coal seam gas agl 37mln deal with ecu

Multi-bagger potential:

COI is excited about the potential of its Australian portfolio. We have identified a
large contingent coal seam gas (CSG) resource at Mahalo (upwards of 1,000 PJ in
place) in the Bowen Basin of Queensland and the two permits in the Galilee Basin
in central Queensland are prospective for coal seam gas and also deeper
conventional oil and gas. We have recently conducted some resource estimates
(that need additional drilling and further data to confirm) that suggest that the
Permian coals in the Galilee Basin offer potential for in excess of 35,000 PJ of gas.
With their proximity to a number of potential LNG projects these prospects offer
COI an excellent opportunity to capitalise on the growing demand for CSG and
once the Aussie team is in place we will evaluate the opportunities open to us in
these areas. Our permits in the Gunnedah Basin of northern NSW are also under
review.
Our funding for these campaigns will be secured in Australia. We have a number
of broking houses expressing interest in supporting the Company and a number of
shareholders have put their hands up expressing the same.