Gerwyn Williams told BBC Wales' Week In Week Out programme he was confident the new mine was viable, adding it could herald the opening of four further pits by his company across south Wales.
The application to test drill near the village of Llandow in the Vale of Glamorgan may still happen, and there are six other potential drilling sites in south Wales accordiing to Gerwyn Williams, of Bridgend-based Coastal Oil and Gas Limited.