Brisbane, Australia, June 11, 2014 - (ABN Newswire) - WestSide Corporation Limited (ASX:WCL) (OTCMKTS:WBRIF) presents their latest investor update. Below is the summary from the presentation.
- Existing production provides stable base for expansion
- GSA provides flexibility, long term security and substantial future cashflows
- Development drilling on track - set up for success
- Financing discussions underway
To view the full presentation, please visit:
About WestSide Corporation Limited:
WestSide Corporation Limited is an ASX-listed company (ASX:WCL) (OTCMKTS:WBRIF) with gas production, significant gas reserves and exploration interests in Queensland.
WestSide operates the Meridian SeamGas gas fields west of Gladstone in Queensland’s Bowen Basin. The Meridian gas fields comprise a range of CSG assets including a petroleum lease, gas rights in mining leases and gas compression and pipeline infrastructure connected to Queensland’s commercial gas network.
WestSide holds a 51% interest in the fields with Mitsui E&P Australia Pty Ltd holding the remaining 49%. The Meridian joint venture has executed a binding 20-year gas sales agreement with the GLNG Project at Gladstone to supply up to 65 Terrajoules of gas a day from 2015 at prices based on an oil-linked formula from 2016.
Elsewhere in the Bowen Basin, WestSide is currently operating an exploration and appraisal program at the ATP 769P (Paranui) and ATP 688P (Tilbrook and Mount Saint Martin) sites. WestSide holds a 25.5% interest in the tenements with Mitsui E&P Australia Pty Ltd (24.5 %) and QGC (50%).
Additional information is available on WestSide’s website: www.westsidecorporation.com
Managing Director & CEO
Chief Financial Officer