Given that CXY has more cred than MEE in Len Walker and Ergo Exergy I would have thought the two bigger players would be LNC and CXY.
A takeover sounds great for a quick buck but shortsighted. I would prefer to be hearing that "partnerships" with majors looking to get into ucg were the scuttle ... imagine what a deal with RIO or BhP or in fact any of the coal or oil majors would do to the share price!
By my calculations, a second phase development of a depleted coal bed methane field as a UCG project could extend productive life (albeit with a different gas) by a factor of up to 10 times! Methane is only about 5% of the calorific content of a gassy coal seam whereas UCG can utilise up to about 80% of that energy content.
Underground coal gasification is potentially pretty big business with many environmental benefits for free (or at least with each set of steak knives lol).
Cheers Poyndexter
CXY Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held