Company

Finavera Gas Limited is a private natural resources company based in the Republic of Ireland. The company’s focus is developing its two primary natural gas projects. It has acquired exclusive licences to develop the Lough Allen Natural Gas Field, an area where previous drilling has proved there is gas in the basin. Schlumberger IndigoPool has estimated a P50 in-situ resource of 9.4 trillion cubic feet of gas (1.5 billion barrels of oil equivalent) in two of three reservoirs in the basin. The third reservoir could hold a comparable quantity of gas. A total of twelve vertical wells were drilled in the area between 1960 and 2001 and all had natural gas shows and/or flows. The flow rates were not considered economic at the time. However, historically high gas prices and advanced drilling techniques now make this an extremely attractive prospect. Finavera Gas also is also exploring its Thames Graben prospect which is located in the Southern North Sea, off the coast of England.