCQB: CHHYF), and the Frankfurt Stock Exchange (FSE: K47). For more information, visit www.charbone.com .
Forward-Looking Statements
This news release contains statements that are "forward-looking information" as defined under Canadian securities laws ("forward-looking statements"). These forward-looking statements are often identified by words such as "intends", "anticipates", "expects", "believes", "plans", "likely", or similar words. The forward-looking statements reflect management's expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Corporation's Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .
Contact Charbone Hydrogen Corporation | |
Telephone: +1 450 678 7171 | |
Email: ir@charbone.com Benoit Veilleux CFO and Corporate Secretary | |
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Additionally, signs of cooling economic growth in China and renewed trade war anxiety between the US and China further pressured market sentiment. As concerns over a trade war and energy tariffs subsided, prices were able to rally through the rest of May and June to hold in the US$78.42 and US$77.19 range for Brent and WTI, respectively.
Now approaching the year-to-date high level global strife and potential supply constraints are adding support.
During an International Energy Agency (IEA) presentation, Fatih Birol, executive director of the IEA, addressed the current challenges in the global landscape, particularly the mounting conflict in the Middle East.
“The situation is still unfolding, and there are many uncertainties (about) how and if it is going to have structural impacts on the oil and energy markets,” he said, noting that the IEA would not be speculating.
However, Birol did underscore Iran’s position in the global oil market.
“According to our oil market report, currently, Iran produces about 4.8 million barrels per day (mb/d) of crude, condensate and NGL and exports are around 1.8 mb/d of crude oil and 800,000 b/d of products,” he said. “For now, when we look at the markets, we do not see a major supply disruption.”
Although the regional conflicts have infused uncertainty into markets, longer term fundamentals like supply and demand trends are painting a volatile picture.
As noted in the IEA’s recently released Oil 2025: Analysis and Forecast to 2030 report, supply is likely to outpace demand this year and next.
“Our expectations for demand growth are much less than the supply growth,” explained Birol. “We expect demand this year to grow about 700,000 barrels per day, whereas the supply growth we expect is more than double, about 1.8 mb/d.”
More broadly, the IEA report forecasts global oil demand to rise by 2.5 mb/d between 2024 and 2030, reaching 105.5 mb/d by decade’s end.
However, most of that growth will occur early in the period, with gains slowing after 2026 and dipping slightly by 2030. Weaker economic growth and a shift away from oil use in transportation and power generation are the main factors behind the long term slowdown.
Much of the demand forecast is dominated by powerhouse countries US and China which account for 20 mb/d and 13 mb/d respectively, comprising 33 percent of global demand. As such changes to either country's market can have a large sale effect across the sector.
“When we look at the supply side, global oil production in the last 10 years or so, more than 90 percent of the growth came from the United States. And on the demand side, more than 60 percent of the global oil demand growth came from China,” said Birol. “This came almost parallel and simultaneously.”
Now, again working in tandem, US oil production growth is slowing due to economic and geological factors, while China’s oil demand is also losing momentum as its economy shifts and its transportation sector evolves according to Birol.
Economic concerns are also an issue across the globe, and historically gross domestic product is heavily correlated to oil demand.
Global GDP is expected to grow at an average annual rate of 3 percent through 2030, but that growth is uneven. OECD countries will see slower expansion at 1.8 percent, while non-OECD nations are projected to grow at 3.9 percent.
This global pace falls short of the 2010s trend, with factors like aging populations and reduced globalization weighing on long-term growth and trade.
China’s slowdown is particularly sharp, with its annual GDP growth nearly four percentage points lower than in the previous decade due to structural economic and demographic challenges.
While GDP remains a key driver of oil demand, its influence is fading.
Oil consumption is set to rise in 2025 and 2026 in line with economic growth, but from 2027 onward, demand is expected to plateau and then slightly decline. That shift is being driven by the growing use of alternatives in transportation and power generation.
Despite a projected decline in US output, the IEA expects oil supply to remain robust in other regions.
“We expect between now and 2030, about 5 mb/d of additional production capacity,” the CEO of the IEA remarked.
“A big chunk of it is coming from what we call the American quintet, namely US, Brazil, Canada, Guyana and Argentina. These five countries will bring a lot of oil to the markets.”
Providing a more detailed look at the supply picture, Toril Bosoni, head of oil industry and markets division at the IEA reiterated that global oil supply is on track to outpace demand through 2030, offering a stabilizing force in an otherwise uncertain energy landscape.
