Persta Enters into Gas Handling Agreement
Expands Persta's natural gas exploration and production capacity from the Voyager area
HONG KONG, May 15, 2019 - (ACN Newswire) - Persta Resources Inc. ("Persta" or the "Company"; stock code: 3395), a specialist in the exploration, development, production and sale of oil and gas with headquarters in Calgary, Alberta, Canada, and Jixing Energy (Canada) Ltd. ("Jixing") have entered into a gas handling agreement (the "Gas Handling Agreement") that involves the Voyager gas gathering system and pipeline. The Gas Handing Agreement will lead to the delivery of natural gas and associated products produced to the Alberta Natural Gas Pipeline System.
| Mr. Le BO, Chairman and Executive Director of Persta, (left) and Mr. Yongtan LIU, Chairman of Jixing Energy (Canada) Ltd. (right) sign the Gas Handling Agreement. |
| Persta work with Jixing Energy (Canada) Ltd. on implementing the 37 km pipeline project and associated surface production facilities, including multi-well batteries and dehydration/ compressor stations. |
| Persta work with Jixing Energy (Canada) Ltd. on implementing the 37 km pipeline project and associated surface production facilities, including multi-well batteries and dehydration/ compressor stations. |
Mr. Le BO, Chairman and Executive Director of Persta Resources said, "After nearly three years of pipeline route selection work, surveying, environmental assessment and public consultations by Persta as part of efforts to achieve regulatory compliance, including a review by Alberta Energy Regulator (AER), the Company has obtained the license for 37 kilometers of pipeline that will connect Persta with the Voyager area, which is where its production facility is located, namely in Basing. We are honored to work with Jixing Energy (Canada) Ltd. on implementing the 37 km pipeline project and associated surface production facilities, including multi-well batteries and dehydration/ compressor stations. The estimated overall investment will exceed C$40 million. As of today, approximately 30% of detailed engineering and design work for the pipeline project has been completed, and the purchase order for line pipes has been placed. Site construction is planned to commence by mid-June 2019, and the pipeline project and associated projects are expected to be completed and operational before the end of 2019." The pipeline will provide Persta's core production area, located in Voyager, with access to NGTL and subsequently the northern markets, which are important for the Company's future growth. Upon completion of the project, not only will the four exploration wells drilled in Voyager between 2017 and 2018 be put into commercial production, but Persta will also have more than 2 billion cubic meters per year (200mmscfd) of regional pipeline transport capacity for large-scale development of the Voyager area. This will lay a solid foundation for the Company's rapid production increase and enhance its cash flow from this area.
About Persta Resources Inc. (stock code: 3395) Headquartered in Calgary, Canada, Persta Resources Inc., specializes in the exploration, development, production and sales of oil and gas. Persta commenced operations in March 2005 with the objective of building a successful Canadian natural gas and crude oil exploration, development and production company with a long-term business strategy. It acquired its first 6,400 net acres of land in an area in the WCSB in January 2007 known as the Alberta Foothills and drilled and commercially produced liquids-rich natural gas from its first deep well in this area in December 2008. Its natural gas and oil production rate has grown organically since then. As at 31 December 2018, it held 118,807 net acres of land in the WCSB, which it intends to explore through drilling in locations listed in its multi-year inventory.
For press enquiries: Strategic Financial Relations Limited Angelus Lau Tel: (852) 2864 4805 Email:angelus.lau@sprg.com.hk Jenny Lam Tel: (852) 2864 4883 Email: jennysy.lam@sprg.com.hk Rita Sin Tel: (852) 2114 4981 Email: rita.sin@sprg.com.hk
Source: Persta Resources Inc. Sectors: Daily Finance, Energy, Alternatives, Daily News
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
Latest Release
JCB enables JCB Contactless acceptance at Taichung MRT in Taiwan Apr 26, 2024 10:00 JST
| Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024 Apr 25, 2024 18:21 JST
| MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park Apr 25, 2024 17:45 JST
| GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series Apr 25, 2024 16:50 JST
| Toyota Exhibiting at Beijing Motor Show 2024 Apr 25, 2024 16:25 JST
| Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada Apr 25, 2024 11:10 JST
| UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh Apr 25, 2024 09:00 JST
| Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date Apr 24, 2024 17:19 JST
| MC and Denka Sign J/V Agreement in Fullerene Business Apr 24, 2024 17:02 JST
| Mitsubishi Motors Posts Record Sales in the Philippines in FY2023 Apr 24, 2024 13:56 JST
| NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance Apr 24, 2024 13:25 JST
| Fujitsu SX Survey reveals key success factors for sustainability Apr 23, 2024 10:25 JST
| Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions Apr 22, 2024 16:09 JST
| NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II Apr 22, 2024 15:09 JST
| Soft Space Launches the First and Only JCB Payment Gateway in Malaysia Apr 22, 2024 15:00 JST
| TOYOTA GAZOO Racing takes a one-two in Croatian thriller Apr 22, 2024 10:47 JST
| First-ever Mazda CX-80 Crossover SUV Unveiled in Europe Apr 19, 2024 13:50 JST
| Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces Apr 19, 2024 10:17 JST
| Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas Apr 18, 2024 17:01 JST
| Toyota Launches All-New Land Cruiser "250" Series in Japan Apr 18, 2024 13:39 JST
|
More Latest Release >>
|