cgv in the australian

http://www.theaustralian.com.au/business/mining-energy/cooking-with-ucg-gas/story-e6frg9ex-1226015999083

Cooking with (UCG) gas Robin Bromby From: The Australian March 04, 2011 3:17PM Increase Text SizeDecrease Text SizePrintEmail Share
Add to DiggAdd to del.icio.usAdd to FacebookAdd to KwoffAdd to MyspaceAdd to NewsvineWhat are these?ITS stock rose 10 per cent yesterday after a bullish analyst's report, but the company concerned has plenty of admirers.
The ?cooking with gas? line, in this case of the underground coal gasification (UCG) type, heads a report on Clean Global Energy from Stock Resource, a report which has the authority of an independent view of the company. That independence is important ? there are so many reports these days where the company has commissioned an analyst. The Thursday rise clipped the ?buy up to 8.4c? recommendation, the stock trading at 9.1c on Friday afternoon.

There are plenty of Pure Speculation readers who also like the stock and have been urging us to give it some coverage.

Last month CGV teamed up with Mumbai-based Essar, the multinational oil, gas and power company. Under the agreement, CGV will develop a pilot plant and a commercial-scale one, handing the management to Essar when the latter has been commissioned.

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Stock Resources sees this deal as providing the potential to generate significant revenue for Clean Global Energy though licensing, servicing and royalty income. It will also mean improved access to capital cash ? the lack of which has constrained the stock market performance of the company to date.

CGV also recently announced a partnership with US energy company AES on an underground coal gasification project in Oklahoma, and which Stock Resource says also represents a good opportunity for early commercialisation

In brief, Stock Resource sees this as a high risk-high reward proposition.

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The writer implies no investment recommendation and this report contains material that is speculative in nature. Investors should seek professional investment advice.