CXY cougar energy limited

With the unanimous decision at yesterdays EGM, to issue SE Qld...

  1. 523 Posts.
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    With the unanimous decision at yesterdays EGM, to issue
    SE Qld Energy, [subsidiary of Cockatoo coal] [SEQE] 15m
    shares,paves the way for cougar to explore for and access
    any coal seam deeper than 150m on SEQE's tenements in the
    Surat with no royalties payable.

    An agreement is soon to be established between Cougar and
    SEQE for the northern half of their EPC 1134 tenement.Which
    butts onto Cougars EPC1118 in the rich Surat basin.

    Cougar and SEQE are currently investigating further
    suitable areas in EPC 1134.With a view to finalizing an
    application with the Qld Mines and Energy,for a mineral
    development licence,that will pave the way for a host
    of future agreements between these two companies.

    Cockatoo coal has around twelve other tenements that
    Cougar can access by agreement and the potential for
    further deep coal discoveries is high.

    The JV agreement between Cougar and Ignite Energy on
    EL 4416 in South Gippsland,with an identified resource
    of 419 square km region at depths between 100-700 mtrs
    is in its final stages,with drilling to commence in the
    last Quarter of 09.

    As Len Walker states...even if only 10% proves to be
    suitable for UCG,the target resource would be one BT
    of coal with potential gas production to supply a 1000MW
    power station for 200 years.UCG lower emissions tech
    will be welcomed by Victoria..for the state is heavily
    reliant on "OLD" brown coal fired power stations with
    high CO2 emissions.


    The 186MW first phase,of a 400MW power station at Kingaroy
    will be commissioned late 2012 early 2013.Using a combined
    cycle gas turbine [CCGT],consisting of both gas and steam
    turbines.The latter using the heat saved from the gas
    turbine in a boiler system to generate steam for enhanced
    electricity generation.

    By 2014 using another module, power will be ramped up to
    1480GWh,1902GWh in 2015 and a steady rate of 3168GWh
    from 2016 onwards.

    Queensland is projected to become Australia's largest
    energy consuming state by 2017-18.With primary energy
    consumption forecast to grow 64% by 2029-30.
    [NSW + 30%,Victoria + 31%].

    Currently "ADVANCED PROJECTS" for electricity generation
    is ONLY ADDING A FURTHER 5.4% CAPACITY to the Australian
    supply.

    Patterson's have already rated Cougar a "buy" at 19c and
    that's without Wandoan,Victoria,and the future agreements
    with SEQE on their deep coal tenements.

    This company is "grossly" undervalued IMO and re-rating is
    well overdue.

    HM.














































 
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