Silvermines Media PLC
01 March 2005


Silvermines Media PLC (the 'Company')
1 March 2005


First Day of Dealings of Enlarged Share Capital on AIM
Acquisition of Zhibek Resources Plc
Change of name from Silvermines Media PLC to Cambrian Oil & Gas Plc

Silvermines Media PLC (AIM: SLV), to be re-named Cambrian Oil & Gas Plc (AIM:
COIL), a company admitted to trading on AIM on 15 July 2004 to seek acquisition
and investment opportunities, is pleased to announce its first day of dealings
on AIM today following its acquisition of Zhibek Resources Plc ('Zhibek').

The Company announced on 4 February 2005 that it had conditionally agreed to
acquire the entire issued share capital of Zhibek (including all outstanding
convertible securities) in consideration for the issue of 40,000,000
Consideration Shares and 13,333,333 Warrants. As of 26 January 2005 (being the
date on which Ordinary Shares were suspended from trading on AIM) the closing
mid-market price of an Ordinary Share was 7.5p, valuing Zhibek at approximately
3 million and Silvermines at approximately 1.7 million.

The Company has also raised 1.95 million, net of expenses, by way of a Placing
of 45,000,000 Placing Shares, undertaken in order to provide working capital for
the Enlarged Group.

Dealings in the Enlarged Share Capital consisting of 23,115,000 existing
Ordinary Shares, 45,000,000 Placing Shares and 40,000,000 Consideration Shares
commence on AIM today.

Commenting on the successful completion of the Acquisition and Placing, John
Byrne, the Company's Non-Executive Chairman, said:

'The formation of COIL now enables Zhibek to develop its strategy of oil and gas
exploration, development and production, both internationally and particularly
in the Kyrgyz Republic. It is a very exciting time for us as we continue the
development of the initial two projects - Beshkent Togap and Tash Kumyr - and
look forward to reporting our progress in the near future.'

Full details of the Proposals were set out in the Admission Document to
shareholders dated 4 February 2005. The definitions in the Admission Document
also apply to this announcement.

For further information please contact:

Cambrian Oil & Gas Plc
Neale Taylor, Chief Executive 0207 493 7671
Paul Mc Groary, Non-Executive Director 07930568160
(former Chief Executive, Silvermines Media PLC)

W.H. Ireland
Tim Cofman 0121 6162101

Parkgreen Communications
Justine Howarth/Victoria Thomas 02074933713


This information is provided by RNS
The company news service from the London Stock Exchange

**************************************************
Silvermines Media PLC
28 February 2005



Silvermines Media PLC

28 February 2005



Result of Extraordinary Meeting



Silvermines Media PLC (AIM: SLV), a company admitted to trading on AIM on 15
July 2004 to seek acquisition and investment opportunities, is pleased to
announce that all of the resolutions put before the Extraordinary General
Meeting today were duly passed.



Accordingly, the 45,000,000 Placing Shares and 40,000,000 Consideration Shares
have been conditionally allotted subject to Admission, which is expected to
occur at 8.00am on 1 March 2005 and the Company's change of name to Cambrian Oil
& Gas Plc will become effective at that time.



Upon Admission, the members of the Concert Party will own approximately 45.8 per
cent. of the Company's issued ordinary share capital (assuming members of the
Concert Party do not exercise any Warrants or Options). If all such Warrants and
Options were exercised the members of the Concert Party could be interested in
up to 53.8 per cent. of the further enlarged share capital of the Company.



Full details of the Proposals were set out in the Admission Document to
shareholders dated 4 February 2005. The definitions in the Admission Document
also apply to this announcement.



For further information please contact:


Cambrian Oil & Gas Plc
Neale Taylor 0207 493 7671
Paul Mc Groary, Non-Executive Director (former Chief Executive of Silvermines 07930 568 160
Media PLC)

W.H. Ireland
Tim Cofman 0121 616 2101

Parkgreen Communications
Justine Howarth/Victoria Thomas 0207 493 3713




This information is provided by RNS
The company news service from the London Stock Exchange
***************************************************
Silvermines Media PLC
01 March 2005


Silvermines Media PLC (the 'Company')
1 March 2005


Directorate Changes


Further to the announcement regarding first day dealings in the Company's
Enlarged Share Capital on AIM today, the Board of Silvermines Media PLC (AIM:
SLV), to be re-named Cambrian Oil & Gas Plc (AIM: COIL), announces the following
directorate changes.


