I just found an excellent presentation by LNC about UCG and would recommend viewing because at a price of $18 a barrel ex LNC, Australia's fuel needs will be satisfied at a remarkable saving to the public and the environment.
The presentation is at http://www.lincenergy.com.au/ and go to the "Play the DVD".
It must be remembered that of the 30 months that Chinchilla was producing Synfuel 21 months was under the control of Cougar's Dr Len Walker. The reason that he wasn't able to convince the world of the economics of UCG was the price of oil was still below $30 a barrel.
Len Walker is on the cusp of doing it all over again at Kingaroy and this time all the planets are lined up. This has to be a bargain if you compare it with Linc. The world is Len's stage so get aboard at these ridiculously low prices.
Direct Investment's isn't going to commit $280 million to a project that isn't going to return them a big payback.
CXY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
