PLANET GAS LIMITED
ABN 46 098 952 035
ASX Code: PGS

Planet Gas is an Australian-based, ASX-listed Coal Bed Methane (CBM) exploration and development company, currently developing key assets in the United States.

The Company has:

• a 23,000+ net hectare portfolio of 4 highly prospective CBM tenements,
  
  
• locations in the Powder River Basin, Wyoming - adjacent to proven CBM
  resources and infrastructure - and in the Cherokee Basin, Kansas,
  
  
• initial gas production underway at its pilot Esponda project in Wyoming,
  
  
• fast track exploration and development targets for 2008-2009, and is
  
  
• negotiating acquisition of additional tenement rights to add to its US
  portfolio.
  

The Company's 3-5 year goal is to establish itself as a significant CBM supplier into the energy-hungry US marketplace in time to meet record energy demand levels forecast for beyond 2010.

The Company previously held additional Australian CBM tenement rights. These were sold during 2007 to assist the Company focus on the higher potential US CBM market.