Successfully completed a $32.5 million capital raising centred around the future development of Lacerta. Delivered a technical dataset to MHA Petroleum Consultants (MHA) to compile an initial reserve statement for Lacerta. Signed a non-binding MOU with Hunter Energy for the sale of 8 petajoules of gas a year for 10 years from 2010. Continued Lacerta exploration/appraisal program aimed at delineating the Walloon Coal Seam Gas (CSG) Fairway. Successfully drilled 4 step-out pilot wells at Lacerta assessing gas deliverability away from existing data control. Drilled 2 wells at Atria, Permian CSG prosect, intersecting gaseous coal at depths optimal for development.
Fourth Quarter Activities and Cashflow Report - Release Date: 27/07/07
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