Previously the tenements as shown below were in a Farm-in Joint Venture (JV) with Dragon Energy Ltd (Dragon) who have now withdrawn from the JV. The JV comprised Exploration Permits for Coal (EPCs) in the Surat/Clarence-Moreton and Bowen Basins in Queensland. Dragon did not complete their earning requirements and therefore have no on-going right or interest in the tenements. Cokal retains a 100% ownership of these tenements.
A total of five EPCs out of the thirteen, have now been granted and a further three EPCs (1650, 1651 and 1653) are going through Native Title process prior to being offered for grant by the DME Queensland. EPC 1666 has also been offered for grant. The company has signed a heritage agreement with Barada Barna Native Title group which will lead to the granting of EPC 1653 in the Bowen Basin.