ggx circulation of materials to shareholders, page-3

from 18 Jan:

openbriefing.com
Drilling at the first CSG well in PEL 6 at Gwydir-1 (near Narrabri, Northern NSW) was plugged
and abandoned. Why was this action necessary? Was the well drilled deep enough to
adequately assess the presence of coal-bearing sediments and general formation quality?
What further exploration work is planned in PEL 6?
MD David Casey
The Gwydir-1 well was a wildcat exploration core hole specifically designed to assess the CSG
potential of PEL 6. The well was drilled to its planned depth that is to basement, and
assessed all potential coal bearing horizons. We were delighted with the results from the
Gwydir -1 corehole. It has confirmed the presence of the Moolayember coal across PEL 6.
As the Gwydir-1 well was a slim-hole core hole it has no potential in terms of future gas
production. Accordingly, as is common practice and ultimately a permit requirement the
well was plugged and abandoned as soon as evaluation work was completed.
ESG has near-term plans to drill a further two core holes in PEL 6 to further assess the
Moolayember coal and its potential for CSG production.