projects include: • The Dingo West Project, in EPC 881, where a subsidiary of Macarthur Coal Limited(“Macarthur Coal”) is currently earning up to a 70% interest through a farmin. The project involves the Rangal Coal Measures, and a known low volatile coal likely to yield products of PCI (pulverized coal injection) and thermal quality. Upon successful completion of the farmin Bandanna will retain a 30% interest in the Dingo West Project, including marketing rights for its share of any produced coal.
• The Alpha Project area (EPCs 1048, 1049, 1179 and 1180) where the international coal company AMCI is earning up to a 50% interest by funding up to $25 million of exploration. These permits are located immediately to the south of Waratah Coal Limited’s tenements in the Galilee Basin. In the case of EPC’s 881 (Dingo West), 891 (Springsure Creek) and 892 (Arcadia) exploration and geological interpretation are currently underway, and it is expected that this work will result in JORC compliant resource estimates. The results will be announced when completed, and Enterprise anticipates this will be before the end of June 2008.
EPE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
