We have received a very positive and informative reply from Paul...

We have received a very positive and informative reply from Paul at PEV, regarding Blackwood Resources.

This certainly makes my understanding of our relationship with Blackwood much clearer. I am comfortable with PEV, looking forward to the name change, and news of the additional farm-in deals. The future looks good.

Here is the reply.

Hi Gw,

I have forwarded your email onto Blackwood Coals Directors for comments.

However I can tell you that the directors of Blackwood Resources are currently working in the minerals business for Australian consulting and mining companies.

They are both Australians and have been involved in the coal and mineral industry as specialists, also Blackwood Resources intends to list on the ASX early next year.

The principles of Blackwood are in the process of resigning from their current positions to focus on developing the coal projects they have farmed into with PEV.

We are confident Blackwood resources have the financial and technical whereabouts and competencies to execute and complete the agreement PEV has in place.

Gw