EL 29397 Hale River Project annual report for the year 13 March 2012 to 12 March 2013

Abstract

During the reporting period, the work programme was restricted to office studies, information gathering and negotiations with stakeholders. Four reports from geological consultants were received during the reporting period. Each report considered the seven tenements as one contiguous entity, the Hale River Project. There is sufficient data from Central Petroleum Limited to warrant assessment of EL 29397 and other Hale River Project tenements for export quality thermal coal. However, the data gathered by Global Ore Discovery and the interpretation of that data is not supportive of finding large volumes of coal on Hale River Project tenements. However, GOD's geological interpretation is based on a limited amount of data that is available from public sources. Most of this data concerns exploration carried out by CTP exploring for CBM, southeast of the project area. Further geological modelling is needed to define with a higher level of conviction, the top and bottom of the Permian sequence. More importantly is gathering and interpretation of data used to project the Purni Formation to surface. This is critical for planning a scout-drilling programme.