My recollection is that when PGY first went into TH the issues...

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raimop

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36

01/05/21

12:46

Post #: 52866776
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Originally posted by Luvlife: ↑

Yes when BP closed the refinery it threw a total spanner in the works.
As we are now informed caused significant impact and cost to PGY.
Looks like we finally see some light in the tunnel.
Be very nice if we can be awarded some funding -
Commonwealth Carbon Capture,
Use and Storage Development fund In March 2021,the Company submitted two separate applications to the Commonwealth Government’s Carbon Capture, Use and Storage Development Fund.
A total of $50 million in grants is available under the program with a minimum grant of $0.5 million up to a maximum of $25 million to cover up to 100% of eligible project expenditure1.
The Company submitted two applications relating to the proposed Cliff Head Carbon Capture, Use and Storage(“CCUS“)and the proposed South West Hub Carbon Capture and Storage(“CCS“)and Blue hydrogen projects.
RISC Advisory Pty Ltd (“RISC“) assisted the Company with the technical aspects of the Cliff Head application and identified that a potential CCUS project which leverages existing assets and infrastructure could store CO2 at a cost that was consistent with the Commonwealth Government’s 1https://www.business.gov.au/grants-and-programs/carbon-capture-use-and-storage-development-fundtarget of ~$20 per tonne of stored CO22.
The South West application involved Pilot’s existing petroleum exploration tenements EP416/EP480 which overlay the Harvey CCS project (also known as the South West Hub CCS project). Led by the Western Australian Department of Mines, Industry, Resources and Safety, four wells and seismic surveys have been completed since 2011at the South West Hub CC.

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My recollection is that when PGY first went into TH the issues that needed to be addressed were a speeding ticket and an acquisition
At the time posters were of the view that the acquisition related to a renewable company some mentioned Infinite Blue Energy as a possibility. Now the acquisition causing concern is Royal?
So if the Royal acquisition is voted down at the AGM then the flow on from that is that the partnership with TEG is finished?
It seems that Brad is committed to the renewable energy path so really need to get Royal so can get access to TEG infrastructure and advance the solar and wind projects
Whilst this explains the long TH this needs to be sorted so both PGY and TEG can move on and we shareholders can decide where to invest our money.
I currently hold both!

PGY Price at posting: 8.2¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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