The announcement yesterday of "A response from DERM is anticipated in approximately 3 weeks" making it 21st Dec.
Assuming the response is not negative and that the approx is a little more accurate than inferred, adding another couple of weeks organising the requirements placed on the site, with the time of year in mind the earliest to go for a light of panel 2 is now mid Jan 2011.
If the trial time line is anything to go by, lighting and generation of a stable gas flow will be a month after that, minimum, with early March being more likely.
There is of course another concern about the core function of Carbon Energy and that is 'Gas production'. The 're-engineering' mentioned from the AGM hopefully solves the issues surrounding the problems with generation of an acceptable gas for the engines longer than the 9 months that panel 1 survived for.
The Key for Panel 2 will not just be Gas production but also constant gas quantity and quality production. I for one hope it works out, but still have reservations.
Cougar energy has also raised concerns about UCG and CSM in the papers this week.
Chile is an interesting one, which is basically an R&D for the Mining company involved. My question would be how does the Panel handle Earthquakes, what if the strata starts cracking from an earthquake? can the system still be controlled and what about water tables?
Looking forward to what the new year brings.
CNX Price at posting:
37.4¢ Sentiment: None Disclosure: Not Held
