Satpura, CBM IV.

On 29 July 2010, Dart Energy was awarded two CBM licences as part of the Indian Government's CBM IV bidding round - Assam (Dart Energy 60% and Oil India Limited 40%) and Satpura (Dart Energy 80% and Tata Power 20%).

In 2011, Dart attained regulatory and environmental approvals to commence the exploration drilling campaign.  The first well of the 15-core hole program was spudded on 23 December 2011. Dart expects the remainder will be completed by end-2012. Contigent on the results, Phase 2 would include a pilot program consisting of 21 wells.

As of 31 December 2011, Netherland, Sewell & Associates Inc. has estimated prospective resources of 959 Bcf on the Satpura block.

Satpura