change of substantial shareholder , page-2

Looks like he has bought more from the announcement. probably just put the figures in the wrong column is my guess (increased from 20.01% to just over 21%).

Very tightly held register (something like 460).

Drilling for CSG this month.

Rawson benefits from oil prices, Queensland CSG market
TOP News

Source: News Bites

Rawson Resources Ltd executive chairman John Conolly says the company has an improved ability to deal in its acreage with potential farm-ins as a result of record crude oil prices and the development of the coal seam gas market in Queensland.

In a letter to shareholders, Mr Conolly said the changing market had also increased the net worth of the company’s properties, at a time when it was expanding its exploration activities and adding a number of new ventures in the Surat Basin, Queensland.

During 2008, the company has acquired two new 3D seismic surveys in its Otway Basin permits, leading to the definition of new targets to be drilled in the first half of calendar 2009. Rawson is operator of the permits, in which it has a 37.5% interest. The company plans to fund its share of the well costs by farm-out to third parties.

Rawson acquired a 100km 2D seismic survey in EP97 in its Simpson Desert Pedirka Basin permit during the year. The seismic was paid for by Central Petroleum at an estimated cost of $1 million.

Rawson was the successful bidder on three new exploration permits in the Surat Basin, Queensland during the year, including a coal seam gas area where the operator is TruEnergy Queensland Pty Ltd with 70%. Rawson has a 15% interest.

Rawson 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 sq km 3D seismic survey in ATP837P in November 2008, and will also drill two coal seam gas wells in the northern part of ATP837P. Rawson will have a free carried interest of 15% in the two CSG wells and is free carried through the seismic retaining a 50% interest in the deeper oil and gas rights of ATP837P.

http://www.businessspectator.com.au/bs.nsf/Article/Rawson-benefits-from-oil-prices-Queensland-CSG-mar-L93SQ?opendocument&src=rss