KAL Energy, Inc. - 8 Meter Coal Seam Discovered
July 19 2007 - 8:15AM
PR Newswire (US)
LONDON, July 19 /PRNewswire-FirstCall/ -- KAL Energy, Inc.
(OTC:KALG) (BULLETIN BOARD: KALG) (Frankfurt: D9T.F) is pleased to
announce that it has confirmed the discovery of an 8m coal seam on
one of its two thermal coal concessions in East Kalimantan
Indonesia, after drilling five new holes. The seam thickness varied
from 7.2m to 8.8m (24.75 ft to 29 ft) in all five holes with
drilling spaced approximately 1km apart. Cameron Reynolds, KAL
Energy CEO, stated, "Results from our Block 24 thermal coal
concession continues to exceed our expectations. These latest drill
results are exciting because of the thickness of the seam and its
location less than 6 miles from the Mahakam River; which implies
low transportation costs and therefore better potential profit
margins. Our geological team is currently continuing exploration
and analysis to conclude whether this is part of the primary seam,
which averaged approximately 4 meters, or if it is a new seam."
"The size and scope of the Block 24 resource is such that we are
now selecting an internationally renowned geological consultancy to
produce an updated resource statement. The new resource statement
will include this most recent discovery, and any further reportable
coal from the other 3 previously identified seams that did not form
part of the previous JORC reports estimate of 204 million tonnes on
Block 24. We are targeting for this report to be published this
September," added Andrew Caminschi, KAL Energy Executive Director.
KAL Energy, Inc. has rights to two coal concessions situated near
the Mahakam River in North Eastern Kalimantan, Indonesia. This
river is a main transportation system for transporting coal to
nearby markets. One of the concessions has a JORC Compliant
Inferred Resource of 204 Million tonnes of thermal coal. With one
of the world's largest thermal coal exporters Kaltim Prima Coal
(KPC) as its neighbor, KAL energy's concessions are in a region
that is known for its extensive open pit thermal coal producing
mines and environmentally friendlier coal product. Indonesia has
recently surpassed Australia as the world's leading thermal coal
exporter, with prices varying from $30.00 to $60.00 plus per ton.
For more information on KAL Energy, Inc. please visit our web site
at http://www.kalenergyinc.com/ Notice Regarding Forward-Looking
Statements This news release contains "forward-looking statements,"
as that term is defined in Section 27A of the United States
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Statements in this press release which are not purely
historical are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions
regarding the future. DATASOURCE: KAL Energy, Inc. CONTACT: Mr.
Cameron Reynolds, CEO of KAL Energy, Inc., +44-207-487-8426, fax,
+44-207-487-8402, or U.S. Investor Relations Line, +1-866-680-2575
Web site: http://www.kalenergyinc.com/
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