Magnum Gas & Power Limited is working to benefit shareholders through the exploration and development of gas production to supply part of the energy requirements within the southern African region. Magnum is currently focused on the exploration and development of coal bed methane resources in Botswana, Africa.
Magnum Gas & Power, through its wholly owned subsidiary Energy Botswana Ltd, has secured a significant portfolio of Botswana prospecting licences over acreage that is prospective for Coal Bed Methane (or ‘Coal Seam Gas’). The portfolio has been focused on the strategic areas of two prospective basins within the vast Kalahari Karoo basin, the Northern Project area being in the Nata region over the “Ngwasha” Basin and the Central Project area being over the “Mmashoro” Basin. A largescale Petroleum exploration licence was awarded in 2012 and desk top studies are underway.
Pre-Feasibility studies completed by Independent consultants have estimated a Gas In Place resource of 12.6 Trillion cubic feet, 6.7 Trillion cubic feet being economically recoverable, over the prospecting licences held by Energy Botswana.
Magnum is focused on defining and expanding certified reserves and is currently progressing initial exploration drilling phases. International knowledge, experience and resources from both USA and Australia is being utilised to supplement the local Botswana and South African capability.
Magnum is also actively pursuing downstream markets and relationships to enable gas off take agreements, essential to Bankable Feasibility Studies and production licences. An independent market study has been completed with positive conclusions.