As Bosoni explained, supply is expected to grow by 1.8 mb/d in 2025, a trend largely being driven by non-OPEC+ countries, particularly in the Americas.
Additionally, natural gas liquids are playing an increasingly important role in this growth, as US shale production shifts focus and Saudi Arabia expands its gas-linked output.
“Looking into the next year, from 2025 until 2030 we can see that the United States is still a big source of supply growth, but the pace of growth is much slower than what we have seen for the past decade, and it's largely driven by gas liquids, as activity in the shale patch is slowing down and getting more into the gas side,” said Bosoni.
IEA data projects total global oil supply capacity to rise by about 5 mb/d by the end of the decade. Most of this growth will come from outside OPEC, and is closely aligned with rising demand for petrochemical feedstocks, such as ethane and naphtha, which bypass the traditional refining process.
However, traditional crude supply is expected to see only modest gains unless additional projects—many of which have yet to reach a final investment decision—move forward.
The refining sector, meanwhile, may face increasing pressure as fuel demand flattens and high-cost plants, particularly in Europe and parts of Asia, become less competitive.
Despite slowing demand, the coming years are expected to bring ample supply—helping to buffer against geopolitical shocks and lending some reassurance to markets amid broader global economic headwinds, Bosoni added.
The natural gas markets faced heightened volatility through H12025, driven by several key factors. A milder-than-expected winter in major consuming regions like the US and Europe led to weaker heating demand, pushing prices lower early in the year.
However, Q2 saw a rebound as unseasonably hot weather in Asia and parts of North America boosted cooling demand. Supply disruptions, including maintenance delays at major LNG export facilities in the U.S. and Australia, further tightened markets.
Starting the year at US$3.65 per metric million British thermal units, prices rose to a H1 high of US$4.49 in March, before falling to a H1 low of US$2.99 in late April.
Geopolitical tensions, particularly instability in the Middle East affecting shipping routes, added upward pressure through May and June pushing prices back above US$4.00 by mid-June.
Natural gas price performance, December 19, 2024, to June 19, 2025.
Chart via The Investing News Network.
Natural gas liquids (NGLs) are emerging as a major driver of global oil supply growth through the end of the decade, with output forecast to rise by 2 mb/d to 15.5 mb/d by 2030, according to the IEA.
Much of this increase will come from North America and the Middle East, which will account for nearly half of all global supply gains over the next five years.
As noted in the report, the surge is being fueled by rising production from lighter, gas-rich fields and unconventional reserves.
The US, already the top NGL producer, will increase output from 6.9 mb/d in 2024 to 7.8 mb/d in 2030. Saudi Arabia is set to boost production from 1.4 mb/d to 2 mb/d over the same timeframe, while Canada will add 300,000 b/d.
This expanding supply is feeding demand for petrochemical feedstocks like ethane, propane and butane, vital in the production of everything from plastics to clean cooking fuel.
Ethane demand alone is expected to climb by 610,000 b/d to 5.2 mb/d by 2030, while LPG consumption is forecast to rise by 1.3 mb/d to 11.8 mb/d. Asia—led by China and India—will account for more than 65 percent of global LPG demand growth.
The rise of NGLs also poses a long-term challenge to traditional refining, as many of these products bypass refining altogether. With petrochemical demand outpacing that for transportation fuels, refiners may face margin pressure and shutdown risks, particularly in high-cost regions like Europe and parts of Asia.
Despite slower year-over-year growth, the IEA sees NGLs playing an increasingly vital role in shaping the future energy mix. This is supported by the 216 percent increase in production the NGL sector has seen over the past decade.
“From 2014 to 2024, global NGLs production grew by 4.3 mb/d to 13.6 mb/d. NGLs will rise by a further 2.0 mb/d to 15.5 mb/d in 2030, with average annual growth slowing to 2.3 percent over the forecast period, from 3.9 percent during the previous decade,” the report read.
Much of the IEA’s outlook falls inline with the short term price projections the US Energy Information Administration released in May, which forecast the average price for Brent crude to be US$66 in 2025 and US$59 in 2026. While natural gas prices will rise from an average US$4.10 in 2025 to US$4.80 in 2026.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Coelacanth Energy presents strong growth potential in the Canadian light oil and natural gas sector with encouraging well test results, a robust infrastructure buildout, and a management team with a track record of repeated success, making it a compelling growth story.
