Ann: December 2011 - Quarterly Report and Appendi, page-2

re: Ann: December 2011 - Quarterly Report and... Just thinking....

'The Company is currently undertaking a strategic review of its business operations and has engaged corporate advisor Pacific Road Corporate Finance (PRCF) to assist in this review. PRCF are independent of Pacific Road Capital Management, who are major shareholders in Carbon Energy.
The review will include options for expansion of the Company’s interests internationally as well as optimisation of its Queensland assets. In Queensland the Company currently holds a number of exploration permits for coal (EPC’s) which contain coal suitable for UCG and conventional coal resources'

I wonder whether this is a sign that CNX will seriously consider selling off its conventional coal resources in Qld and head off overseas? Thinking about the local politics that are far better for conventional mining than gas manufacture via any methodology and that there is the Carbon Tax issue that Australia has designed for itself, CNX may be better off to use Qld as a lab, prove the concept sufficiently for overseas clients (effectively done now?) and bugger off.

I do not know how marketable the conventional coal resources are - no doubtPacific Road Corporate Finance (PRCF) will find out.

Thoughts anyone?