Northern France reserves increased by +43% by DMT
H1 17/18 revenues grew to €3.4m, pulled by the gas-to-power generation activity of Gazonor in Northern France, which contributed more than €2m with its first four units.
The company has generated positive cash flows since August and has confirmed its targets for the year: strong revenue growth and an improvement in profitability.
Moreover, DMT has certified LFDE’s reserves of coal mine methane (the gas from the former coal mining galleries) in Northern France. 2P reserves (proven and probable reserves, i.e. where volumes are accessible and commercial under economic conditions) have been increased by 43%, to 9.2bn m3.
The increase in coal mine methane reserves underlies the potential for further growth in the Northern France gas-to-power business.
In Lorraine (Eastern France), the production tests for coalbed methane at Lachambre continue. The first results confirmed the potential for economically viable production.
The AlphaValue Corporate Services analysts are AlphaValue’s sector specialists. Their robust knowledge of the business models in their sectors enables the rapid generation of incisive, relevant research and advantageous interaction with the management teams.