30-36 billion tonne coal target

rey website telling share holder to reject takeover offers by both parties,it is being capped as to keep the price down,it has maiden jorc resource of 510 million tonnes,this is a monsster and will be showed in the sp very shortly....................................here is avery good reason to hold......................
Duchess Paradise – Thermal Coal
In 2004 a review of the Canning basin’s coal Exploration Target was undertaken
based on re-interpretation of oil well drilling data and seismic data. This work
showed that coal occurred extensively across the Basin
Mineral exploration drilling carried out by Australian Inland Exploration in the
1970’s discovered extensive coal occurrences along the geologically interpreted
margins of the basin where the coal came to near surface ( Sub-crop)
One oil well, drilled by BHP Petroleum in 1988 in the middle of the basin,
Petaluma #1, found an intersection of 15m of coal at 195m. Subsequent drilling
by Rey confirmed this intersection and it’s correlation with the seismic data
In 2008 Rey completed a 26,044 metre drilling programme in the
Duchess/Paradise area which led to a maiden JORC compliant resource of 510
Million Tonnes of coal under the categories below.
Seam Measured Indicated Inferred Total
(Mt) (Mt) (Mt) (Mt)
P1 18 102 160 280
P2 17 42 170 230
Total 35 144 330 510
Exploration Target
The inference and evidence of the above extensive geological work, compiled over some
40 years, and detailed evaluations by the Company’s “Competent Person” ( see
attribution at the foot of this letter) led to the Exploration Target of 30-36 Billion Tonnes of
coal announced to the ASX on 20 August 2009. This is an exploration target defined
within the parameters of and in accordance with Clause 18 of the JORC Code, and is not
an estimation of in-situ coal. This exploration target was obtained using average coal
properties and seam thicknesses from previous drilling data and interpretation of
geological information including seismic data and photo-interpretation.