Looks like a private equity mob called Qld Energy Resources is sitting on quite a bit of the Galilee and their plan is to go after the shale nearer the surface from what i gather
Of interest from that paper Greggy gave the link to it says the basin is separated into two depositional areas I assume WCL is on the northern tip of the Lovelle Depression.. on page 6 ..
'Substantial thickness of Aramac Coal Measures were
deposited on the western side of reactivated
basement faults in the Lovelle Depression'
the link again.. http://www.rlms.com.au/products.asp#CSM
There hasn't really been any drilling to the north west looking at the rlms report.
WCL Price at posting:
41.1¢ Sentiment: Hold Disclosure: Held
