I missed this section on first read of the latest announcement...

I missed this section on first read of the latest announcement ...

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"Subject to the outcome of a detailed feasibility study, European Gas intends to refurbish the gas
processing facilities at the Avion site and to redevelop the Divion and Désirée sites to generate electricity
as CMM has been classified in France as a gas to be recovered with priority to minimize its contribution to
the greenhouse effect (“energie de recuperation”). Electricity generated from CMM will therefore enjoy a
tariff in line with that generated from renewable energies attracting higher sales prices."
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So, we are going to generate electricity from the Divion and Deseiree sites for a premium return from produced gas ... what chance Tony McClure has vendor finance for General Electric turbines tee'd up or in mind as his next clever financial deal ... it would fit his fine efforts to date for minimal dilution financing ... and should lead to increased returns from the Gazonor acquisition.

Could this be a trial or a hint as to a possible development intentions for some of the Lorraine gas? Gain experience with small, gas fired turbine electricity production as a precursor to refitting aging oil/coal fired power stations in the Lorraine region?

I wonder when we get to hear what entity is providing the $58 mill funding package?

Dont let current share market conditions spook you ... Anglo was happy to stump up at between $0.93 and $1.08 for their 5% stake and the $1.20 convertible note funfing package is a done deal I understand.

Cheers
P'dex