Probably the reason why. From the latest release. Public holiday Qld way today so maybe further news tomorrow. The Company believes both the Holli-1 and Cameron-1 coreholes have demonstrated the presence of commercially potential gas contents together with excellent permeabilities over a large areal extent (Figure 2). “We expected good permeability results from the Juandah coals within the Walloon Coal Measures,” said Pure’s Managing Director Steve Beardsall. “But to encounter such high permeabilities within the lesser-explored but areally-extensive Taroom coals was particularly pleasing. These results are highly encouraging for prospective pilot and development work in this permit.” Daniel-1 and Gerard-1 (Figure 2) will test the northern extent of the Taroom Coal Measures over this large exploration permit. If these wells are successful, it could establish an immense area of CSG potential, in the order of 700 square kilometers. ATP 852P BACKGROUND The permit covers an area of approximately 1050 km of highly prospective acreage and moves the Company into the Walloon CSG Fairway, which is proven to be productive and prolific in nearby fields, and is close to existing infrastructure and markets (Figure 1). 2 The prospective Coals are contained in the Jurassic Walloon Subgroup of the Surat Basin. The coal seams are known to be well developed in both the Juandah and Taroom Coal Measures. Net coal thickness was expected to range from 15 to 30m, and the seams are known to contain commercial gas contents within the Walloon CSG Fairway. These same coals are currently being put into production at Berwyndale South and Argyle, (operated by Queensland Gas Company Ltd) and Daandine, Kogan North and Tipton West (operated by Arrow Energy Ltd), and currently being piloted at Lacerta (by Sunshine Gas Ltd). If drilling and testing of the four core hole campaign is successful, the Company plans to move quickly into a pilot testing programme in order to establish commercial viability and certify reserves. Pure Energy holds 100% interest in both the CSG and conventional rights in this permit. And lets not forget the two drills with AOE.
PES Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held