Regal Resources Execute Farm In With Ciris Energy
Ciris has completed due diligence and analysis of coal samples taken from tenements (ELs 4507 and 4510). The results show the coals are suitable for testing of Ciris’ In-situ Bioconversion of coal to methane technology (known as ISBC Technology), for the purpose of producing gaseous hydrocarbons (methane).
The Regal Tenements are located west of Melbourne and comprise 1407 square km of project area that covers a portion of the Port Phillip and Torquay Basins and has evidence of substantial brown coal deposits as indicated from numerous drill holes into the coal seams.
Regal and Ciris have also agreed to work together to assess the potential of selected opportunities inQueensland and NSW. In the event Ciris proposes to pursue the development of its ISBC Technology in such areas, Regal would have the right to participate therein.