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Issue of Equity

21 November 2007

Churchill Completes Major Capital-Raising to Advance Indonesia Energy Projects

 

Churchill’s Managing Director, Paul Mazak commented: “The results from the first 4,000 metres of the initial 10,000 metre programme at the East Kutai Coal Project have been very encouraging and this has lead the Churchill directors to seek additional funds to, in particular, upgrade the current drilling programme from its current target to as much as 65,000 metres, with the aim of defining a JORC compliant mining reserve of 100 million tonnes of coal by the end of 2008 with an additional 400 million tonnes of resource for continued drilling and upgrading”.

 

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