Planet Gas Limited is engaged in the acquisition and exploration of oil, gas, geothermal energy and coal bed methane projects. Its include segments: production and development and exploration and evaluation activities. It holds rights in Cooper Basin conventional and unconventional projects, South Australia, Sydney and Gunnedah Basin coal bed methane projects, New South Wales, and Geothermal project at Innot, Queensland. Bylong (PEL 468) covers 1,736 square kilometers and is located on the boundary of the Gunnedah Basin and Sydney (Hunter Coalfield) Basins. During the year ended December 31, 2011, it relinquished the geothermal exploration licenses ELs 7510, 7512 and 7513 in the Sydney Basin, EL 7146 in the Clarence-Moreton Basin, GELs 354 to 365 and 377 in the Eromanga Basin and GELs 448 to 461 at Leigh Creek in South Australia. In 2011, it drilled the Meads Crossing-1 exploration corehole in PEL 468. In 2011, it acquired two dimensional (2D) seismic data over PELs 468 and PEL 470.