Ann: Exploration potential target 280-350 billion, page-8

re: Ann: Exploration potential target 280-350... Well, one will think that the ASX will ask them to qualify that announcement. They hate these "target resources".

That said, I find Table 1 in the announcement significant. Backing up this pie in the sky number is 137 drill holes that have been put through the coal seams by oil companies and the like. That provides us with a degree of certainty and enough certainty IMO to make this a screaming buy given the current market cap of LBY.

Certainly not appropriate for mining and CSG/UCG is the way to go here. Some of the coal seams are quite deep, but with 137 drill holes, hopefully many of those can still be used. Depth though is required for both CSG/UCG so some of those seams at 600m look ideal.