CXY cougar energy limited

That was the theme at Today's AGM.Attended by the usual...

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    That was the theme at Today's AGM.

    Attended by the usual suspects, plus several new faces, a little under 40 in all.
    I am told the Press was there(Age and thin Review, I think.

    Len gave a short explanation of the casing break, and also an overview of the bore sampling and monitoring.
    The situation with Kingaroy and the Qld Govt/Germ, was also placed in context with the recent CSG reports of "Trace" results 100 times higher than Kingaroy.
    Questions were asked about:
    Casing break,LW confident that will not happen again.
    Eneabba, nothing much will happen until after QLD Govt/Germ response to monitoring results mid Jan '11.
    Is UCG "under seige?", LW replied maybe so in Australia, but NOT so in the rest of the World.(South Africa,Asia, USA, etc.)
    Assets increased on last year (Kingaroy Eqpt) which are not "impaired" , Len explained they are all portable and can be relocated where needed.

    PWC strategic review to set future funding and operating priorities, due early
    next year, much of Aust focus hangs on Qld govt response.

    China focus looking positive, very good relationship with "Limitless", evidenced by their financial support.
    When asked, Len gave a qualified estimate of 1 to 2 years,for syngas to be first produced in China/Inner Mongolia, ie to a development stage equivalent to Kingaroy before the shutdown.
    Kingaroy on a little more than "care and Maintainence",lots of analysis of results,etc.

    Overall, Management is strongly assuring the Company is going in a positive direction, and is also quietly confident of an eventual good outcome in Queensland.

    DISCLAIMER.
    This is how I heard and remembered it, don't rely on my report for anything other than a general impression from a Layman,Mug shareholder.
    However, considering what has gone on this year, a fairly positive AGM.

    China is the saving grace at the moment, much,if not all of the Australian
    activity hangs on Kingaroy.
 
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