Smit Berry and Haresh Kanabar have resigned from the Board as Non-Executive
Chairman and Executive director respectively, with immediate effect, to focus on
their other business activities. Paul Mc Groary will step down as Chief
Executive to become a Non-Executive Director of the Company.


In addition, the Board of the Company is delighted to appoint John Byrne, aged
55 as Non-Executive Chairman, Neale Taylor, aged 62 as Chief Executive, Jurgen
Hendrich, aged 43 and lan Ennis, aged 63 as Executive Directors, and Jonathan
Malins, aged 57 as Non-Executive Director, all with immediate effect. The newly
appointed directors are all directors of Zhibek Resources Plc.


For further information please contact:

Cambrian Oil & Gas Plc
Neale Taylor, Chief Executive 0207 493 7671
Paul Mc Groary, Non-Executive Director (former
Chief Executive 07930 568 160
of Silvermines Media PLC

W.H. Ireland
Tim Cofman 0121 616 2101

Parkgreen Communications
Justine Howarth/Victoria Thomas 0207 493 3713




This information is provided by RNS
The company news service from the London Stock Exchange

is this the longest header in bb history???

maybe an idea to post a link to the full article, and condense a bit to the relevant bits???

just a suggestion...

aimtrader, just thought it was easier to have it all in one place.

or could be i did`nt think of it!!!

maybe the SLV chart would be a good idea at the very top???

just a suggestion

thanks proptrade,
that`s knackered me now, i`ll go for a break!!
Dexter

Anyone know when the warrants can be excercised ?

any sign of progress report as mentined 01 March 2005, or have they vanished.

Interesting Article today from Oilbarrel....

02.08.2006
Cambrian Oil & Gas Diversifies From Kyrgyzstan To Methanol Project In Australia
It might seem quite a leap from trying to pump heavy oil from shallow wells in the Central Asian Republic of Kyrgyzstan to investing in a gas-to-liquids (GTL) project and a LNG plant in the Timor Sea off Australia, but, as Cambrian Oil & Gas spokesman Alwyn Davey says: Cambrian was never meant to be a single project company.

Indeed not. The company has 5 per cent of private Canadian firm Elko Energy, which holds a 5,000 sq km exploration licence in the Danish North Sea. Elko also holds 30 per cent of private company Dragon Energy, which has signed a joint venture with a provincial subsidiary of CNPC to redevelop the 75 million Maling oilfield in the Gansu Province of China. The GTL project in question, moreover, through Methanol Australia, is not quite what it appears since there is a conventional gas play in front of a gas-to-liquids plant in development terms.

Through the purchase of shares from the trustee, a placing and the underwriting of 50 per cent of a new share issue, Cambrian will spend some A$8.6 million to acquire 12.6 per cent of Methanol Australia. In line with this, Cambrian will be raising new funds, one of the results of which will be that Cambrian Minings holding in Cambrian Oil & Gas will rise to 28 per cent from 27.4 per cent.

Methanol Australia is quoted on the Australian Stock Exchange (ASX). For the six months period to December 2005 the company made a loss of approximately A$653,000 and had net assets as of December 31 2005 of A$1.245 million. The result of this convoluted funding process is Methanol will now have some A$12 million. The question is what will it do with the money?

The idea is the cash will fund the acquisition and processing of 2D and 3D seismic surveys in the companys 100 per cent owned exploration permit NT/68. An agreement is being finalised with PGS Australia to acquire and process approximately 410 sq km of 3D seismic over the crest of the Epenarra structure in the NT/ P68 during September 2006 utilizing the M/V Orient Explorer.

