This is a copy of my post on CNX thread. Whilst I own CNX, I...

This is a copy of my post on CNX thread. Whilst I own CNX, I think MLM is certainly well worth some research in the light of their announcement today on UCG.
"It would seem the recent clarification on UCG leases & interest in CSG territory has finally alerted the market to some of the UCG players. Whilst I am happy with the performance of CNX. It is interesting to compare Market Capitalizations of some of the players.
CNX MC $197m with approximately $8 cash & excellent affifiliations.
CXY MC $37m small resource but looking for trial burn Jun/July 2009.
MLM MC $23m with $21.36m in cash & today announced UCG drilling program through its 84% owned Metro Coal Subsidiary. They have already drilled 8 successful holes that all recorded good coal interesctions (refer Dec.Qtr Page 22)whilst they hold over 4000sqkm in Surat & Ipswich basins. Like their quote from page 22 of Quarterly, "The Surat Basin coals are highly amenable to Underground Coal Gasification (UCG) with Linc Energy and Carbon Energy both developing their demonstration plants in the region".
It looks like all UCG may be in for a market re rating in the light of what is happening in the CSG sector.
MLM whilst the least advanced seems to offer huge leverage & value given today's ASX announcement & December Quarterly.
Please do your own research if interested in these companies & note market capitalization figures quoted were based on yesterdays closing prices".
Good reseaching
Buffett