I don't think the rise has anything to do with the resources upgrade .
The QLD Govt has a long way to go before any investor will commit to funding UCG there .
Carbon Energy have to work on the assumption that there will be some contamination and choose jurisdictions which need the advantages and are not looking for an excuse to shut things down as they have been in the past .
Even the forecast shortage of gas on the East Coast may not happen because the LNG projects may be scrapped .
On balance as a long term shareholder I still think Carbon Energy's future lies mainly outside Australia - though in countries which respect I.P. better than China .
I suspect the rise is due to two things :-
1) Carbon Energy were woefully undervalued for a company with experience of actually running in-situ gasification so to an extent the re-rating is a correction .
2) The presentations in Singapore have caused the penny to drop for Far Eastern investors and institutions are getting involved . The commercialisation isn't as mapped out as for LNG Ltd but the way the share price went up has the hallmark of institutional investors .
Matisse , yesterday morning I had a plan to buy on dips but it doesn't look like there will be any .
Reckon this will blast past 10c and won't pause for breath till it reaches 20c .
CNX Price at posting:
6.9¢ Sentiment: Buy Disclosure: Held
