# CNX - Carbon Energy



## Joe Blow (16 July 2008)

Carbon Energy Limited (CNX) was previously known as Metex Resources Limited (MEE).

For information on Metex Resources please refer to the now closed MEE thread which can be found here: https://www.aussiestockforums.com/forums/showthread.php?t=4899


----------



## Calliope (30 July 2008)

There have been no postings on this thread since the change of name. What is going on,has everyone lost interest In Carbon Energy? I found the quarterly report out today to be very encouraging The stock has been going backwards lately but there has been no bad news. I am in for the long haul here as well as LNC and CXY.


----------



## Red Fatboy (30 July 2008)

I have been wondering exactly the same thing .I hold cnx and cxy and have been amazed at the total lack of interest shown in both these stocks of late.Does anyone out there have any ideas why?


----------



## unit (5 August 2008)

Red Fatboy said:


> I have been wondering exactly the same thing .I hold cnx and cxy and have been amazed at the total lack of interest shown in both these stocks of late.Does anyone out there have any ideas why?




quietly confident 

I topped up today, hopefully we'll get another leg up soon. No bad news with CNX, and LNC is travelling well so no complaints from me.


----------



## springhill (7 August 2008)

62 - 66 10:10:42 am 40 71,000 0.5 $28,400 5 
60 - 61 10:10:36 am 40.5 3,000 0.5 $1,215 2 
59 10:10:28 am 41 20,000 1.5 $8,200 1 
58 10:10:03 am 42.5 10,000 0.5 $4,250 1 
54 - 57 10:09:56 am 43 45,700 1 $19,651 4 
51 - 53 10:09:48 am 44 12,000 1 $5,280 3 
50 10:09:36 am 43 10,694 2 $4,598 1 
48 - 49 10:09:36 am 45 9,500 1 $4,275 2 
45 - 47 10:09:35 am 44 20,000 1 $8,800 3 
38 - 44 10:09:17 am 45 25,422 1 $11,440 7 
35 - 37 10:08:18 am 46 9,384 1 $4,317 3 
32 - 34 10:07:33 am 47 12,000 1 $5,640 3 
30 - 31 10:07:31 am 48 3,100 2 $1,488 2 
27 - 29 10:07:08 am 50 72,100 0.5 $36,050 3 

Ummmm obviously my eyes arent decieving me here, who in their right mind would dump CNX shares down to 40 cents? 14 cents below the opening price?


----------



## bluedylan (7 August 2008)

I assume you all saw the article in the Australian today, but for those who havn't read it here it is:

edit:  as of 12pm CNX is down close to 30%...not good.


State lets off steam in coal gasification plans

Lenore Taylor, national correspondent | August 07, 2008

THE Queensland Government appears to be putting the brakes on its emerging coal gasification industry as it considers environmental concerns and whether the industry can co-exist with plans for a $20 billion LNG export industry.

Queensland's coal fields have attracted an investment bonanza in recent years as companies including Santos and Queensland Gas Company plan to use coal seam methane to develop a massive new LNG export industry, and other firms such as Linc Energy continue long-standing efforts to commercialise the entirely different coal gasification technology, which burns coal deep underground to extract a gas that can be liquefied into diesel and aviation fuel.

Federal Resources Minister Martin Ferguson has hailed both CSM and coal gasification as crucial to Australia's future energy security.

But the Queensland Government has realised that in several cases it has issued rights over the same tenements to companies pursuing each of the technologies -- even though most say they are incompatible because the coal gasification process burns the methane that the CSM producers are seeking to extract. And the Government now believes that in the long run the market will support the full-scale development of only one of the technologies, with cost and greenhouse emission levels from the production process the deciding factors.

"I expect both will develop until the market works out which one is most cost effective, but at the end of the day only one of these technologies will emerge as the winner on cost and greenhouse grounds," Queensland Climate Change Minister Andrew McNamara told The Australian.

In the meantime, as it seeks to sort out the problem of overlapping coal gasification licences issued under the Minerals Resources Act and CSM licences issued under the Petroleum and Natural Gas Act, the Queensland Department of Mines has sought advice from the Queensland Conservation Council and has heard deep concerns about the environmental impact of the coal gasification process, including its carbon emissions and claims that it could contaminate ground water.