Coelacanth Energy (TSXV:CEI) is a junior oil and natural gas exploration and development company, focusing primarily on the prolific Montney region in northeastern British Columbia, Canada. With a substantial landholding of approximately 150 net sections in the Two Rivers area of Montney, Coelacanth is strategically positioned to harness the potential of one of the most resource-rich natural gas basins in North America.
Coelacanth distinguishes itself with a two-pronged strategy: near-term production growth and long-term resource development. Supported by advanced geological delineation and a robust infrastructure buildout, the company is poised to scale efficiently as it transitions from exploration to production.
Backed by a management team that has built and sold six successful oil and gas companies, Coelacanth is focused on delivering returns through disciplined capital deployment and operational execution.
The Montney Formation spans British Columbia and Alberta and is known for its high levels of recoverable natural gas and liquids. Montney has attracted numerous large oil and gas producers, including companies like Canadian Natural Resources (CNQ), Shell, ARC Resources (ARX), Tourmaline Oil Corp (TOU), and ConocoPhillips (COP). The presence of such large players highlights the importance of this region in contributing to both the Canadian and global energy markets.
Coelacanth’s landholdings are strategically located in the Two Rivers area of Montney, giving it access to a highly productive portion of the basin. Unlike many junior exploration companies, Coelacanth is drill-ready, positioning it favorably among its peers. By securing significant infrastructure and landholdings, Coelacanth ensures its ability to tap into the natural gas and oil resources that lie beneath its properties, a key advantage in the competitive Montney region.
The Two Rivers Montney development is the cornerstone of Coelacanth’s growth strategy. This multi-zone resource play features Lower, Upper, Basal and Middle Montney formations, offering significant running room for future development. The company has drilled and tested nine wells on the 5-19 pad (seven Lower Montney, one Upper, one Basal), yielding impressive flush production test rates totaling more than 11,000 boe/d, on a combined basis. Some wells tested at over 1,200 boepd with 50 percent light oil, highlighting strong liquids yields.
Two Rivers Asset Advantage
Two Rivers East started first production in June 2025, with production to be systematically ramped up over the summer. This production is supported by a new Phase 1 facility capable of processing 30 mmcf/d of gas and associated oil. Phase 2, planned for late 2025, will double capacity with added compression.
The Two Rivers West project, already in production, complements the East project with upside in the Upper Montney and delineation potential across additional benches. Test wells have demonstrated commercial deliverability and support long-term production sustainability.
Coelacanth has secured long-term gas takeaway for its growing production base. The company holds firm commitments for up to 100 mmcf/d of natural gas takeaway capacity and has secured processing capacity of up to 60 mmcf/d at a third-party facility. Oil and condensate produced from the Montney light oil window can be trucked to regional terminals or connected via infrastructure to major hubs including Fort Saskatchewan, Edmonton and Prince George.
On the gas side, Coelacanth has egress options through pipelines such as NGTL, Westcoast and Alliance, and is strategically positioned to benefit from future access to LNG Canada via the Coastal GasLink system.
Rob Zakresky has a significant background in the oil and gas sector, previously serving as the president and CEO of Leucrotta Exploration as well as five additional predecessor companies. He has been with Coelacanth Energy since its inception and is recognized for his strategic leadership and focus on enhancing shareholder value. His expertise in financial management and operations is reflected in his approach to driving the company's growth.
Bret Kimpton joined Coelacanth Energy in 2022, bringing a wealth of experience from his previous role as vice president of production at Storm Resources, where he contributed to significant production growth. He has a strong background in construction and operations, especially in the Montney region of British Columbia, managing various fields. His role at Coelacanth focuses on overseeing operational efficiency and implementing the company's growth strategies.
Nolan Chicoine has also been with Coelacanth Energy since its inception. His responsibilities encompass financial oversight, including financial planning, reporting, and analysis. He plays a crucial role in aligning the financial strategies with the company's operational goals. His background includes significant experience in financial management as CFO for Leucrotta Exploration, Crocotta Energy, and Chamaelo Energy.
Jody Denis is the former drilling, engineering & operations engineer at Leucrotta Exploration. Prior to that, he was senior operations advisor at Black Swan Energy, drilling manager at ARC Resources, and drilling and completions manager at Birchcliff Energy.
John Fur is the former manager, exploration of Leucrotta Exploration, and former senior geophysicist at Crocotta Energy, Chamaelo Energy, Chamaelo Exploration, Viracocha Energy, Canadian Natural Resources, Post Energy, Amber Energy and Husky Oil.
