Planet said its wholly owned subsidiary Pauper’s Dream Company has spudded STRAT 09-4980 at the West Esponda Project which occupies 3,717 net hectares (9,184 acres) in Johnson County.

The company said the project lies west of the previously developed East Esponda portion of the company’s leasehold interests where Kennedy Oil and Western Gas have completed twenty CBM wells. Kennedy is nearing production with the completion of its 19 kilometre pipeline.

Planet plans to drill up to eight stratigraphic wells totalling 7,300 metres on the project to confirm the total coal isopach mapping prior to development drilling programs.

It said it had contracted CBM industry consultants Goolsby Finley and Associates of Casper Wyoming to provide on-site supervision of the initial drilling program while Top Drive Energy Company LLC of Gillette Wyoming is providing drilling services with its Rig 111.