Correct Karll, (sorry FW),Wish Anon would get back on here...

Correct Karll, (sorry FW),

Wish Anon would get back on here again, as what is being said, (elsewhere) too interesting, and really strikes a chord in my UCG, GTL thinking.

Anon's latest post, (get back on here Anon);


"You are right there, it wont be valued correctly now.

Reason is that the ASX/ASIC wont allow UCG companies to report their coal in PJ of Gas in Australia.

Even if the world leading authority SPE have approved a conversion from Tonnes of coal to PJ of gas for the UCG industry.

The reason the CSG sector took off was because they were allowed to report in PJ of Gas which allows Majors to get finance from international lenders to use as equity in the petroleum business.

UCG is forced to report on the ASX in JORC tonnes of coal as a miner.

In actual fact, CSG is the miner here as they mine water to release the Gas !!!

This is disgusting behavior as the pressure is being mounted by the majors onto ASX/ASIC who have dished out Billions on CSG reserves which only use 5% of the coals energy compared to UCG's 95% which would then re rate their investments with the banks and they would then be forced to write off some billions leaving them exposed for their stupidity.

I have asked the ASX/ASIC many many times and 2 years ago they said that it would be allowed in 12 month's. Nothing yet.

This is criminal.


It will take a Chinese State owned company that does not use finance to get this project off the ground.


I agree with Vretts. If Palmer doesn't flog the Coal of us but we receive a free carry that is not subject to dilution and he organizes a deal with a Chinese State owned. I'm in. "