Greenvale’s principal asset is its interest in an oil shale tenement granted by the Queensland Government in Australia. The tenement is the area of land subject to:
- MDL 330, known as the “Alpha” tenement, located approximately 500km west of Rockhampton, and 55km south east of the township of Alpha.
The Alpha deposit is extremely rich shale. The Alpha deposit consists of two seams – an upper seam comprising cannel coal shale and a lower seam comprising torbanite oil shale lens enclosed in cannel coal shale. Torbanite is a rich oil shale comprised predominately of algal components.
The Alpha deposit is a very rich oil shale deposit.