cgv to fast track vic ucg syngas project

I love the headline in the below article..

http://www.proactiveinvestors.com.au/companies/news/7896/clean-global-energy-to-fast-track-victorian-ucg-syngas-project-7896.html


Wednesday, June 16, 2010

Clean Global Energy to fast track Victorian UCG Syngas project

Clean Global Energy (ASX: CGV) has had its Exploration License Application granted by the Victorian government for an area in the Gippsland coal basin and commenced work on its Victorian Underground Coal Gasification (UCG) project.

The area known as EL5270 is approximately 900 square kilometers and contains numerous exploration and other wells. Initial review of this area indicates black coal formations that appear suitable for UCG occur within this lease area.

Clean Global Energy intends to fast track its Gasification (UCG) project on EL5270. EL5270 represents "a strategic position in the Victorian energy corridor being in close proximity to power generators and other potential clients who could benefit from Clean Global Energy’s UCG Syngas."

Syngas is used for heating, power generation and the production of chemicals, fertiliser, ultra clean diesel and aviation fuels. The company is focusing on utilising its propriatry technology to generate a range of UCG-Syngas products.

Clean Global Energy’s Victorian UCG project will see an initial 5PJ commercial Syngas plant commissioned within the next 2 years. This plant is planned to be expanded up to 20PJ by 2015.

Design, pre-engineering and other works have already commenced on the plant and the company will shortly be lodging development applications and works programs with the Victorian Government.

John Harkins, chairman and CEO, said the company has commenced discussions with a number of power generators and has already exchanged a Confidentiality Agreement with an existing power generator.

"Granting of our Victorian Coal Lease is another key milestone Clean Global Energy has achieved and we are on track to achieve many more," he said