would lnc takeover of cougar be a possiblity?, page-8

Allfuelledup

IMHO the decision to close down the Kingaroy site cannot be supported on the facts. I have wondered about potential casing issues previously and have referred to it once on this forum. There seems to be an inconclusive view within DERM that a "possible" explosion may have fractured casing or simply moved contaminated water and gunk up the pipe to a casing fracture. The issue was not so much that such an event may (or may not) have happened but rather that CXY did not appear to put forward a plan to ensure that such (still hypothetical) events would be monitored and managed in an appropriate manner. Everyone can read it at this link and come to their own conclusions I guess.

http://www.derm.qld.gov.au/environmental_management/ucg/documents/cougar-energy-report.pdf

I don't have a lot of cash to spare and if I do buy any CXY it will be on the basis their appeal fails and that someone (may) come along to pick up the pieces (be that Linc or some other party).

From the ISP report I note that the intellectual and technical power behind CXY are 3rd party consultants. Never mind the fact that one consultant stuffed up his presentation to the ISP, LNC could engage these consultants directly if the company should so want.

Another negative (as I see it) is that I can't find any reference to in-seam bore hole technology in the CXY Annual Report. Please correct me if I'm wrong here.

Positive tangents include non-Queensland insitu resources and some linkages to China for UCG development . Pakistan seems to be a less sure option. Would the Chinese buy CXY given its' reported lack of internal expertise? If the project is a real goer AND the Chinese side remains committed THEN CXY maybe a worthwhile target for LNC BUT the benefits would need to outweigh the company debt. Who knows. Maybe...maybe not....

cheers