This bit of national publicity would have helped the SP along...

This bit of national publicity would have helped the SP along today:

"Arckaringa plan gets a green light
Nigel Wilson, Energy writer
July 02, 2007

NEWLY listed Sapex has received early encouragement for its three-pronged approach to the energy search in South Australia.
The company, which listed in May, has a plan to drill two oil exploration wells early next year in the under-explored Arckaringa Basin, is looking at the prospectivity of known coal deposits for coal-seam methane, and is working up an Australasian Joint Ore Reserve Committee compliant coal resource.

Sapex, which holds seven exploration licences covering the entire Arckaringa Basin and centring on Coober Pedy, has told the stock exchange an initial inferred resource estimate prepared in accordance with the JORC code for its exploration licence 3335 gives an inferred resource of 690 million tonnes of sub-bituminous coal with a target of 2-3 billion tonnes.

Managing director Andrew Andrejewskis said that was about 40 per cent greater than had been expected from data held by the South Australian Primary Industry and Resources department (PIRSA).

He said that based on a ratio of 300 standard cubic feet of gas for each tonne of coal, EL3325 could contain between 200 billion cubic feet and 1.1 trillion cubic feet of coal-seam methane.

Sapex's prospectus did not detail the potential Arckaringa Basin resource because most PIRSA-held drilling data predates the requirement that reserves be JORC compliant.

Mr Andrejewskis is a geologist who was formerly director-general and chief executive of the South Australian Department of Mines and Energy and, more recently, head of the Northern Territory's petroleum administration.

Although much of the Arckaringa Basin has been been explored for minerals, the area has been relatively under-explored for oil and gas."

cheers