Exploration licence EL 24094 annual report for the period ending 7 September 2008

Abstract

An Annual Report is required to be submitted by the titleholder for each current Exploration Licence (EL) in accordance to the Section 34 of the Mining Act. This second year Annual Report for EL 24904 provides a summary of activities undertaken on the permit in the past year including any results produced by these activities. EL 24904 was granted on 8 September 2006 for a term of six years. Tri-Star Energy Company is the sole titleholder and the operator of EL 24904. The work and expenditure program for EL 24904 during its second 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 proposed during the second year and none were carried out. Tri-Star commenced the review of existing data for the permit area and the Pedirka Basin in general to identify existing seismic, well and bore data, geology, cadastral information and topography. It has been determined from investigations during the reporting period that there are no existing seismic data on the permit to assist in the mapping of the Permian coal seams. The geological investigations and the literature search commenced during the reporting period has indicated that the Purni Formation and its associated coals do not crop out within the area of EL 24904, and may occur at depth in the extreme south-eastern parts of the tenure and on to the southeast. Tri-Star has met all work and expenditure commitments for EL 24904 for the second year of the term, further work will be required to determine definitely the presence or absence of the Permian coals and the third year of the term will focus on addressing these issues.