lnc,cnx,cxy valuations, page-34

here is the policy or a part of it:

"During the pilot phase of the above three projects (cxy,lnc, cnx) there will be no further UCG pilot projects allowed on public interest grounds. However, the Minister for Mines and Energy will have the discretion to approve additional UCG pilot projects which have a strong ability to further demonstrate the efficacy of UCG technology."

Now CGE have gone and announced that they are moving to Vic for UCG as they don't believe UCG will be viable in QLD because of the govs UCG policy.

All that demonstrates is CGE having a lack of confidence in it s own abilities, certainly does not in any way indicate UCG is dead in QLD. Not by a long shot. In fact on the news tonight Bligh announced a 70 bil coal export deal, saying, they are looking to make the industry cleaner. That tells me there shouldnt be a problem for CXY should the trial be successful.

http://www.dme.qld.gov.au/zone_files/Mines/ucg_policy_february_2009.pdf