Ann: Quarterly Activities Report , page-2

well a little suprised that no holders have made any comments on the 3rd quarter activities.

Some interesting extracts:

"Work has been largely focused on results from previous
drilling with pertinent data being collated and incorporated into the company's drill hole database and geographical information system (GIS). Information gathered from these
studies will be utilised extensively for target generation and ensuring efficient and effective field operations."

"Information on 765 historic drill holes located within the prospective Fitzroy Graben have been found and currently reviewed for the presence of coal and/or carbonaceous material.

To date logs for 256 of these holes are yet to be reviewed (Figure 2). Historical drill holes
comprise 543 coal exploration holes, 38 BMR (Bureau of Mineral Resources, now Geoscience Australia) stratigraphic holes, 10 water bores and 174 petroleum exploration
holes."

Comment:
Save money by analysing existing drill holes.

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"Of the 509 historic drill hole logs reviewed to date approximately half (i.e. 249 holes) have intersected coal and/or carbonaceous material within the prospective Permian stratigraphy."

"Coal intercepts range from the logging of traces, flecks or
laminae of coal through to coal measures several metres thick containing seams. A further 42 holes in the area intercepted carbonaceous material, 10 of these holes fall within TPL's tenure."

Comment:
Over 50% have shown some result.
Some are in the TPL location

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Overall Comment:
Money will be needed.
This is in the very early stages
Coal is there is it commercial
REY has a JORC Duchess Paradise 511Mt and is rougly 80KM away from TPL's granted tenure.

Watching with a little more interest now.