CXY cougar energy limited

The irony in all this is that Carbon Energy used to be based in...

  1. 4,234 Posts.
    The irony in all this is that Carbon Energy used to be based in Perth (from the Metex days) and as of last year, terminated their agreement with Perth based Eneabba and moved to Queensland, whereas Len has been kicking around SE QLD for ever and a day and is now striking deals in Perth. Time to pack up the Cougar HQ and move to Perth to complete the switch-a-rooney.

    Also, cougar will supply the gas and eneabba will convert it to usable energy. Maybe a title change to 'cougar gas' and 'eneabba energy' is in the works :)

    Not disputing the possible supply benefits for Cougar, but they have struck and MOU with a cash poor company; which inherently means that there are going to be challenges in getting that station together and raising the funds to do so. The centurai-1 station is fully permitted which is a good hurdle, but they still have lead times for ordering the turbines and raising the funds to place the orders. It wont happen overnight, but it will happen.

    Note the italicised comment in The Australian article re a discussion on mining law for UCG is brewing.

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    Here is a spiel on the proposed Centurai-1 168MW plant (not the 200MW I mentioned earlier).


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    Coal-seam gas project goes underground
    Sarah-Jane Tasker
    April 16, 2010 12:00AM

    WESTERN Australia is on track to have its first underground coal gasification project, Cougar Energy and Eneabba Gas having struck a deal to power the resources sector in the state.

    According to Cougar Energy, it has signed a memorandum of understanding with Eneabba Gas for a joint venture to develop a UCG project to supply so-called syngas to a potential new power station in the Mid West. Each party will have a 50 per cent interest in Eneabba's Sargon coal tenements in Western Australia.

    Cougar Energy managing director Len Walker said the Sargon tenement coal resource near Dongara showed good potential for a long-life UCG project.

    "The economic growth outlook for Western Australia is positive, driven by the expansion of the resources sector," he said.

    "Similarly, in the Mid West of the state, we are seeing a number of resources projects announced, which will have significant electricity requirements and can be ideal long-term customers."

    The companies are planning further work on the coal tenements to estimate the size of the potential UCG project.

    UCG is slowly emerging as a new coal industry.

    The focus for the emerging technology has been Queensland, where three pilot projects are planned, but the Cougar deal could allow Western Australia to take an important role in the sector.

    The West Australian Department of Mines and Petroleum has circulated a paper about aligning UCG legislation within the Mining Act 1978 for Western Australia.

    "The review of our Sargon tenements was focused on identifying a partner capable of not only developing the UCG potential of the project technically but also a party that had the corporate acumen to deliver a suitable long-term commercial outcome that was favourable to the company and its shareholders," Eneabba managing director Mark Babidge said.

    Shares in Eneabba Energy rose on the news, closing 11.43 per cent higher at 20c.
 
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