The Epenarra structure is a broad flat anticline at the Darwin Formation level with a mapped closure exceeding 1,200 sq km. The estimated in place gas resource (P50) for Epenarra is 5.6 tcf. Heron-1, drilled by Arco in 1972, recorded several interpreted gas bearing zones, including a 50 metre fractured carbonate interval in the lower 50 metres of the Darwin Formation. Studies indicate that the gas quality at this level is likely to be low in carbon dioxide with the possibility for attractive levels of associated condensate. The company has previously announced the award of a 2D contract. The 3D seismic programme is designed to identify the density, distribution and orientation of faults and fracturing within the 50 metre gas bearing zone intersected by Heron-1 and determine the optimum location for an appraisal well to test the productivity of this interval. Drilling is planned for late 2007. Subject to confirmation by appraisal drilling, the potential gas resource could underpin the companys proposed LNG plant.

The company has obtained a 50 year Commonwealth environmental approval for both the Tassie Shoal Methanol gas-to-liquids project and the Timor Sea LNG project. The projects would represent significant developments for Australia if successful. The company proposes to install methanol production facilities on grounded concrete gravity structures to be located on Tassie Shoal in Australian waters of the Timor Sea. Tassie Shoal is an area of shallow water immediately adjacent to the Evans Shoal gas field and 25 km west of the companys exploration permit NT/P68. The shoal lies approximately 275 km north of Darwin. The proposed methanol project would be developed in two stages, each plant designed to produce 1.8 tonnes per annum.

The proposed LNG processing plant has been designed using Air Products DMR technology, and is capable of producing over 3 million tonnes of LNG per year. Gas supply for these projects could be supplied from a number of adjacent gas fields. Methanol production uniquely utilises the significant amounts of carbon dioxide associated with the natural gas supply. Hence, the companys keenness to develop the NT/P68 permit.

Both the gas-to-liquids and LNG projects are potentially exciting for Cambrian, but as we have seen with British concern GTLs scheme in Dampier in northwest Australia they are long term, expensive and can be difficult to fund. Meanwhile how is Cambrians business in Kyrgyzstan going?

This is the heavy oilfield in Beshkent-Togap in the Kyrgyz Republic. Beshkent-Topag lies in the southwest of the country in the Fergana Basin, which is an established petroleum province, complete with pipelines, two refineries and an extensive rail network. The crude is heavy and only 4.5 million barrels of the estimated 65 million barrel oil pool have been produced, giving a recovery factor of less than 10 per cent. There are 70 producing wells on the field and Cambrian has a 50 per cent equity interest in any production increases from the field after recovery of its capital outlay.

Last year the company spent US$350,000 on a pilot water injection plant to shift the heavy oil. This involves the injection of 200 cubic metres of water through two water injection wells to increase output from the nearby oil wells. The company worked over three old wells to convert them into water injectors. Initial results show the pilot injector well resulted in a four-fold increase in production from the Beshkent-25 well, the well closest to the water injectors, from 3 barrels a day to 13 barrels a day. The other wells further away did not do so well. However, this project started last March and there has been a lot of further work on other wells since then. The company hints it is satisfied by the results and will give an update soon. The project is never going to set the woods on fire but if Cambrian is getting the water wells injecting according to plan there could be good cash flow business to be had. The company also owns two exploration projects in the country.


Rodders

Progress at Tash Kumyr

RNS Number:7128H
Cambrian Oil & Gas PLC
16 August 2006

16 August 2006

Cambrian Oil & Gas Plc
("COIL" or "the Company")

New Tash Kumyr Seismic Interpretation Completed

Cambrian Oil and Gas Plc announces the following progress from its Tash Kumyr
exploration project in the Kyrgyz Republic.

Key Points:

* Processing and interpretation of new Tash Kumyr seismic data has been
completed

* The results increase confidence that the permit area contains a number
of prospective targets

* Revised maps of potential structures align with surface geochemical
results from the Company's 2005 Gore SurveyTM

* The attached map shows the improved structural definition and the alignment
of seismic and geochemical survey results

* COIL has successfully applied to expand its licence area to cover possible
extensions of prospects into adjoining areas

* COIL has started its 2006 summer exploration programme. This programme
includes:
- further seismic and geochemical surveys at Tash Kumyr, Pishkaran and a
new Kyzyl Djar license area; and
- a geochemical survey over the Toktogul structure on the Company's
exploration permit NP-142.

Tash Kumyr Exploration Programme

New and old seismic data has been interpreted to yield a new map, which has
increased COIL's confidence in possible drilling targets in the permit area; the
map of the target Palaeogene horizon is attached to this announcement.

