After a good start PCE is falling behind on the information to investors. I understand the 'don't say anything until you can over deliver' thing but a few updates wouldn't go astray.
Has the rig moved on site at Kingaroy? What is the anticipated timeline for development of new leases?
More interestingly perhaps, we live in a time when it seems a major world carbon trading environment is about to be emplaced. This is more speculative and not directly an ASX announcement type issue but such a system would have major importance for a low C emission technology such as UCG.
In particular UCG is a low cost but high carbon emission electrical generation technology if the syn-gas is simply produced by heating very cheap deep coal and then fed through a conventional steam power plant (the initial, low capital option). However the carbon emissions from UCG relative to MWhr produced fall as electricity generation is swiched from conventional thermal cycle to gas turbine, then to combined cycle gas turbine/steam or Kalina cycle and finally to combined cycle gas turbine/steam and co-generation mode when the waste heat is used for an industrial purpose. Given the location, potential exists to co-locate low grade heat using industries such as grain/feed drying, bio-ethanol production, and so on near the power generation facilities.
Also, with the abandonment of the Papua New Guinea to Townsville gas pipeline, straight natural gas (coal seam methane) just got a lot more expensive so the opportunities for UCG got that much better.
PCE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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