The QCC told The Australian that it considered coal gasification a "more environmentally questionable resource" than CSM and had recommended to the Government that no UCG project should receive approval to commercialise in Queensland.

A spokeswoman for Queensland Mines and Energy Minister Geoff Wilson said the Government "has no intention of granting production tenures for underground coal gasification for at least three years".

"Underground coal gasification is a new technology, untried in Australian conditions, and it poses some potential problems, especially with groundwater systems," she said.

"We will only do what is best for Queensland. In this case, we don't believe it's in the best interests of Queensland to grant production tenures for technology that is untried."

And Mr McNamara said his department had asked Linc Energy -- the most advanced of the coal gasification companies -- to perform new demonstration trials so that the Environmental Protection Agency could monitor emissions and groundwater quality. "Linc has been asked to do another more rigorous trial of its technology; it is critical we make sure we don't contaminate our groundwater," he said.

Linc CEO Peter Bond, whose company has a market capitalisation of $1.45 billion and has seen its share price rise from just 20c to $3.50 over the past two years, rejects the notion that his technology is incompatible with CSM performing stringent environmental assessments entirely of its own volition.

"All we are looking for is a fair go. These technologies can work side by side and that would surely be what was best for the state ... it's just that Queensland Gas appears to want the Government to give it all the ground for itself," Mr Bond said.

"As for the environmental assessments, we haven't been asked to do anything; we're setting our own standards at the highest possible levels because we have to be seen to be the best."

The Queensland situation is being monitored with concern by the peak national body for the oil and gas exploration sector, the Australian Petroleum Production & Exploration Association.

APPEA chief executive Belinda Robinson said: "These technologies are fundamentally incompatible activities. These are issues that need to be urgently resolved.

"We will work with the Queensland Government to do that," Ms Robinson said.

The Queensland Government is also monitoring the impact of the CSM producers on groundwater, particularly proposals to reuse the water in agriculture.

Linc says its proposed underground production processes create only about 8 per cent more carbon dioxide than the process to create regular diesel, but that its fuel is much cleaner.

In a speech to a coal-to-liquids (CTL) and gas-to-liquids conference in Brisbane in February, Mr Ferguson said he regarded the technologies as "the key" to Australia's future energy security.

"CTL will soon be real right here in Queensland at Chinchilla. Linc Energy is about to open a pilot plant that will produce 5 barrels a day of ultra-clean diesel using gas feed from its underground coal gasification project," Mr Ferguson said.

"This is a very exciting development at the cutting edge of energy science and technology, and I wish the company every success in scaling up to commercial volumes."

Mr Ferguson's department is developing an "action agenda" for the emerging industry. But conservationists argue that the Government should not support any technology that makes the climate change problem worse.

"It beggars belief that in the face of climate change and the urgent need to reduce emissions, anyone could seriously promote liquefying coal to make a fuel that will damage the atmosphere more than conventional fuels, even if only 8 per cent more," Greens senator Christine Milne has said.


----------



## Stykes (7 August 2008)

No not good. Doesn't get much worse than 30% in a day.

But I am taking at least a mid-range view to this stock (i.e until sucessful completion of trial burn), and am betting this will all be water under the bridge by then.

Why?

Well, frankly, the story is highly sus. 

I urge everyone to consider the following:

- In April this year, the Queensland Government introduced the _Clean Energy Bill _, which ammends the _Mineral Resources Act 1989_ and the _Petroleun and Gas (Production and Safety) Act 2004_ and clarifies the tenure and safety arrangements for UCG. The Bill sets out appropriate mining and petroleum tenures and the relevant safety and health requirements that apply to the various stages of exploration, testing and production of UCG.

- Changing this leglislation to introduction a 3-year moratorium on UCG would nessecarily be a highly public exercise. It is not something that can be achieved by way of an *unattributed* statement in a newspaper. Linc also release a statement today dimissing this as a lie.

