Altona says its joint venture, the Arckaringa Coal Chemical Joint Venture Company Pty Ltd, has submitted an application for a petroleum exploration licence for an area overlapping that covered by PEL Application 604, which was lodged by Sapex Limited, a 100% subsidiary of Linc Energy Ltd, which is now in administration. Altona says the PEL application follows talks with the South Australian government, which remains supportive of the company's proposed investment in the Arckaringa Basin (in South Australia). The directors cannot provide any assurances regarding the likely outcome of the PEL application at this time. However, the board remains confident that, along with its joint venture partners, Sino Aus Energy Group Ltd and Wintask Group Ltd, it will be successful in its endeavour to commence an Underground Coal Gasification test drilling programme.
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