Yes i attended, would recommend it to anyone who gets the chance in the future, great initiative even if you arent following any of the companies presenting.
The presentation was taken by Tony as Phil was unwell, and Tony gave a good account of the LCEP.
I believe the presentation content was that shown in the recent "Small Scale Commercial Pathway and Corporate Presentation" release to the market.
Would you believe there were no questions about the Linc Energy experience, although Tony openly asked the audience if there were any questions regarding (perceived) similarities. He made a point of still discussing the differences in geology, hydrogeology, land uses, regulation, etc. Also spoke about the plethora of existing infrastructure already available in the town, including bitumen roads and rail lines for export of manufactured products (urea) via road/rail.
He spoke again of the company's tendency toward a small scale power station, some capacity of which would be used to manufacture urea and so on - also commented on the price the only manufacturer of urea in Australia (Incitec Pivot) pays for raw gas ($8 GJ), and then about $2GJ to turn to urea. Commented that (whilst PCD will validate this) LCK would be able to produce gas for about $2 GJ, so profit margin on urea would be enormous compared to Incitec Pivot. Both small scale power station and urea plant have much lower capex than a 150 km pipeline to the Moomba to Adelaide pipeline or a 500 mw power station, and hence are ideal short to medium term revenue streams / options.
Tony also suggested flaring is on track for early Q3, as early as July. Final AN cant be approved until the likes of SafeWork SA have visited the site and checked over the constructed / established pCD plant (makes sense).
On a more observational note - referring to that presentation above, two slides really got the attention of the audience - the first one with the pie chart showing LCEP has 8% of Australian onshore contingent gas resources, and the second was the $/GJ as reflected by share price -LCK about $0.01 / GJ, whereas most companies in the same space for contingent resources priced about $0.50 - $1.00 per GJ, i.e. 50x or 100x more than LCEP. There were some dull murmurs after those slides and he had the full attention of the audience.
I think it is hard for most outside of coal mining or oil and gas industries to appreciate just how big this resource is - particularly the 'suits' that attend these sort of functions, however Tony and LCK nailed in my opinion.
All the best to all the Creekers over the coming months, will certainly be an entertaining 6 months.
LCK Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
(20min delay)