- In reality, the only circumstance in which a approval would not be granted is if the company failed to comply with its environmental and safety requirements.

- Concerns that UCG may potentially contaminate groundwater is well documented and not new. But having read Dr Mallet's reports on CNX's technology, I believe that CNX has adressed these issues. After all, CNX bought its own unique variation of UCG from the CSIRO which was developed with a specific view to addressing such environmental problems. CNX seem very confident that they have the answer.

- The Queensland Government would leave itself open to serious legal action if it did anything to prejudice the progress of companies such as LNC or CNX, who have full approval for their trials. It won't.

- So what is the Government's deal? These are new technologies that straddle both mining and petroleum legislation. It has f*ucked up and granted overlapping tenaments to companies which it's not sure fall under this act or that act. Which is why it brought them all together under the _Clean Energy Bill 2008_. It has also created an intergovernmental working group to find a way for all parties, Government, CSM and UCG to work together. It seems to me that the Government is doing everything it can to find a mutally agreeable solution to the situation.

My guess is this is a (seriously damaging) lobby piece driven by someone close to the CSM industry. Underneath the inaccuracies and spin in the story, I note that the Climate Change Minister states he expects both technologies to progress with market forces (rather than government) to decide which survives. Except, rather than the neutral statement that it is, the journalist presents it as an indictment of UCG! I also note that the story acknowledges the CSM's unproven environmental credentials, but buries the fact towards the end. To me, this suggests a biased piece.

Last but not least, this article is about Linc Energy, not Carbon Energy. To the best of my knowledge, there is no problem with overlapping tenaments in relation to CNX's site at Bloodwood Creek. But while LNC (and other UCG players dropped) around 10-12%, Carbon Energy dropped over 30% WTF?!?! Surely this suggests a correction in our favour soon? I hope so!!


----------



## ColB (7 August 2008)

*Originally Posted by Stykes*


> My guess is this is a (seriously damaging) lobby piece driven by someone close to the CSM industry. Underneath the inaccuracies and spin in the story, I note that the Climate Change Minister states he expects both technologies to progress with market forces (rather than government) to decide which survives. Except, rather than the neutral statement that it is, *the journalist presents it as an indictment of UCG!*




'The Journalist' just happens to be Lenore Taylor.  

Lenore Taylors background, no matter how well decorated as a journalist also includes being a former Australian Greens candidate for Moggill.

Her resume as follows:



> "...I have been a member of The Queensland Greens for seven years and have been a candidate in the seats of Moggill (2001) and Inala in the previous State Election. I have also been a candidate for the Federal Election seat of Moreton for the past two elections. As an elected Greens ¡¦ candidate I know I could make a difference.
> 
> Positions I have held in the Queensland Greens are:
> 
> ...




Now there is nothing wrong with having concerns about the environment but just maybe the journalist has been having a bit of a pow wow with fellow Greens member, Senator Christine Milne who had this to say.....



> But conservationists argue that the Government should not support any technology that makes the climate change problem worse.
> 
> "It beggars belief that in the face of climate change and the urgent need to reduce emissions, anyone could seriously promote liquefying coal to make a fuel that will damage the atmosphere more than conventional fuels, even if only 8 per cent more," Greens senator *Christine Milne* has said.




Disclosure: I do not hold CNX but do hold LNC


----------



## loopy_louie (8 August 2008)

This is an absolute discrace..... That article wasnt any solid evidence about the qld government disliking the csg.... 

CNX SP price has dropped over 45% in the last 2 days as apposed to linc's SP down 3% in the 2 days.... The article was specifically talking about linc, so if anything linc should have dropped more than CNX... 

Can someone please EXPLAIN>>>>> 

 Thats a bloody joke.... Carbon Energy's management should step in and do something about this mess...... 

No info has been given to their loyal shareholders....

Iam sad to say but i disclose HOLDINGS....


----------



## grace (8 August 2008)

loopy_louie said:


> This is an absolute discrace..... That article wasnt any solid evidence about the qld government disliking the csg....
> 
> CNX SP price has dropped over 45% in the last 2 days as apposed to linc's SP down 3% in the 2 days.... The article was specifically talking about linc, so if anything linc should have dropped more than CNX...
> 
> ...




