The timing of this when undergoing Wyoming (Federal EPA) authorization review and final stages of ISP decommissioning (for both CNX and LNC) process is very suspect in my book. CSG and USG are not compatible so I'm sure that CSG would love to see UCG sidelined. There is a lot of CSG money in Queensland, the Qld Gov. even passed a Bill for CSG to create Gasfields Commission. Which for my understanding works at streamlining CSG.
How these "charges" were announced is also pretty suspect as well. The end result until this is resolved is certainly not going to do LNC or UCG any favours.
Other than information to the actual charges I doubt we will see much info return other than along the lines of LINC will "vigorously defend these charges". Any inquiries may well be met by "We are unable to comment until the legal processes are completed".
Moving offshore and closing down Chinchilla seems a good move in this hindsight.
IMO UCG (ISCG) will be advancing overseas long before we get a look in in QLD.
LNC Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
