Dan,
I think you will find that there are 4 UCG companies listed on the ASX. STX are an oil and gas company with a monthly revenue of about $3 million per month expecting to increase to $4 million per month very shortly. That puts their revenue at about $36 - $48 million per year. Their market cap is roughly $114 million. Their Rayburn gas discovery is worth up to 31 cents per share to STX for every 100 BCF. There is talk that it is 400 BCF. That means $1.24 per STX share. I believe STX are looking at spinning off a CTL company by using UCG on a 578 MT (JORC’d) lignite deposit in SA. If you have a look at their latest announcement you can read more or ask the guys at the STX thread, they are very well informed and really tell it the way it is.
MEE
metex resources limited
