bp and lawrence livermore ucg, page-12

“I think you better take another look at the list of potential projects that CXY has access to through it's already negotiated farm-in agreements.”

What others are there?

“This in itself should give you a pretty good idea of the likelihood of success of this project.”

You will not know that until the trial burn is complete. If the hydrostatic pressure is not more than the operating pressure of the burn, then it will not be successful.

“You speak as if there is only room for BP in the UCG environment globally.”

No. CXY is a small fish in a big industry. Don’t try to fool other people into thinking that some white knight will come along and buy CXY for 50 cents or $1. They may, but it is highly unlikely.
50 cents would give CXY a market cap of $338 million (fully diluted). $1 would give CXY a market cap of $676 million (fully diluted).

Why would anyone want to pay $676 million for a company that doesn’t even have a proven resource yet? I know Ergo Exergy charges like a wounded bull, but even they don’t cost that much. Major companies will simply deal directly with the UCG technology providers.

“They are starting to develop a knowledge base on UCG - a long way behind Dr Len Walker and Cougar Energy which is likely to have a successful burn before the middle of next year.”

Yes but BP has something that CXY doesn’t – Cash. $2 million will not go far. It will probably fund their drilling, administration and operating expenses for the next 12 months before their next capital raising.

“ill-drawn conclusions”

Like there is some big news in the pipeline?

“are you knocking it to get people to sell so you can buy at ridiculously cheap price”

No. I believe there are people here on HC that spread false rumors that there is some big news in the pipeline while they pump and dump the stock making a profit off unsuspecting victims.