short term upside, page-31

Anual Report 2009: "Carbon Energy has submitted its Mining Lease application (MLA 50253). It is anticipated that these processes will be completed no earlier than December 2010, at which time Carbon Energy will be in the final stages of completing its financial assessment for the construction of major energy production facilities (power stations and syngas plants) in conjunction with our commercial partners."

Theres is plenty of fundamental newsflow ahead to support the SP in the next 6-12 weeks;

completion of design plan for the pilot stage in chile + FEED decision, first power generation for ergon into the local grid (5MW power station), power purchase agreement with Arcadia (25MW power station), mining lease application.