LONDON, Feb 20 – UK firm Alpha Prospects has established a new Australian subsidiary to explore a 500sq.km area prospective for coal and coal bed methane at Mt Lloyd in southern Tasmania.
US-based Empire Energy Corporation International will spend US$2M on drilling and a seismic survey to prove up resources and reserves to Joint Ore Reserves Committee standards. Alpha will issue Empire with 49M shares equivalent to 26.6% of the company.
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