Has been hit badly over the whole debacle.  Picked up my first parcel today as they have been on my shopping list for some time.

Seems to be stabilizing today though.


----------



## springhill (8 August 2008)

loopy_louie said:


> This is an absolute discrace..... That article wasnt any solid evidence about the qld government disliking the csg....
> 
> CNX SP price has dropped over 45% in the last 2 days as apposed to linc's SP down 3% in the 2 days.... The article was specifically talking about linc, so if anything linc should have dropped more than CNX...
> 
> ...




I agree with grace, ive seen it as a buying opportunity. Waaaaaaaay oversold IMO didnt think id see this one down at this level again. Thanks to the tree hugging, hippie, greenie, one eyed, **** for brained author of that article uv done me a great favour


----------



## bluedylan (8 August 2008)

springhill said:


> I agree with grace, ive seen it as a buying opportunity. Waaaaaaaay oversold IMO didnt think id see this one down at this level again. Thanks to the tree hugging, hippie, greenie, one eyed, **** for brained author of that article uv done me a great favour




Thats what i am thinking springhill.  However with the market in its current climate i am very hesitant to buy into anything at the moment.  But hey, maybe it is my young and inexperienced mind talking. 

It seems to have stabilized for the moment.  Hopefully some good announcements will propel the sp upward in the coming weeks and months.


----------



## springhill (8 August 2008)

bluedylan said:


> Thats what i am thinking springhill.  However with the market in its current climate i am very hesitant to buy into anything at the moment.  But hey, maybe it is my young and inexperienced mind talking.
> 
> It seems to have stabilized for the moment.  Hopefully some good announcements will propel the sp upward in the coming weeks and months.




If my memory serves me correctly bluedylan CNX are due to release announcements in each of the next 3 months in regards to further coal resource increases and the impending trial burn in October. Of course in light of the article released in the Australian yesterday alot will depend on the environmental assesments that will follow from the burn. Im a strong believer in this one but DYOR


----------



## woltage (9 August 2008)

grace said:


> Has been hit badly over the whole debacle.  Picked up my first parcel today as they have been on my shopping list for some time.
> 
> Seems to be stabilizing today though.




I would tend to agree, largest volume in 3 months went through today, over a range of 6c. Indicates to me that there is now a large number of fresh buyers around the 37c mark. In the absence of more bad news i'd expect it to hold

Disclosure: I dont hold any CNX, but wish I did (just wacked all my spare cash into EGO


----------



## unit (9 August 2008)

Yep, I stocked up,
recycled garbage from the article is in the Weekend Australian today.
I didn't think it would go this low again and am not expecting it to stay there much longer.


----------



## springhill (12 August 2008)

Short term CNX is really starting to concern me, this is in danger of falling back sub 30 cents. Ludicrous considering the other 2 UGC players in Queensland ( LNC and CXY ) have held their ground comparitively well. Cant understand why this one has had the big stick taken to it. Unlike LNC, CNX has no tenemant conflict, and it is miles ahead of CXY in terms of development. Doesnt seem to be able to gain any traction for a share price rebound. Long term the future for this one is bright IMO. James id like to hear your opinion


----------



## grace (12 August 2008)

springhill said:


> Short term CNX is really starting to concern me, this is in danger of falling back sub 30 cents. Ludicrous considering the other 2 UGC players in Queensland ( LNC and CXY ) have held their ground comparitively well. Cant understand why this one has had the big stick taken to it. Unlike LNC, CNX has no tenemant conflict, and it is miles ahead of CXY in terms of development. Doesnt seem to be able to gain any traction for a share price rebound. Long term the future for this one is bright IMO. James id like to hear your opinion





Must be the dive in this causing IPL to dive today too.  Just kidding there.  What is the next resistance point anyone?


