help, page-32

Hi Dex,

As much as I like Cougar there are 2 fundamental problems, 1 of a technical nature and the other a management nature.

Technical - this is Ergo (Cougar's UCG partner) 3rd pilot plants, trial runs call them what ever you like, none of the previous 2 have ever been commercialised. The 1st was Linc's Chinchilla burn from 1999 - 2002. The second was with Eskom in South Africa and now we have Kingaroy with Dr. Len. Let's forget Linc and Cougar atm...Eskom, one of South Africa's largest power suppliers, had Ergo commence its pilot burn in January 2007. 3 years later Eskom have still not progressed pass this initial pilot burn...why?

Management - Dr. Len and Ergo originally owned Linc and undertook the Chinchilla Pilot burn...they never commercialised Linc let alone floated it...why?

This is Dr. Len's 2nd attempt to commercialise UCG and Ergo's 3rd attempt...considering they have had so many goes to commercialise UCG do you think they will be able to do it this time?

IMO Dr. Len and Ergo are not to much different to CNX in that they are great at doing pilot plants but not taking anything to the next level. The 400Mw Power Station is a re-hashed plan from when Dr. Len and Ergo had Linc, it didn't work for them then and as they haven't changed their approach I don't see it working for them now.

Don't get me wrong, I think Dr. Len and Ergo are excellent technical people...but not commercial. Dr. Len needs to put in a commercial orientated CEO to run the show....then the commercial aspect of CXY will have legs.