FDE has received the long-awaited Bleue Lorraine concession (>191 km2) to develop coalbed methane (CBM) in Lorraine, France. The company de-risked the CBM acreage with prior drilling and has been waiting years for permits to develop the gas. In 2018, reserve auditor MHA, certified FDE’s permit area to contain ~137bcf (43TWh or 22mmboe) of 2P recoverable gas or 236bcf on a 3P basis and independently valued it at €318mm (equivalent of €61/sh) at a gas price of €28/MWh. There is also contingent res ....
