new linc energy, page-3

More news...similarities are there. Market cap of $61 million.

'As previously advised in our release of 7 November 2007, Metex is in the process of becoming a significant energy company specializing in the development of UCG as a
significant source of economic quantities of syngas suitable for power generation and coal to liquids opportunities following the acquisition of 100% of CEPL.

Subject to the receipt of shareholder approval for the transaction Metex will hold the100% of CEPL as a wholly owned subsidiary, allowing the company to fast track the development of UCG demonstration at Bloodwood Creek in the Surat Basin, 55km west of Dalby in southeast Queensland.

Metex has raised these interim funds following the appointment of Thomas and Coffey of Brisbane as Project Managers for the development, and the satisfactory conclusion of all EPCM construction contracts. The development is budgeted to cost approximately $20
million and entails the construction of a 1PJ (petajoule) per annum syngas module.'