Hi guys, I do remember PB sidestepping a direct question about the SA UCG Commercialisation plans at the '100 yrs of UCG event' in Sydney a couple of months back. It was quite embarrassing really, he blatantly pretended the question was on another issue, i think the SA shale gas find, and prompted to avoid a direct answer. As far as I am aware the last official announcement was saying aker kvaerner had been commissioned to do a detailed Engineering plan. Unofficially i believe I heard some rumours a while back saying that the Walloway basin, where they had planned to set-up the plant, turned out to be less than ideal due to porous sands capping the coal rather than a solid aquifer or sandstone band which would allow for the ideal pressures. I can't remember where I heard this info so read at your own risk.
Cheers, hope this helps.
LNC Price at posting:
$1.15 Sentiment: Hold Disclosure: Held