WestSide Corporation Limited (ASX code: WCL) is a publicly listed Brisbane-based Coal Seam Gas (CSG) producer with gas production, significant reserves and exploration interests in Queensland.
The Company is strategically well positioned to take advantage of the potential value of its resources from marketing opportunities to downstream industrial applications and access to Australia's domestic gas market.
WestSide operates the Meridian SeamGas CSG gasfields 160km west of Gladstone in Queensland's Bowen Basin in joint venture with Mitsui E&P Australia. The Company holds a 51 per cent interest with Mitsui E&P Australia holding the remaining 49 per cent.
The Meridian joint venture executed a binding 20-year gas sales agreement in March 2014 with the GLNG project at Gladstone for the sale of up to 65 Terajoules a day at market prices based on an oil-linked formula - underpinning a staged field expansion to increase production.
WestSide also holds 25.5 per cent joint venture interests with QGC and Mitsui E&P Australia in other CSG projects with exploration and appraisal programs currently underway at the Paranui, Tilbrook and Mount Saint Martin pilots in Queensland's Bowen Basin.
WestSide has a strong board, skilled management and is committed to operating a safe and sustainable business.