The new interpretation shows improved definition of two potential anticlinal
structures and a number of other leads. The identified prospects and leads align
well with previously mapped geochemical anomalies that indicate potential
hydrocarbon entrapment in one or more of those prospects and leads.

The southern structure is on trend with the Mailisai producing field just to the
southwest and shows good correlation with a geochemical anomaly detected by our
2005 Gore Survey over this same area. This interpretation broadly aligns with
our previous interpretation in this area.

The northern structure has the potential to be larger than originally mapped and
it now appears to extend north of the survey area. A geochemical hydrocarbon
type anomaly wraps around the edges of what appears to be the crest on this
mapped structure.

While the previous interpretation postulated a central anticlinal structure
between the northern and southern anticlinal structures, the new interpretation
materially redefines this structure as a ridge joining the southern and northern
structures. However, this newly interpreted ridge aligns strongly with a
similarly shaped geochemical anomaly that runs between the remapped northern and
southern structures.

A separate fault block feature to the southeast remains as previously mapped and
ties with geochemical responses in this area.

Expanded licence area

COIL has successfully applied to extend the northern boundary of the Tash Kumyr
area of Licence NG-72-00. This will allow further seismic and other mapping to
define the northern limit of the northern prospect.

A new licence has been granted to cover an area to the west and southwest of the
Tash Kumyr survey area. This will cover possible extensions of the southern
prospect in these directions.

2006 Seismic programme

COIL has commenced its 2006 summer exploration and appraisal programme. This
programme includes:

1) further seismic (40 km) and geochemical surveys within the Tash Kumyr
and Kyzyl Djar areas, and

2) a geochemical surface survey to screen for the possible subsurface
presence of hydrocarbons at the Toktogul structure within the Company's Toktogul
Exploration Permit NP-142 located some 80km north west of the Tash Kymyr region.

Given the improved definition of the main prospects within the Tash Kumyr
licence area, COIL may seek a farm-inee to take up some of its participation
interest in this exploration licence.

Toktogul Exploration Programme

The geochemical Gore Survey in this area will screen for the possible subsurface
presence of hydrocarbons in the large Toktogul structure on the Company's
exploration permit NP-142.

Neale Taylor, Chief Executive Officer of Cambrian Oil and Gas Plc, said:

"The new seismic interpretation at our Tash Kumyr exploration licence builds
confidence in several of our South Karagundai prospects. We now need to define
the best way forward via more seismic or other surface work and we expect to
soon start planning the drilling our first exploration well."

Neale Taylor, B.Sc (Applied Geology, Hons), MS (Pet Eng), a Director of the
Company and a qualified person in the terms of the AIM Rules of London Stock
Exchange PLC, has compiled, read and approved the technical disclosure in this
regulatory announcement. The technical disclosure in this announcement complies
with the SPE Standard.

TM - a trademark of W.L. Gore & Associates Inc,

Ends

Update from Beshkent - Togap

RNS Number:7126H
Cambrian Oil & Gas PLC
16 August 2006

16 August 2006


Cambrian Oil & Gas Plc
("COIL" or "the Company")

Progress at the Beshkent-Togap Water Injection Project


Cambrian Oil and Gas Plc announces the following progress at its Beshkent-Togap
water injection project in the Kyrgyz Republic.

Key Points:

* The project has been producing positive operating cash flow since May

* Consistent incremental oil production from a number of Beshkent wells

* Additional injection being initiated at Togap

* Full scale expansion of the project under consideration


Beshkent-Togap Water Injection Project

Water injection commenced at 2 wells in October 2005 with the objective of
increasing oil production in the immediately adjoining production wells at the
Beshkent end of the field.

Regular well testing has been undertaken since October to detect and monitor
responses at the adjoining oil production wells. This testing guides the
Company's plans to expand the project across the whole field, which contains
about 60 producing oil wells. Operational performance is now improving and
incremental oil is being consistently recorded in ongoing well tests.


Incremental oil has now been recorded from a number of producing wells:

Well 25 has produced since February at about 3 times the agreed base level from
which incremental oil is calculated. Well 66 has now produced incremental oil at
50%-100% above the base rate for several months. Four other wells have recorded
incremental oil at lower rates.


