Ann: Pilot Well Program Update - December 2023, page-6

I expect with further exploration (if consistently positive) and expanded pilot program we should expect TMK to get a major partner in once an update on resource assessment is provided. Its highly uncommon to hold 100% share of a project and when this gets into development, TMK will need billions of dollars for mass drilling, processing etc.

APLNG was drilling pilot wells from early 2000's and finally took a FID i think ~2010 or something. They had multiple drilling and completions rig and were punching out 100's of wells every year. Therefore, if this works out (which seems likely based on coal thickness and typical CBM behaviour) its undoubtely a sleeping giant. But i guess we can expect further dilution until a partner with hefty bank balance comes in.