GulfX said PEL 219 included the known coal-lignite deposit of Moorlands and is an addition to the Mineral Exploration Licence (MEL 3585) where 670 drillholes have been identified from past drilling programs.

The company is reviewing and interpreting past drilling data from the holes to complete a prioritised drilling program for Moorlands by next month.

According to GulfX, securing both PEL 219 and MEL 3585 ensures all potential petroleum and mineral development options over the Moorlands deposit lie within the company's control.