Replacing pumps and packers to increase water injection volumes

COIL is taking steps to increase the level of water injection by installing new
pumps and high pressure packers on the injection wells to increase water
injection volumes. These actions are expected to improve performance.
Additional wells in the test area may be converted to injectors.


Project in positive operating cash flow mode

Gross incremental oil production for May, June and July (after deducting
accumulated oil debits for the converted injection wells) is now being finalised
with Kyrgyzneftegaz and the net cumulative incremental volume is expected to be
about 1,000 barrels. COIL's initial 70% share of this incremental oil is being
accumulated for sale in the near future. The Company will record its first
positive income from the sale of COIL's share of this incremental oil production
and after allowing for accumulated operating costs.

While this initial volume may be seen as relatively small, it needs to be
considered in the light of the equipment constraints described above and
operational downtime during the start-up period. Operational performance is now
improving and the results are building confidence that the project can be scaled
up commercially across all of the wells on the field.


Project expansion in the Togap area of the field

Based on the progress in the Beshkent test area and given increases in local
petroleum prices, COIL has agreed with Kyrgyzneftegaz to fund rehabilitation of
previously abandoned injection facilities in the Togap area of the field.
Kyrgyzneftegaz previously established injection in the Togap area of the field
in the late 1980's but this project fell into disrepair. This expansion is now
underway and will provide a low cost extension of the project.


Future project expansion

COIL and Kyrgyzneftegaz are considering possible plans to expand the project to
a full field basis. Further discussions are expected to map out forward
development options. The parties will keep further expansion commitments under
review in the context of ongoing well test results.


Neale Taylor, Chief Executive Officer of Cambrian Oil and Gas Plc, said:

"The Beshkent-Togap project is now showing progress. Latest results are
encouraging, it is pleasing that the project is now generating positive
operating cash flow, and we look forward to working with Kyrgyzneftegaz to
expand the project in the future."

Neale Taylor, B.Sc (Applied Geology, Hons), MS (Pet Eng), a Director of the
Company and a qualified person in the terms of the AIM Rules of London Stock
Exchange PLC, has compiled, read and approved the technical disclosure in this
regulatory announcement. The technical disclosure in this announcement complies
with the SPE Standard.


Ends

LONDON (AFX) - Cambrian Oil & Gas perked up 0.25 to 3.25 pence in the wake of an encouraging progress report from the Tash Kumyr exploration project in the Kyrgyz Republic.

Neale Taylor, chief executive officer, said: "The new seismic interpretation at our Tash Kumyr exploration licence builds confidence in several of our South Karagundai prospects. We now need to define the best way forward via more seismic or other surface work and we expect to soon start planning the drilling our first exploration well." newsdesk@afxnews.com fjb/vjt

Cambrian Oil sees several drilling targets in Kyrgyzstan's Tash Kumyr prospect

LONDON (AFX) - Cambrian Oil & Gas PLC said the outcome of the latest
exploration work in the Tash Kumyr prospect in Kyrgyzstan showed that the area
contains "a number of prospective targets".
In a drilling update, the group said it has applied for an extension of its
license area so it can define the limit of both the northern and southern
portions of the prospect.
"The new seismic interpretation at our Tash Kumyr exploration licence builds
confidence in several of our South Karagundai prospects. We now need to define
the best way forward via more seismic or other surface work and we expect to
soon start planning the drilling our first exploration well," said chief
executive Neale Taylor.
In a separate statement, Cambrian said it is considering plans for a
full-scale expansion of the Beshkent-Togap water injection project, also in
Kyrgyzstan.
Water injection commenced at two wells in October last year with the aim of
increasing oil production in the Beshkent field.
The project has been producing incremental output and "positive operating
cash flow" since May, Cambrian said, adding it plans to expand the project
across the whole field, which contains about 60 producing wells.
"Operational performance is now improving and the results are building
confidence that the project can be scaled up commercially across all of the
wells on the field," it said.
monicca.egoy@afxnews.com

RODSPOTTY

MANY THANKS FOR THE INFO. glad to be in before the mass got interested.
investors with eagle eyes know that COIL can go far. COIL is the conner stone
that the builders have rejected. we will see
best luck to all

just a spark

RNS Number:7908H Cambrian Oil & Gas PLC 17 August 2006

17 August 2006
AIM: COIL
CAMBRIAN OIL & GAS PLC
("COIL" or "the Company")
Extraordinary General Meeting


The board of COIL today announces that an extraordinary general meeting of the Company will be convened for 11.00am on 11 September 2006 at the offices of Trowers & Hamlins, Sceptre Court, 40 Tower Hill, London EC3N 4DX (the "EGM").

