PES 2008 annual report has this in it can anyone relate it in...

PES 2008 annual report has this in it can anyone relate it in laymans terms to MAE reserves please???

The Group estimates the 2C* Contingent Resource in the above three CSG permits (including application permit ATP889P(A)), all of which constitute approximately 5% of Pure Energy’s total Queensland acreage, to be in excess
of 2000 PJ.
>> Funds raised by a very successful capital placement in June 2008 are now being directed towards the planned thirty well program targeting certification of 2P reserves of 300PJ over its existing CSG discoveries in permits ATP’s 806P and 852P, and permit application 889P(A) (expected to be granted early next year).
>> Pure Energy has now entered an exciting phase of its development as it moves towards reserve certification, and subsequent transition as a coal seam gas producer.
*