stocks that were going to make everyone rich, page-14

Wogboy there was a capital raising as BG hasn't stumped up the cash as a JV partner. QGC bought PXA outright (JV partner of CTP). BG bought QGC so became a JV partner by default. They are more interested in CSG and CTP is more interested in UCG, UCTL or other methods. So we drill on without them.

So as you can see the company is using the money to drill. Just completed 5th CBM well and is now about 110m down into it's first conventional gas well (up to 2TCFG).

So time will soon tell if they have the goodies.


Current drilling programme.

Phase Two 2010-the Company has a number of prospects either ready to drill or which will be ready to drill throughout 2010 including the following :

3 6 conventional wells (Amadeus Basin) :
Ooraminna 2, gas up to 2TCFG.
Johnstone 1 oil up to 500 MMbbls UOIIP Ordovician (Mereenie style) and other horizons, Surprise, Stuart, NW Mereenie, all within EP 115
Magee 2 gas, condensate, Helium, up to 500 BCF UGIIP,15 BCF Helium UGIIP, subsalt
An oil well in the Rawson Resources Limited EP 97 Simpson Prospect Block