East Energy wrapped up its extensive drilling program at EPC 1149 in February, which had commenced in 2008.
The revised target of 1.8-2Bt of open cut mineable coal is up from the company’s original prediction of 1.5Bt.
More than 350 exploration holes were drilled at Blackall, with the final eight exploration holes completed in February.
East Energy worked in consultation with SRK consultants on the drilling program.
East Energy said it had commissioned SRK to prepare an updated resource statement which combined all of the new drilling data.
An updated resource statement is anticipated to be completed by the second quarter of 2012.
Raw coal analysis derived from exploration found ash at the tenement ranged between 17% and 27% while sulphur was measured at 0.35% up to 1.23%.
East Energy managing director Mark Basso said the new target had given the company the boost to continue moving forward with the project’s development.
“Our team have done an excellent job identifying such a large target in such a relatively short time,” he said.
“As the drilling program is now complete we will focus on infrastructure solutions and commence a scoping study.”
East Energy predicts a thermal coal open cut mine could hold a 15-20 million tonnes per annum production target with a 30-year mine life.
The coal rich area of the Eromanga Basin is only 200km away from the upcoming Galilee Basin.
International Coal and NSL Consolidated are among the other coal exploration companies with interests in the prospective basin.