"ATP718 won't be granted until the ILUA is registered (the ATP is for gas), but I don't believe there is anything stopping them from drilling the area for coal under EPC772. However, it would make sense to do both at the same time."
I do not think it matters whether the initial exploration is under the coal or gas licence, as both will be looking for coal seams.
To my knowledge one of the licences is still current and just waiting for the ILUA paperwork to commence exploration, hence the early 2013 timeframe.
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