----------



## bluedylan (12 August 2008)

springhill said:


> Short term CNX is really starting to concern me, this is in danger of falling back sub 30 cents. Ludicrous considering the other 2 UGC players in Queensland ( LNC and CXY ) have held their ground comparitively well. Cant understand why this one has had the big stick taken to it. Unlike LNC, CNX has no tenemant conflict, and it is miles ahead of CXY in terms of development. Doesnt seem to be able to gain any traction for a share price rebound. Long term the future for this one is bright IMO. James id like to hear your opinion




i am also quite concerned.  it seems as though the market has taken a strong dislike to CNX over the past week.  SP under .30 at the time of this post.


----------



## springhill (12 August 2008)

grace said:


> Must be the dive in this causing IPL to dive today too.  Just kidding there.  What is the next resistance point anyone?




Hi grace have to go back to the MEE chart to find resistance, looks to be around 19 cents.... God Forbid!!!! Hoping this s a capitulation low today, fingers crossed


----------



## Evangeline (12 August 2008)

nice bounce this afternoon..will leave a long wick to form a hammer...buyers now finally outnumbering sellers too


----------



## springhill (12 August 2008)

I have written to Mr Ian Walker today asking what the hell the board is going to do about this mess. If they have been in talks with the QLD Govt since the arcticle, or if they are simply going to sit by and let this sink into oblivion. Also pointed out their ASX response to the arcticle was p!ss weak. Awaiting a reply..... maybe i shouldnt hold my breath
The only contact point i could find was metex@metex.com.au if anyone has another, or a more recent one id be grateful


----------



## swill (12 August 2008)

Sprigy,
why worry, nothings changed!!
This is just the last ditch attempt to get in at a low price.
Should be happy to pickup more at such a good price,
i say bring it on down people because when the trial proves 
to be a success there is only one way the sp is going.
Fear not seems to be a bit of manipulation here to weed
out the week im in for the long haul.


----------



## springhill (12 August 2008)

swill said:


> Sprigy,
> why worry, nothings changed!!
> This is just the last ditch attempt to get in at a low price.
> Should be happy to pickup more at such a good price,
> ...




As i have stated in a previous post swill, long term i am not worried. Just wanted to voice my opinion, as is my right to do so, to the board as someone who has invested hard earned dollars in CNX, as i am hoping other investors have aswell. I want to know the management is not taking this lying down and sitting on their hands.... i want some answers as to what they have been up to in the last week 
As also stated may have been the capitulation low today, the bounce off 26 today may prove me right or wrong, tomorrow should be interesting


----------



## Hatchy (14 August 2008)

Does anyone here have any detailed info on what it's going to take for CNX to get this thing going? i.e. How the engineering is going to work, what makes this any different to the LNC technology? etc etc?


----------



## springhill (14 August 2008)

CNX starting to look good today, sellers drying up up over 10% at the moment could see a nice run back up to fair value after being unfairly oversold. Fingers crossed


----------



## bluedylan (14 August 2008)

springhill said:


> CNX starting to look good today, sellers drying up up over 10% at the moment could see a nice run back up to fair value after being unfairly oversold. Fingers crossed




My thoughts to Springhill!

a nice ride today - up 19%.  I will be watching, as i am sure alot of us will, over the next few days to see what happens.  But after a week or so of being in the black it is nice to see a substantial rise.  

I look forward to the results of trials in October.


----------



## denis_413 (14 August 2008)

springhill said:


> Short term CNX is really starting to concern me, this is in danger of falling back sub 30 cents. Ludicrous considering the other 2 UGC players in Queensland ( LNC and CXY ) have held their ground comparitively well. Cant understand why this one has had the big stick taken to it. Unlike LNC, CNX has no tenemant conflict, and it is miles ahead of CXY in terms of development. Doesnt seem to be able to gain any traction for a share price rebound. Long term the future for this one is bright IMO. James id like to hear your opinion




hi springhill, where did you get that CNX has no tenement conflict?? 

i am a holder of CNX and in it for the long haul as i believe like many there is great potential here.


----------



## springhill (15 August 2008)

denis_413 said:


> hi springhill, where did you get that CNX has no tenement conflict??
> 
> i am a holder of CNX and in it for the long haul as i believe like many there is great potential here.




