It seems that Linc Energy actually may have coal reserves of 13 billion tonnes from the leases acquired from Gastech in the Powder River Basin?
I like the background of Gastech's owners and the fact they are now shareholders (that is if they haven't sold out). I don't think Gastech have completely updated their website?
Note that permitting of the UCG/GTL pilot plant takes around 24 months, so it coincides with Linc's announcements by end of this year.
Amongst everything else Linc is involved in and owns, the use of EOR in the Powder River Basin on their own oil fields (eventually) will be the ace. For now they will be purchasing the CO2 and will be implemented by at least end of this year from what Linc says. Then there's Carbon Capture and Sequestration........another story! Trials are underway in the southern part of Wyoming.
To anyone that has their doubts about the ability of entrepreneurs (ie: Peter Bond) to deliver, time will always tell. It never happens overnight. Thus far PB has certainly silenced many of his critics but there is still plenty of work to be done.
As recently as last month ATEC (Australian Transport and Energy Corridor) chairman, Everald Compton wrote a piece in his monthly newsletter. Not completely relevant to Linc's cause but a great summation of innovators.
"Most people to whom I talk want to scoff at clean coal projects and dismiss them as pie in the sky ventures undertaken by people who are real nutters, but throughout history, all great innovators have been jeered and ridiculed - Leonardo Da Vinci, Thomas Edison, the Wright Brothers, Madame Curie and others all suffered enormous abuse, but eventually made a laughing stock of their critics. The metropolitan trendies who sip their martinis and laugh at pioneers who risk their capital to give us a better life should get it clear in their somewhat shallow minds that if coal dies as a power source, causing all of our mines to close, then Australia will wind-up being the Banana Republic that Paul Keating once forecast" See below.
I believe (I keep saying this) Linc is on the verge of becoming a serious Energy player. Geographical and Product diversification has ensured Linc's success for the future in my opinion.
Below is an interesting read (not really relevant to Linc Energy) but worth a read if you're interested in coal.
