Creekers,An acquaintance in the financial sector sent me this...

Creekers,
An acquaintance in the financial sector sent me this earlier today. The MD's comments are rather interesting.
Could it be that we are looking at when, rather than if deals are signed?
Great to read positive articles on the company, rather than constant negative posters on HC.

Leigh Creek expands portfolio

Mark Andrews, Paydirt

Last year's strategic decision to hunt for oil and gas opportunities complementary to its existing projects reached culmination for Leigh Creek Energy Ltd in February with a farm-in agreement struck with Queensland's Bridgeport Energy Pty Ltd in the Cooper and Eromanga basins.

The deal was done through Leigh Creek's wholly owned subsidiary Leigh Creek Oil and Gas Ltd (LCOG).

LCOG has the opportunity to acquire a 20% participating interest of Authority to Prospect (ATP) in ATP 2023 and ATP 2024, south-west Queensland, from Bridgeport.

Leigh Creek's first JV outside its namesake project area in South Australia remains subject to ministerial approval.

Taking an interest in the Cooper and Eromanga basins gives Leigh Creek portfolio diversity and potential to tap into multiple revenue streams.

The rationale behind Leigh Creek's foray into Queensland was to add assets in known petroleum systems containing both oil and gas prospects with the potential for short to medium term revenue and growth opportunities, as the large Leigh Creek energy project in SA continues down the development path.

Courting a strategic partner from China to JV at the Leigh Creek energy project remains an option for the company.

"We are a long way down the track, but unfortunately we don't know how long this coronavirus is going to hold us up. We were very close to having the thing finalised," Leigh Creek managing director Phil Staveley told Paydirt.

"We are not getting a response at the moment with everything that is going on, but there are other pluses with another big international firm coming to see us on more or less the same terms."

Gas and/or nitrogen fertiliser products from remnant coal resources at Leigh Creek using in- situ gas technologies is the strategy being pursued by the company.

The company is working towards having all approvals ticked off for seismic activities at Leigh Creek.

"Then the drilling will follow to prove that there is no fluids or cracks in our ground and then we can work towards starting a commercial EIS," Staveley said.

"We have to know the ground we are going to be starting a commercial project on is suitable. That is what the seismic and drilling is for. Once that has proven up the right basis to operate, we will be starting the commercial EIS."