L&M Energy

Southern coal bed methane gas explorer L&M Energy will persevere with its Southland efforts despite its recent $3.4 million exploration programme not having identified commercial gas finds.

Southern coal seam gas explorer L&M Energy is a step closer to producing electricity from gas production, with its Ohai pilot project site scheduled to begin generation in early May.

L&M Energy has provided markets with some welcome news it will sell electricity from its Ohai coal-seam gas pilot project to the Tiwai aluminium smelter.

Southern offshore exploration for oil and gas and coal-seam gas around Otago and Southland was updated by OMV New Zealand and listed L&M Energy yesterday, two of the more active explorers in the South.

Coal seam gas explorer L&M Energy has booked a $9.7 million loss for the six months to June, but successful capital raising of $10 million recently has positioned it well to continue its southern exploration.

Coal seam gas explorer L&M Energy has completed a $10 million capital raising programme, having raised $1.4 million from small shareholders.

Dual-listed L&M Energy has announced an offer to shareholders which could raise up to $2.85 million.

Dual-listed L&M Energy shares are expected to remain in a trading halt until next week, when it announces an update on capital-raising.