CXY cougar energy limited

Key Points from last nights meeting:-1. Environmental Report to...

  1. 446 Posts.
    Key Points from last nights meeting:-

    1. Environmental Report to DERM not acceptable and further information is required (Head of DERM - John Bradley).

    2. Cougar Energy to be fined or possibly closed down for contaminating groundwater and breaching their environmental authority, existing approvals did not allow for contamination. (MP - Kate Jones).

    3. UCG Expert panel (Dr. Chris Cuff and Chris Moran) clearly stated they have no experience in UCG and that their experience was contained within the UCG companies only. Panels experience, which was exceptionally good, was in ground water in soils, coals etc and gasification. One panel member missing (Joe Da Costa) he had the knowledge of gasification but it wasn't with UCG more to do with above ground gasification).

    4. Expert Panels scope of works, which appears to be a short 2-3 page dot point document (copy provided by local resident) is to review the operating procedures around the UCG process each company (Linc, Carbon, Cougar) uses including monitoring, process management, systems management, safety, groundwater, air pollution and other operating and environmental controls. Their approach to this is in a consultive manner with each company however, their priorities have now focused on Cougar, as directed by the Government, given the contamination incident.

    5. Each company (Linc, Carbon and Cougar) had already submitted information on their technology and procedures and the "Expert Panel" found significant holes in the information provided and had requested each company to provide further information.

    6. The panel had reviewed the recent environmental report and indicated Cougar has not addressed all the key criteria and have been requested to provide more information.

    7. Apart from concerns about water contamination local farmers whose cattle were exposed and quarantined by BioSecurity and subsequently had the banned lifted had still not been provided results from "fat tests" that BioSecurity undertook to see if the cattle had been contaminated.

    8. Both Bradley and Jones made it very clear that they were a long way off lifting any restrictions on Cougars operations and that this wouldn't happen until all investigations had been completed and a final decision on what action the Government would take against Cougar was decided.

    This meeting was certainly not as heated as the July meeting, but it is very clear from the comments made by the UCG Panel, Bradley (DERM) and Jones (MP) that the review of Cougar has a long way to go and until the review was complete and the QLD government decides on what action they will take, (whether it be just a fine or closure), the banning order will remain in place.

    Its clear the government is in no hurry to lift the ban and IMO given the tone of comments made by Bradley and Jones, the QLD government is trying to close the Kingaroy site down.


 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.