Final report for EL 24918 for the period ending 7 September 2009

Abstract

Section 32 of the Mining Act requires the submission of a Final Report prepared by the title holder for each surrendered exploration licence. This Final Report for Exploration Licence (EL) 24918 provides a summary of the activities carried out over the permit in the past year, including any results produced by these activities. EL 24918 is being completely relinquished by Tri-Star Energy Company because the company has determined the coal seam underlying this area is too deep to be economically mined. This licence has been part of a group of licences that were assembled to create a large area that could feasibly be exploited as a coal producing area. The area covered by the group licences will be referred to as the Project Area. Tri-Star Energy Company continues to work on the remainders of the tenures and anticipates that it shall ultimately create a large economic project. The work and expenditure program for EL 24918 during its third year required a geological and geophysical review of existing data and information towards determining the location of Permian coats within the Purni Formation and specifically, their depth, thickness, lateral extent and quantity. lt also required a seismic acquisition survey to be carried out over the Project Area. Tri-Star carried out an unconventional fourteen (14) point seismic acquisition survey over the Project Area and one of these seismic points are located in EL 24918. During this year, studies have resulted in Tri-Star Energy Company's final conclusion that the coal was too deep to economically produce. Tri-Star Energy Company has met all work and expenditure commitments for EL 24918 for the term of the licence.