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Key Milestones

2012


As of June 30, 2012, as certified by NSAI, the Panzhuang and Mabi concessions had a total estimated 85.7 bcf of gross proved reserves (1P), 494.9 bcf of gross proved and probable reserves (2P) and 3,385.2 bcf of gross possible reserves.

In May 2012, a panel of specialists organized by MOLAR certified 211.0 square kilometers of reserve area of coal seam 3 and 132.1 square kilometers of reserve area of coal seam 15 in the Mabi concession.

MOLAR issued the CBM mining license which grants the mining rights for the entire area of the Panzhuang Project.