The directors of the Company are seeking shareholder approval to increase the authorised capital of the Company and to grant the board of COIL sufficient authority to allot ordinary shares in the Company and to do so for cash on a non pre-emptive basis.

Further information on the proposed resolutions is set out in a circular containing the notice of EGM (the "Circular") which was posted to shareholders of the Company today. Copies of the Circular will be available during normal business hours on weekdays (excluding public holidays) for one month from today's date at the offices of Trowers & Hamlins, Sceptre Court, 40 Tower Hill, London, EC3N 4DX.

If you are in any doubt as to the action you should take, you are recommended to seek your own personal financial advice from your stockbroker, solicitor, accountant or independent financial adviser authorised pursuant to the Financial Services and Markets Act 2000.

The City Code on Takeovers and Mergers ("the Takeover Code")

Although the Company is incorporated in England, the place of central management of the Company is currently located outside the UK, the Channel Islands or the Isle of Man since the main place of business of the Company is in Australia. The majority of Board meetings are held outside the UK, the Channel Islands and the Isle of Man and the majority of the Board are resident outside the UK, the Channel Islands and the Isle of Man. Accordingly, as the Company is one to which paragraph 3 (a) (ii) of the Introduction to the Takeover Code applies, the Panel on Takeovers and Mergers ("the Panel") has confirmed that the Company is not subject to the Takeover Code and Shareholders will not be afforded any protections under the Takeover Code.

If circumstances change, including if changes to the Board are made, the Company will consult with the Panel to ascertain whether this will affect the central management of the Company. If the Panel determines that, as a result of such changes, the place of central management of the Company is located in the UK, the Channel Islands or the Isle of Man such that the Takeover Code then becomes applicable to the Company, an announcement will be made.

Ends

Rodders

SOURCE: SHARES MAG dated 02-08 March 2006 Pages 20/21
High risk high reward 10 tiddlers to strike black gold
MRP; EDR; GED; EEL; CHP; JKX; VOG; MXP; AEX and COIL
What did shares mag say about COIL
CAMBRIAN OIL&GAS: should be a big year for Kyrgyzstan-concentrated Cambrian. The firm recently hammered home its enthusiasm for prospects, having bought the Toktogul exploration licence, started recovery improvements at the Beshkent-Togap oil field and began seismic work at the Tash Kumyr licence. Beshkent-Togap includes a series of wells known to contain oil and Cambrian's plan is to simply update the Soviet-era equipment to extract it more efficiently. It has 1.3million of cash and is hoping to see modest revenues begin flowing through at some point this year.

Some volume today, for a change, on the day of the EGM and a decent rise.

Rodders

From Oil Barrel today....

Cambrian Oil & Gas Provides More Detail On Its Promising Diversification Plans

When we last wrote about Cambrian Oil & Gas, we said it seemed like quite a leap to go from pumping heavy oil from shallow wells in the Central Asian Republic of Kyrgyzstan to investing in a gas-to liquids (GTL) and LNG plant in the Timor Sea off Australia. Chris Hart, managing director of Methanol Australia, the company COIL has invested in and which will build the plants, was recently in London and found time to flesh out these plans for oilbarrel.com.

First, an update from the Kyrgyz Republic. Cambrians heavy oil lies in the Beshkent-Togap field in the southwest of this land-locked country, which is sandwiched between China, Kazakhstan, Uzbekistan and Tajikistan. The Fergana Basin, which straddles the border with Uzbekistan, is a known hydrocarbon province, complete with pipelines, two refineries and an extensive rail network. Heavy oil is not universally popular because it can be difficult to extract. Only about 4.5 million barrels of the estimated 65 million barrels in Beshkent-Togap have been produced, giving a recovery factor of less than 10 per cent. There are 70 producing wells on the field and Cambrian has a 50 per cent equity interest in any production increases from the field after the recovery of its capital outlay.