Aha good question denis, im going to have to put my hand up here and say mea culpa. CXY and CNX both released an ASX response to the Australian arcticle, and it was actually CXY that said they have no tenemant conflict ( the nearest party being 100 km away ) and mistakenly got the 2 announcements confused, here is a direct quote from the ASX response .....
"Along with other industry participants, Carbon Energy is taking part in a Queensland Government Interdepartmental Working Group that is reviewing overlapping tenure issues and working on ways for all parties to work cooperatively within their tenemants. The Group is yet to report and Carbon Energy feels that any comments on the outcomes are premature"

This doesnt actually say that CNX has tenemant issues but on the other hand why would they bother mentioning it if there wasnt some sort of conflict? Then again there has been no legal action taken as in the case of LNC ( which is minor as i believe it only applies to 1-2% of the land ) and i hae heard no mention of any other company having any claim over any CNX landholding. Sincere apologies if my post mislead anyone


----------



## Stykes (18 August 2008)

It is worth pointing out that CNY (who have informed the market that they *do not* have an overlapping tennaments) are also participating in the Queensland Government's intergovernmental working group on this issue, so CNX's participation in this same group should not be taken as a pointer to tennament issues.


----------



## mhar9655 (22 August 2008)

I think that CNX needs to release a report or statement to the shareholders to let them know what is happening.  LNC has been progressively releasing reports while CNX has remained very quiet.


----------



## alf_ber (29 August 2008)

what's up - CNX jumped last days from 0.3 to 0.5 A$ and nobody talks about  I don't think, the latest Announcements are the reason for.


----------



## awg (29 August 2008)

could be upmove is a correction of the viscous oversell, based partially, at least, on media reports re tenement conflicts.

seems these concerns have faded...LNC has moved up a bit as well

rising oil price would help sentiment re this stock

i traded it succesfully as MEE, but then got caught holding a parcel at 50c

not selling at 30c feels better now!

tony


----------



## springhill (29 August 2008)

awg said:


> could be upmove is a correction of the viscous oversell, based partially, at least, on media reports re tenement conflicts.
> 
> seems these concerns have faded...LNC has moved up a bit as well
> 
> ...




Agreed pretty straight forward with this one, just a correction of the overcorrection. Not alot to do with tenemant conflict tho, more with the Qld Govt "supposed" favouring of CSM over UGC. BS IMO, think they will both be let run free in time, too much money and royalties at stake here for governments to kill off either.
Heading back to what i consider fair value (mid 50s) IMO, thats not based on TA or FA as im not qualified to comment on either.... to me fair value is the point at which i would neither buy nor sell (Keep It Simple Stupid)


----------



## bluedylan (30 August 2008)

springhill said:


> Agreed pretty straight forward with this one, just a correction of the overcorrection. Not alot to do with tenemant conflict tho, more with the Qld Govt "supposed" favouring of CSM over UGC. BS IMO, think they will both be let run free in time, too much money and royalties at stake here for governments to kill off either.
> Heading back to what i consider fair value (mid 50s) IMO, thats not based on TA or FA as im not qualified to comment on either.... to me fair value is the point at which i would neither buy nor sell (Keep It Simple Stupid)




couldn't have summed up my thoughts better springhill.  Looking forward to the next couple of months with some more positive results from the trial.


----------



## loopy_louie (8 September 2008)

Great investor presentation released... 

Expect a good day today..... 

I disclose holdings


----------



## grace (10 September 2008)

For those who picked up that falling knife, it has been a good ride (I got it right for once).

Good day today, going through 55 and then 60cents was important I thought.  Chart looks bullish to me, but I'm no tech head.


----------



## catman (10 September 2008)

LOL Indeed it was one hell of a falling knife but was supremely confident CNX would come back after the Australian article sold a few dud stocks to get them, opportunity of the year really stating to pay off now and more to come once the trial is producing syngas.  

Holding 300k at an avg of 0.31.  Keep an eye out for a resource upgrade and new highs soon.


