According to the 51-year old company’s quarterly exploration report, diamonds in Russia and Angola, gold in Victoria, and the burgeoning phenomenon of ‘hot rocks’, continue to draw its attention.

Longreach spent about $45,000 on exploration and the associated administrative costs during the quarter.

In it oil exploration plays, Longreach holds a 100% stake in the onshore Carnarvon Basin permits EP-369, EP-405 and EP-410, but it is trying to attract farmin partners to these permits.

Longreach also has a 23.38% stake in another Carnarvon Basin lease, EP-439. The first-year budget and work program for that permit have been approved by the joint venture partners.

Interests in EP 439 are Empire Oil Company (WA) Limited 35% (operator) and Gulliver Productions Pty Ltd (both wholly-owned subsidiaries of Empire Oil & Gas NL, giving Empire a 44% stake in the permit), Euro Pacific Energy Pty Ltd (wholly-owned subsidiary of Pancontinental Oil & Gas N.L.) 23%, Longreach Oil Limited 18%, Indigo Oil Pty Ltd 9%, Falcore Pty Ltd 5% and Vigilant Oil Pty Ltd 1%.

Longreach’s oil and gas plays in Queensland’s Surat Basin are running well. The company has a 22% stake in Brisbane Petroleum NL, which in turn holds a 50% stake in Petroleum Leases 18 and 40.

Those leases produced an estimated 150 barrels of oil for the quarter.

Longreach’s Yellowbank 4 farmin well was also put continuously on production during the quarter.

Longreach also did some work on its hot rocks play in New South Wales, collating and studying technical data it and its partner Hot Rock Energy had gathered.

The company reported no significant exploration activity on its Russian (15% stake) and Angolan (50%) diamond areas.

On the gold front it is examining procedures for an appeal against the lapse of the exploration licences EL 4577 in Victoria. Longreach would earn 50% of that licence, were it to be granted.