Greenpower Energy Limited

Greenpower Energy Limited is a small Sydney-headquartered company with aims to develop coal seam gas projects in Australia. On its website the company states that, after raising $5.3 million in its initial public offering in early 2008, it aimed to "begin drilling two million hectares of commercially-attractive tenements in the Gippsland and Otway Basins in Victoria, the Eromanga and Willochra Basins in South Australia, the Perth Basin in Western Australia and the Gunnedah Basin in New South Wales."

Latrobe Valley, Victoria
On its website Greenpower Energy states that, as of February 2012, it has six exploration licences which cover 1,242.91sq km in the Latrobe Valley in Victoria. The company states that the "principal focus" for the exploration licences is the development of "liquid hydrocarbons". The company has stated that it is "completing plans for the introduction and adoption of technology which converts brown coal to API 37 synthetic crude oil." The process, the company claims, "is greenhouse neutral".

The licences are:
 * EL 4500, held by Greenpower Natural Gas Pty Ltd, a wholly owned subsidiary of Greenpower Energy Limited; the initial estimates for the coal resource within the licence area was just "over 100Mt of lignite" a consultant's report stated that a JORC compliant estimate was that there was an "inferred resource of 306" million tonnes within the lease area.
 * EL 4860, held by Sawells Pty Ltd, a wholly owned subsidiary of Greenpower Energy Limited. In 2011 Greenpower completed four drill holes under a joint venture agreement with Magma Oil Pty Ltd, a wholly owned subsidiary of Regal Resources. In its December 2011 Quarterly report Greenpower stated that "tenement renewal is in progress".
 * EL 4861
 * EL 4862
 * EL 4877; held by Sawells Pty Ltd, a wholly owned subsidiary of Greenpower Energy Limited. In its December 2011 Quarterly report Greenpower stated that the exploration licence is "subject to a sale agreement with Australian Energy Company Limited. Greenpower has the right to earn back an interest in the north west part of the permit" ; and
 * EL 5227, held by Greenpower Natural Gas Pty Ltd, a wholly owned subsidiary of Greenpower Energy Limited. In its December 2011 Quarterly report Greenpower stated that three drilling holes have been completed, It stated that "although the results from this program have not returned significant coal intersections, they are important in defining the extant of the sub basin".

On its website Greenpower states that "lignite has been discovered by the drilling done in the past on all of Greenpower’s Latrobe Valley licences. In the eastern part of EL4500, over 100Mt of lignite have been identified in an area of 7.19 km2 with an average coal thickness of 11.8m and a strip ratio of 6:1 overburden to lignite. In October 2010 Greenpower plan to roll out a drilling programme throughout its Latrobe Valley tenements. The exact timing will depend on Government approvals. The aim of this programme is to collect fresh lignite cores to test for their amenability to liquids and gas conversion, to obtain baseline information in respect of methane presence and collect environmental data."

Traralgon project
Greenpower Energy Limited and Regal Resources have an agreement to investigate whether there is a sufficient brown coal resource to support an Underground Coal to Liquids project. The project is located near Traralgon.

Contact details
Greenpower Energy Limited Level 19, 2 Market Street Sydney NSW 2000 Website: http://www.greenpowerenergylimited.com.au/

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