----------



## unit (10 September 2008)

Yep, good day today.
MMB of which CNX hold 10million shares, had a great announcement today.
from the announcement:
• Anglo American plc will acquire 13.47 million shares in Magma Metals at $0.60 per share for a total consideration of $8.08 million for a 12% interest in the Company (10% on a fully diluted basis).
• It is planned to issue the shares and complete settlement of this transaction within five business days.
• The funds will primarily be used to progress the Company’s advanced Thunder Bay North Platinum-Palladium-Copper-Nickel project in Canada.


----------



## Onethong (12 September 2008)

Hi ho we go high, MARKET DEPTH 
0.695  	0.080
13.008% 	2182993 	244 	0.665 	0.715 	0.615 	0.660 	NR 
 SO NICE TO BE GREEN ON A WINNER


----------



## springhill (12 September 2008)

Onethong said:


> Hi ho we go high, MARKET DEPTH
> 0.695  	0.080
> 13.008% 	2182993 	244 	0.665 	0.715 	0.615 	0.660 	NR
> SO NICE TO BE GREEN ON A WINNER




Hard to wipe the smile off my face with CNX today 
If it keeps going at this rate you may be able to splurge on a matching second thong mate!


----------



## Dink (12 September 2008)

Letter of intent with LyondellBassell. I will be honest and say that I have not heard of this company but with $16 Billion in assets worldwide it is obviously not small fry. It is reassuring to have another large company have faith in the technology. I hold and I am smiling... as I have been for quite some time.


----------



## unit (12 September 2008)

some info on LyondellBasell:

http://www.hoovers.com/lyondellbasell/--ID__106018--/free-co-profile.xhtml
"If it's a plastic world, then you can probably blame LyondellBasell Industries for it. The company is the world's largest producer of polypropylene and Europe's largest maker of polyethylene, the key ingredients that go into plastics of all kinds. Used in a variety of products, polypropylene is a highly versatile polymer, and polyethylene is the most-used polymer. LyondellBasell also makes advanced polyolefins and licenses its polymer technology. The company was formed in 2000 from the combination of the polyolefin businesses of Shell and BASF; it then grew exponentially with the 2007 acquisition of Lyondell. The company is owned by private investment firm Access Industries, which is owned by Len Blavatnik." 

December 20th '07- the merger between Basell Polyolefins and Lyondell Chemical Co was completed. This means that a new chemicals giant has been created - cleverly named LyondellBasell Industries! In terms of turn-over, the newly created company is the third largest company in its sector globally. To put it in perspective - LyondellBasell turn-over is larger than such household names as Disney and Canon

http://www.smartbrief.com/news/aaaa/companyData.jsp?companyId=16961

lots more articles on this page:
here's a few-

"IVECO Selects LyondellBasell's High-Performance Softell PP for its New Series of Eurocargo Trucks [Press Release] 
PRNewswire | 42 days 8 hours 53 minutes ago
ROTTERDAM, Netherlands, July 31 /PRNewswire/ -- LyondellBasell Industries' Softell polypropylene (PP) compound is being used to produce the door panels of Italian commercial utility vehicle producer IVECO's new Eurocargo truck model. "

"LyondellBasell Receives Toyota Quality Certificate [Press Release] 
PRNewswire | 84 days 3 hours 47 minutes ago
ROTTERDAM, Netherlands, June 19 /PRNewswire/ -- LyondellBasell Industries was the only plastics raw material supplier to receive the coveted Toyota Certificate of Recognition for Quality for 2007. The company was honored for outstanding achievements in product quality and supply consistency that it provided to Toyota facilities located in Europe." 

"LyondellBasell Aromatics Extraction License Granted to Linhuan Coking Company [Press Release] 
PRNewswire | 48 days 9 hours 53 minutes ago
ROTTERDAM, Netherlands, July 25 /PRNewswire/ -- Linhuan Coking Company has selected LyondellBasell's Aromatics Extraction process for a new 80 KT per year plant to be built at Huaibei, Anhui Province, China. Start up is scheduled for 2009. "

Enjoy!


----------



## Calliope (12 September 2008)

Yes, this has been a masterstroke for CNX and the market loved it, 8.7 million shares traded today and finished just off it's high.  