Last year the company spent US$350,000 on a water injection project, which involved pumping water into two wells with the objective of increasing oil production in the immediately adjoining production wells. Since February the Bishkent-25 well has produced at three times the agreed base level, which means it has produced some 13 barrels a day, up from 4 bpd.

We now learn that in May, June and July Well 66 has produced incremental oil at 50 per cent to 100 per cent while four other wells have recorded incremental oil at lower rates. In all, the net incremental oil is expected to be about 1,000 barrels. This is still modest and a long way from the target of 1,000 barrels of oil a day but it is significant progress and the project is now cash flow positive.

Cambrian also has two exploration projects in the country. The processing and interpretation of new seismic data on the Tash Kumyr has now been completed. The results have increased confidence that the permit area contains a number of prospective targets.

As for the methanol and LNG projects, Chris Hart explains that Cambrian has become involved through Cambrian Mining, which owns 28 per cent of COIL and is something of an energy conglomerate. These are promising projects, not least because Australia has many undeveloped gas discoveries that have been stranded by the tyranny of distance, which makes pipelines very expensive. LNG and GTL projects are, therefore, an obvious way to shift these stranded reserves to market.

Other companies have been stymied not so much by the capital costs of LNG and methanol plans but because of associated planning and native title issues, the transportation costs if pipelines are involved and the high labour costs of assembling plant. Mr Hart reckons Methanol Australia has cracked these problems.
Environmental approvals were granted for two 1.8 million tonnes per annum (tpa) methanol plants in December 2002 and one 3 million tpa LNG plant in May 2004. The plants would be on Tassie Shoal in the Timor Sea, which lies 275 km north of Darwin. In these shallow waters it would possible to build an artificial island with its own port, which obviates the need for a pipeline and would mean methanol or gas could be shipped to markets in the Asia. The plant would be prefabricated in Thailand where labour costs are low and towed to the island.

Methanol Australia has come up with some robust economics for the plants. A 3 million tpa LNG plant could be built for US$988 million and a 1.8 million tpa methanol plant for US$835 million. Dollar for dollar the LNG would be more profitable partly because prices are so high (spot prices are projected at US$385 to US$620 a tonne). The question of which plant gets priority may come down to the gas that will be used for feedstock.

Tassie Shoal happens to be near a number of established but undeveloped gas fields. In particular, it is almost adjacent to the 6.6 trillion cubic feet Evans Shoal field. The gas has a high CO2 content, up to 27 per cent, but because methanol benefits from a high CO2 content this would seem to militate in favour of building the methanol plant first.

However, and this is where Cambrian comes in, Methanol Australia has its own gas field in the shape of the NT/68 exploration permit, which lies 25 km from Tassie Shoal and could have gas in place of 14 tcf.

Through the purchase of shares from the trustee, a placing and the underwriting of 50 per cent of a new share issue, Cambrian plans to spend A$8.6 million to acquire 12.6 per cent of Methanol Australia. The cash will largely be spent on acquiring and processing approximately 410 sq km of 3D seismic over the crest of the 1,200 sq km Epenarra structure in the NT/P68 permit.

The estimated in place gas resource (P50) for Epenarra is 5.6 tcf. A well, Heron-1, was drilled by Arco in 1972, recording several interpreted gas-bearing zones, including a 50 metre fractured carbonate interval in the lower levels of the Darwin Formation. Studies indicate the gas quality at this level is likely to be low in carbon dioxide with the possibility for attractive levels of associated condensate. Drilling is planned for late 2007. If Methanol finds its own gas, then the LNG plant will probably receive priority.

Rodders

RODSPOTTY
THANKS FOR THE POST
i am positive about COIL and will give them time to deliver. Best luck to coil

Directors were upbeat at the EGM, expect a couple of interesting announcements between now and the AGM, sometime in November. DYOR

Rodders

Rodspotty
That's for sure, the way is up in my view, many investors thought, it is risky but it does not need to be risky, just because there is a risk but the control of the risk is important. I like the parent company CAMBRIA mining which provides excellent cover for Coil. i am happy to be in at this very early stage. Got in at 3p then at 5p. should have bought more at 3p but Coil will grow, and there is no questions about it.