Maaze is correct. Rawson Resources (RAW) next door to EP 93 with EP 97.
1. EP97 is on the same geology and the top half of EP97 has been 100% farmed out to Great Southern Gas (GSG). GSG is 66.6% owned by www.eironline.com.au and 33.3% by RAW.
2. A seeding raising of $2m will dilute RAW's share to 23.5%. Refer to this fyi: http://www.mpsecurities.com.au/Publications/2008/Great%20Southern%20Gas%20Term%20Sheet%20April%202008.pdf
3. EIR Ltd is headed by the ex-chief operating officer of BHP CBM: Rohan Gillespie.
4. EP97 is farmed out to CTP for oil, but not for CBM where it is prospective at depths less than 1250m. GSG have this section of EP97.
5. If successful with drilling, GSG will issue an IPO in the future.
6. CTP have a lot territory in the Pedirka Basin and imo would likely subscribe to the GSG IPO.
CTP Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
