This is also a report I posted a few months back that I found on the Liberty Resources site. A bit of a conflict if you ask me.....
This is out of the report from Liberty Resources
One of the comments below says LBY could replace CXY in the UCG trial. Something very fishy here
Reporting Process and Timeframes for UCG Policy
June 2011 - The Pilot Projects will submit a detailed technical report of their activities, impacts and findings
Mid to late 2011 A scientific expert panel will review the Pilot Project reports for the technical and environmental aspects of the UCG technology and will submit its analysis to the Interdepartmental Working Group
December 2011 - The Interdepartmental Working Group will report to the Queensland government on the future viability of the UCG technology in the state, including an assessment of the potential costs and benefits of UCG as well as an advice on the environmental sustainability of the technology
The report will then be submitted to the cabinet which will decide the future of the UCG industry in the state LBY has following window of opportunities for obtaining support of the Queensland government in the next eight months:
LBY could replace Cougar Energy as the third player in the three UCG pilot projects following the closure of the latter's Kingaroy Project
The current Queensland government could approve the development of UCG in the state following the submission of a favorable report by the Interdepartmental Working Group by end of 2011
The new Queensland government (to be elected in first half of 2012) could frame a new UCG policy based on the positive findings of a review conducted in the past three years
However in case of an unfavorable UCG policy, LBY has no option but to rely on its existing leases to carry out some possible coal mining and exploration.
Syngas, which is obtained from UCG process, will be ultimately converted to urea. The project will produce an estimated 1.89 mtpa of urea when operated at optimal capacity.
CXY Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
