Brisbane, Australia (ABN Newswire) - WestSide Corporation Limited (ASX:WCL) (OTCMKTS:WBRIF), a unique company with producing assets, a binding gas sale agreement and significant additional uncommitted reserves.

GLNG Gas Sale Agreement

- Clear path to commercialisation

- Supported by reliable producing asset with existing infrastructure base

- Provides flexibility and long term security

Significant and uncommitted reserves from the Meridian SeamGas fields

- Substantial quality reserve base for commercialisation beyond the GLNG Gas Sale Agreement

- Drilling and well improvement programs to increase productivity

Paranui, Tilbrook and Mount Saint Martin - existing reserves and potential upside

- Paranui - existing reserves, exploration potential and clear commercialisation options

- ATP688P - certified reserves - regional gas demand

Further exploration upside

- Track record in successful reserves growth

Positive economics

- GSA revenue linked to oil price; uncontracted gas exposed to rising wholesale gas prices

- Potential development scenarios indicate relatively modest funding for significant future cash flows

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About WestSide Corporation Limited:

WestSide Corporation Limited is an ASX-listed company (ASX:WCL) with gas production and significant uncontracted gas reserves and exploration interests in Queensland.

WestSide operates the Meridian SeamGas CSG fields west of Gladstone in Queensland's Bowen Basin. The Meridian gas fields comprise a range of CSG assets including a petroleum lease, gas rights in mining leases and gas compression and pipeline infrastructure connected to Queensland's commercial gas network. WestSide holds a 51% interest in the fields with Mitsui E&P Australia Pty Ltd holding the remaining 49%.

Elsewhere in the Bowen Basin, WestSide is currently operating an exploration and appraisal program at the ATP 769P (Paranui) and ATP 688P (Tilbrook and Mount Saint Martin) sites. WestSide holds a 25.5% interest in the tenements with Mitsui E&P Australia Pty Ltd (24.5 %) and QGC (50%). WestSide also has a 51% operating interest in two Galilee Basin (Queensland) tenements (ATP 974P and ATP 978P) covering an area of over 13,280 sq km, with Mitsui E&P Australia Pty Ltd holding the remaining 49% in each.



Source:

WestSide Corporation Limited



Contact:

WestSide Corporation Limited
T: +61-7-3020-0900
F: +61-7-3020-0999
WWW: www.westsidecorporation.com