It's just vendor fodder as far as I've been able to determine. It sells for 15 - 20 pp to vendors, depending on your cha and fac. EQ Traders doesn't even have a listing for it, and it doesn't have the tradeskill flag in the item info, so unless it's something in place for a future recipe that hasn't been implemented yet, it's useless, and I'd just sell it.
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There are three things in life that I'm sure of:
No good deed goes unpunished...ever...
No matter where you go....there you are.
Ignorance is a condition that can be remedied by education and experience...but there is no cure for stupidity.