Ann: Dispatch of Prospectus and Entitlement Form , page-9

re: Ann: Dispatch of Prospectus and Entitleme... Hi Jazza
The BC story is certainly a drawn out affair - with all the delays, the general climate in Queensland towards CSG and UCG and DERMs snail pace in assessing the CNX application to up the rate at which coal is burned to feed the 5MW demonstration plant. It's enough to try the patience of most investors including myself. I have now accepted that CNX will likely be able to generate no more than 1MW for sometime. It is an apalling state of affairs that the bureacracy appears to have no set timeframe within which it is required to make a decision.

1MW will demonstrate the viability of producing electricity from UCG but as far as the future goes in Queensland I have basically written off the possibility of any expanded development - 25MW 300MW and gas for a urea plant - despite the much publicised plans of CNX. In this climate it seems more of a pipe dream (unfortunately not a gas filled one). As an investor I think the best we can hope for the next 2 years is that CNX will confirm gas production in Chile and that their partner commits to a decent sized development some time in the next 12 months. That should give the share price some traction with any luck.

Sorry to sound a bit despondent but I have grown a bit tired of the repeated talk about future development in Queensland.

Cheers to all holders an may our patience be rewarded.
Temp