AGL announces increased Bowen Basin gas reserves

AGL Energy Limited (AGL) today announced that it has increased its total proved plus probable (2P) gas reserves entitlement for ATP 1103 as at 31 August 2013 to 968 petajoules (PJ), an increase of 100 PJ (11.5%) over the past eight months.

Arrow Energy, the operator of ATP 1103, engaged independent reserves evaluation company Netherland, Sewell & Associates, Inc (NSAI) to reassess reserves and resources prior to the end of 2013 to meet relinquishment requirements for the tenement under Queensland Government legislation.

There are no other changes to AGL’s reserves and resources reported on 28 August 2013, other than field depletion owing to gas sales.

Further details are included in Appendix A.

About AGL

AGL is one of Australia's leading integrated renewable energy companies and is taking action toward creating a sustainable energy future for our investors, communities and customers. Drawing on 175 years of experience, AGL operates retail and merchant energy businesses, power generation assets and an upstream gas portfolio. AGL has one of Australia's largest retail energy and dual fuel customer bases. AGL has a diverse power generation portfolio including base, peaking and intermediate generation plants, spread across traditional thermal generation as well as renewable sources including hydro, wind, landfill gas and biomass. AGL is Australia's largest private owner and operator of renewable energy assets and is looking to further expand this position by exploring a suite of low emission and renewable energy generation development opportunities.