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Brisbane, Jan 31, 2012 (ABN Newswire) - Bandanna Energy Limited (
ASX:BND) is pleased to provide a quarterly report for the period ended 31 December 2011.
The following activities have been conducted by, or on behalf of, the Company and its wholly-owned subsidiaries ("Bandanna") during the three months 1 October to 31 December 2011 ("Reporting Period").
Executive Summary
Bandanna Energy Limited continues to strengthen its position as an emerging force in the Australian thermal coal sector, with the following significant events having occurred during the Reporting Period.
Operational - Exploration and Development Activities
- Significant increase in Resources for Springsure Creek Project.
- Mining Lease application made for Springsure Creek Project.
- Cultural Heritage and Native Title Agreements reached in Springsure Creek and South Galilee Coal projects, respectively.
- Strategic Cropping Legislation passed including provision for Springsure Creek under the transition arrangements.
- Implementation of Co-existence Strategy with landowner/occupier stakeholders.
Infrastructure
- Close of financing package for Wiggins Island Coal Terminal and commencement of major construction phase.
- Submission of expression of interest for a 15 Mtpa port allocation for the South Galilee Coal Project in the proposed T4-T7 expansion of Abbot Point terminal unsuccessful, however subsequent discussions with the North Queensland Bulk Ports for alternate options to gaining necessary port capacity at Abbot Point are continuing.
Corporate
- Announcements that John Pegler and Michael Gray are to be appointed to the board, with Michael to become the new CEO and Managing Director during Q1 2012.
- Termination of the Strategic Review Process.
- Increased staff and resources and relocation of registered and business office to larger premises as part of Company's up-gearing during Development stage.
To view the complete Bandanna Energy Quarterly Report, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-BND-186808.pdf
ASX:BND) is pleased to provide a quarterly report for the period ended 31 December 2011.The following activities have been conducted by, or on behalf of, the Company and its wholly-owned subsidiaries ("Bandanna") during the three months 1 October to 31 December 2011 ("Reporting Period").
Executive Summary
Bandanna Energy Limited continues to strengthen its position as an emerging force in the Australian thermal coal sector, with the following significant events having occurred during the Reporting Period.
Operational - Exploration and Development Activities
- Significant increase in Resources for Springsure Creek Project.
- Mining Lease application made for Springsure Creek Project.
- Cultural Heritage and Native Title Agreements reached in Springsure Creek and South Galilee Coal projects, respectively.
- Strategic Cropping Legislation passed including provision for Springsure Creek under the transition arrangements.
- Implementation of Co-existence Strategy with landowner/occupier stakeholders.
Infrastructure
- Close of financing package for Wiggins Island Coal Terminal and commencement of major construction phase.
- Submission of expression of interest for a 15 Mtpa port allocation for the South Galilee Coal Project in the proposed T4-T7 expansion of Abbot Point terminal unsuccessful, however subsequent discussions with the North Queensland Bulk Ports for alternate options to gaining necessary port capacity at Abbot Point are continuing.
Corporate
- Announcements that John Pegler and Michael Gray are to be appointed to the board, with Michael to become the new CEO and Managing Director during Q1 2012.
- Termination of the Strategic Review Process.
- Increased staff and resources and relocation of registered and business office to larger premises as part of Company's up-gearing during Development stage.
To view the complete Bandanna Energy Quarterly Report, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-BND-186808.pdf
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About Bandanna Energy Limited
Bandanna Energy Limited (ASX:BND) holds 11 Exploration Permits for Coal (EPC's) with applications for a further five (EPCA's), in the Bowen and Galilee Basins in Queensland. In addition the Company has conventional oil and gas exploration interests in the Cooper Basin of South Australia and Queensland and mineral exploration licences, primarily for oil shale in Queensland. Formerly known as Enterprise Energy Limited, in early October 2008 the Company completed a transaction involving the acquisition of the issued capital of Bandanna Coal Pty Ltd, a capital raising and a 1 for 10 share consolidation. The name change to Bandanna Energy Limited reflected the future emphasis on coal, the Bandanna Formation being a well known coal bearing geological unit within the Bowen Basin.
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