great announcement ... , page-6

Metex Resources advised that the JV company, Carbon Energy has successfully concluded the financial and technical evaluation of the Bloodwood Creek site located approx 300km west of Brisbane, and is to commence Australia's largest trial for the production of synthetic gas from the underground gasification of coal. The demonstration plant is budgeted to cost approx $19m and is expected to be sited at Bloodwood Creek where CEPL has defined an initial Inferred Resource of 45Mt of high-quality coal sufficient to support the construction of a 1Pj p.a. single Underground Coal Gas syngas module. Construction of the plant is anticipated to commence early in 2008 with initial gasification expected to commence in July 2008. CARBON ENERGY QUANTIFIES SIGNIFICANT COMMERCIAL OPTIONS (Requires