Check STX presentation from yesterday.
Permit grant imminent for PEL 96 in Cooper basin.
66.7% interest
CSG prospective resource 8-20 TCF (P90-P10)
Coal thickness 30-80m confirmed from previous drilling
Shallowest Permian coals in the basin target by Santos.
Adjacent to oil and gas pipelines
Coal to liquids
578Mt JORC resouce in SA
A$50M spent by previous owners
Aim for 10kbbl/day project
A$15M in Cash + cash flow from US operations.
Resistance broken at 15c, would expect re-rating towards permit grant as both coal projects appear to have minimal attributable value given current US and AUS conventional oil and gas production and exploration assets.
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