atp837p, page-9

This is from chaiman's letter June 2008. So these next few months - including Nov, should be busy for the compnay.

"The Company has been the successful bidder on three new exploration permits in the
Surat Basin, Queensland. These include ATP 873P a coal seam gas area, where the
operator is TruEnergy Queensland Pty Ltd with 70 percent. The Company has a 15 percent interest in this new ATP. Drilling of three coal seam gas wells in ATP 873P
will commence in late 2008.
 The Company is the operator of two new ATPs, ATP893P and ATP901P in the Central Taroom Trough region of the Surat Basin. Here the Company has a 25
percent interest and its partners are Hardy Energy with 50 percent and Energetica Resources with 25 percent. Surface geochemical surveys will be run on both permits
in October 2008. Both permits have potential for shallow coal seam gas in addition to traditional oil and gas and deep basin gas potential.
 The Company has farmed out its coal seam gas rights to TruEnergy Queensland Pty Ltd in ATP837P in the Moonie area of the Surat Basin. TruEnergy will spend $2.4
million for a 200 km square 3D seismic survey in ATP837P in November 2008. They
will also drill two coal seam gas wells in the northern part of ATP837P. Rawson will
have a free carried interest of 15 percent in the two CSG wells and is free carried through the seismic retaining a 50 percent interest in the deeper oil and gas rights of
ATP837P. Energetica Resources will operate the 3D seismic program while TruEnergy will operate the CSG drilling operation. Drilling of traditional oil targets
similar to those at the adjacent Moonie oilfield will begin in 2009 once the new 3D
seismic has been interpreted. Drilling of these wells will be funded by farmout.