The company said on Wednesday that it had the right to explore the 43.6 square mile property in the Green River Basin on the northeast flank of the Rock Springs Uplift under a deal signed with Anadarko Land Corporation.

The company’s drill program included rock type as well as lithological descriptions and seam correlation.

Previous exploration targets had been estimated at 500Mt across all tenements in Wyoming, according to Carbon.

While the tenements are ideally located close to existing natural gas and carbon dioxide infrastructure, acting chief executive officer Morne Engelbrecht said the tract represented a large resource for future underground coal gasification.

However, the current challenging gas market in the United States did not support the commercial exploitation of these tenements in the near to medium term, an official said.