guru? lol, thanks amelius but far from it.Personally I'm very...

guru? lol, thanks amelius but far from it.

Personally I'm very impressed with the 160m column however will await the logging results prior to making more comments. That being said, regardless of the depth and porosity of the coals its obvious this is extremely promising for the region and CTP's future CBM campaign.

As I mentioned over at SS, 'Blamore has already raised an eyebrow or two with the 160m column and although an initial failure for oil (and I say an INITIAL failure on the basis that they will drill here again and try and find the oil bearing sands), the CBM aspect has now been lit up and another 2-3 wells will provide the glow required to attract the moths'

and also (sorry its just bits and pieces);

'Secondly, firming up CBM potential early on can initiate further interest and hence bring partners to the table in which CTP can negotiate a significant farmout deal and possibly only fund a small fraction of the farmout - if fund anything at all. It really opens up the boadroom table and puts the company in a much more controlling position when negotiating'

The market, as usual, has overlooked the companys announcement but thats due to an array of reasons outside the companies control.

nickvc: not sure what content was in your link as it didnt work for me, however GSG is a very interesting story, one to follow IMO. All CTP holders should expect to hear alot more about them in the coming months/years.

Some info;

Great Southern Gas

1. Prospective coalseam gas explorer Great Southern Gas aiming to raise $2mil private seed funding via Martin Place Securities

(n/b - no longer using MPS as far as Im aware)

2. Money used to fund 40% of three CSG exploration wells in
Pedirka Basin this year & working capital

3. Depending on results of exploration program, Great Southern Gas to launch IPO to raise ~$10mil

4. Acreage positions secured through farmins with Petroleum
Exploration Australia (PXA) & Rawson Resources

5. By paying 40% of costs, GSG can earn 20% of PXA’s nonconventional rights across suite of Pedirka Basin permits

6. PXA retains its 20% rights to conventional oil & gas rights, by way of existing farmin with operator Central Petroleum

7. PXA will also receive 1.5% royalty for non-conventional (CSG & tight) gas sold by GSG from permits

8. PXA/Central’s spread comprises nine granted permits & 18
applications

9. Most CSG potential identified in EP-93, EP-105, EP-106, EP- 107, EP-130, EP-131, EP-149 & application PEL-77

10. Area covers approximately 30,000km2 within two formations; Permian Purni FM & Triassic Peeri Peeri FM

11. GSG also farmed into 100% of non-conventional rights in
northern portion of Rawson’s EP-97

12. In return Rawson to acquire 16mil GSG shares (23.5% interest), plus 3% royalty

13. Although unexplored for CSG, companies consider Pedirka Basin has potential “to become a significant CBM supply source within 5 years”

14. 2008 work programme includes drilling three core holes - one in EP-107 & two in EP-93 - to measure coal properties such as seam thickness & gas content

15. GSG executive chairman, Rohan Gillespie, formerly VP & CEO of BHP Billiton’s CSG business, including Moranbah project

16. Gillespie also M/D of Energy Infrastructure & Resources (EIR),which has 2/3 shareholding in GSG

17. EIR formed in mid-2006 to provide strategic CSG advice & develop low emission energy projects related to CSG

18. Other GSG directors include John Conolly & John Doughty, both on Rawson’s board

Enjoy the weekend.