to start drilling ..., page-9

NB:POSTED BEFORE BY GROG MAN 8/3/2011 (SMALL CHNAGES HOWEVER GROG MAN GETS THE CREDIT HERE)Grog Man are you stil around? what are yout thoughts?

TPL : EMERGING THERMAL COAL PLAY IN THE CANNING BASIN, QLD & MONGOLIA (well now we know its just WA, Canning Basin)

TPL is worth looking at now as it is capitalising on the early mover advantage in the Canning Basin, WA. Other coal company?s in the Canning basin are REY and CUL.

Although it is early days for TPL and it is high risk some points to think about are below. Please note this information is to the best of my knowledge.

Initial drill targets identified on 3 tenements and will be drilled at the end of the Kimberley wet season once it dry?s out which the company advises will be september (2011 this never happened??). TPL is targeting near surface, quality bituminous thermal coal such as that found by Rey (Source: TPL ASX Ann 21 Dec 2010)

TPL has 11 tenements approved (2779km2) of 61 applied for in the Canning Basin. (Source: ASX TPL Qtrly 1 Jan 2011). Most of these tenements were applied for at least 12 months ago. Some 36 were recommended for grant. Further approvals must be imminent. (Source: TPL ASX Ann 27 May 2010, TPL ASX Qtrly 31 Jan 2011, TPL ASX Ann 22 Feb 2011)

One of largest land positions in Canning Basin 14,000km2 (if applications approved). Rey has only 8000km2, Cullen 4500km2 (Source: TPL ASX Investor Presentation 2 Nov 2009)

Active coal region likely only 20km of 600km strike investigated so far (Source: TPL ASX Investor Presentation 2 Nov 2009)

Actively looking for acquisitions coal opportunities in Mongolia and Queensland Galilee Basin. (not any more)

Acquired 100% of 32km2 (called Mount Tutah) in the Northeast Galilee Basin. With total strike estimated 14km and Conservative target of 140 - 500 mill tonnes of thermal coal in emerging world class coal district. Historic coal seam intersections totalling 15-20m (Source: ASX Announcement 21 feb 2011)

Recently granted Qld tenement is approx 100km from proposed railway line to Abbot Point Terminal. (Source: ASX Announcment 21 feb 2011)

Potential for future, significantly larger ship loading facilities with the WA Govt supportive of the development of a deep water port just north of Derby.

Land adjacent to REY resources which have defined 500mt thermal coal (approx.) with a exploration target of 11-13bt coal within 300mt of surface. (Source: TPL ASX Investor Presentation 2 Nov 2009)

REY resources has recently been re-rated with SP rising more than 300% in the last 4 months ... as it increases in value "Nearology" will become more of a feature of TPL's SP IMO

Close to India/China in terms of shipping time. Canning Basin is 6-9 days closer by ship to India and China than coal shipped from QLD (Source: ASX TPL Qtrly 31 Jan 2011)

Mark Gunther CEO is Ex Atlas mining exploration manager and was responsible for the managing the discovery and resource delineation of over 180 million tonnes of direct shipping iron ore and 2 billion tonnes of magnetite resource. (gone)

Independent expert reports insitu coal volumes between 188-50 Bill Tonnes of coal in the Light jacket Formation. (Source: OBL ASX Investor Presentation 7 Dec 2010)

Drilling in vicinity of surface Outcrops.

Cash $1.675m approx at end of last quater, so will probably need more cash for drilling. Current burn rate is about $100 000 per month. Cash would be required for new acquisitions.

Corporate activity, REY has be subject to takeover attempt, AFA Group backed by Chinese, BRU Sign $140m deal with Japanese. How long before TPL becomes a target? Drill results ?

Possible underground coal gasification potential as well as open cut mining potential for coal (thermal), depending on depth of coal.

Local Government seems to be pro mining.