The company already has a JORC standard Inferred lignite resource of more than 500 million tonnes with an estimated extractable oil inventory of more than 200 million barrels of liquid fuels.
The drilling will focus on an extensive infill drilling program in 2008 and 2009 to further refine the current JORC resource and a step out drilling program to substantially expand the resource estimate and the recoverable oil inventory based on several unexplored zones identified recently by Spitfire’s consulting geologists, CSA Australia, after the completion of an airborne Electromagnetic (SkyTem EM) survey in October 2007.
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