Final and annual report on EL 25247, for period ending 12 November 2008

Abstract

This is the final annual report for EL 25247. This licence is being surrendered as a coal permit because the company has determined the coal seam underlying this area are too deep to be economically mined. This licence has been part of a group of licences that we assembled to create a large area that could feasibly be exploited as a coal producing area. We continue our work on the remainders of the tenures and anticipate that we shall ultimately create a large economic project. Section 34 of the Mining Act requires the submission of an Annual Report prepared by the titleholder for each current Exploration Licence (EL). This Final Annual Report for EL 25247 provides a summary of activities undertaken on the permit in the last 12 months including any results produced by these activities. EL 25247 was granted on 13 November 2006 for a term of six years. Tri-Star Energy Company is the sole titleholder and the operator of EL 25247. The work and expenditure program for EL 25247 during its first year required a geological and geophysical review of existing data and information towards determining the location of Permian coals within the Purni Formation and specifically, their depth, thickness, lateral extent and quality. No field activities were intended during the first year and none were carried out. During this second year, coal studies continue resulting in our final conclusion that the coal was too deep to economically produce. Tri-Star Energy Company has met all work and expenditure commitments for EL 25247 for the term of the licence.