EPC 1992 has an exploration target range of between 50 and 150 million tonnes and covers 300 sub-blocks totalling an area of 947sq.km.

MPJ said it was initially attracted to the tenement because of its size, no impact from strategic cropping or native title and the possibility of shallow coals within the Orallo formation previously mined at the Maranoa colliery.

The project area is located 78km northeast of Charleville in Central West Queensland.

MPJ said a railway line ran from Charleville, about 70km south to Roma and then 550km east to the Barney Point coal terminal in Gladstone.

While the existing railway was not coal wagon-rated, MPJ believed the relative proximity to road and rail infrastructure might potentially provide access to the proposed tenure area.

It would result in facilitating the delivery of coal to the local port.

The company entered into an agreement to acquire EPC 1992, subject to its granting, from New Coal Energy.

MPJ is currently looking to raise up to $800,000 via a private placement of up to 40 million fully paid ordinary shares at 2c per share.

Following approval of the fundraising, MPJ will start exploration work at Etona, including a further desktop study, interpretation of aerial and sensing images, as well as a 2D seismic survey to further understand the prospectivity of the lease and finalise the initial drill program.

MPJ has pounced on coal acquisition opportunities in Queensland of late.

In March, the company carried out a definitive agreement to acquire Delcarmen Energy which possessed two exploration permits for coal applications north and east of Kingaroy.

The company says it will continue to seek further opportunities to develop a coal portfolio within Queensland.