Australian Gas Light buying CBM interests

By OGJ editors
HOUSTON, June 23 -- Australian Gas Light Co. is buying BHP Billiton's
Australian coalbed methane (CBM) interests for $68.7 million.

The main asset being sold is BHP Billiton's 50% interest in the Moranbah Gas Project in the Bowen basin in Queensland. The project is a joint venture between BHP Billiton and CH4 Gas Ltd.

BHP Billiton is also assigning its interests in the exploration permit ATP-364-P and the various contracts associated with its Australian CBM interests to AGL.