I think we are on the move.


----------



## springhill (13 September 2008)

Positive article in the West Australian today regarding CNX. More light shed on LyondellBassell, its reported they have an annual turnover of $46 billion aswell as reiterating their agreement with Incitec Pivot. If all goes well with the 100 day trial ( due to commence in October ) the plan is to establish the plan of an industrial hub around Carbons UGC tenemant. All the ducks are lining up, looks very positive


----------



## unit (13 September 2008)

from the West Australian:

CARBON IN LINE FOR METHANOL POWER DEAL
The stakes for Carbon energy's looming $20million trial of ucg technology has been raised after the group yesterday signed a landmark deal to power what could be one of the world's biggest methanol plants.

The company, headed by WA mining veteran Ian Walker, as teamed up wit Dutch plastics and fuel group LyondellBasell for a joint pre-feasibility study to look at building a methanol plant in Queensland.

The plant would be powered by Carbon's queensland coal tenemnets in the Surat Basin, using its underground coal gasification technology (UCG).

News of the deal sent shares in Carbon, formerly Metex Resources, up 18%, or 11/5cents to 73cents.

The scope of the dealechoes a May agreement with Incitec Pivot which gave the fertiliser giant both a 10.5% stake in the compnay and exclusive rights to the group's UCG technology relating to ammonia and ammonia-derived products.

But while the lucrative deals are potentially company making, the fate of Carbon's ambitious plans would appear to rest on 100 day UCG demo trial to start on October 1.

A further potential JV with Incitec to build an ammonia plant is linked to the outcome of the trial and, while work on the feasibility study with LyondellBasell will begin imminently, the trial results will be crucial to any final decision.

Although its proponents argue UCG, which uses oxygen at high pressure to break coal into its components, provides a lower cost source of energy, analysts still say it carries significant risk.

Carbon Chief Operating Officer Andrew Dash said the partnership with LyondellBasell reflected global acknowledgement of the potential of Carbon's UCG tecnology, which it considered to be world class.

"While we've been doing our technical trial we've been working on (establishing) these strategic partnerships." he said.

With annual revenues of close to $45billion, LyondellBasell is one of the world's biggest polymer, petrochemical and fuel companies.

Mr Dash said the company hoped to create a hub in regional Queensland to include a methanol plant and the ammonia plant it may build.

He said, while the cost and scale of the methanol plant would be considered under the feasibilty study, it was intended to be among the world's biggest.


----------



## loopy_louie (14 September 2008)

Hello Everyone,

This is a great step forward for carbon, with the trail burn set to start and now a world recognised company like this wanting to partner up is exceptional.

Now all we need is a written comfirmation by the queensland gov which will allow ucg and csm to work side by side around the same area...

WHEN ALL THIS EVAILS....... WATCHHHHHHHH OUTTTTTTTTT  

I PROUDLY DISCLOSE SUBSTANTIAL HOLDINGS


----------



## dale (14 September 2008)

hey guys,

i've been on the sidelines watching CNX for a fw months now and it looks like it has some interesting ideas a perhaps a bit of promise. i would like to know if anybody can point me in the direction to find what differentiates CNX from LNC's and WEC's technology.

It looks to me like it could be the next $3 or $4 alt energy stock so want to do a bit of extra research to see if its worth a shot.

cheers dale


----------



## Shrewd Crude (14 September 2008)

Hum... ive been reading abit about UCG and this process looks very interesting (and surely lucurative)...
But as Of now, I still do not fully understand the risks, and I know there are plently... Carbon energy could well be the next big thing coming up through the cracks...
Im all really excited for you lot so far...
...
Think I will just stay with csg at this stage...

.^sc


----------



## Hatchy (18 September 2008)

The latest report, available at carbonenergy.com.au goes a bit further to explain how CNX's technology differs from the opposition. I think that it's more of a protocol difference and possibly different technology behind keeping the burn going. 

It's a good report and worth a read, can't see us getting to the target price for some time now. 

Anyone know what happened to the Uranium and Gold reserves Metex had? Does cnx hold them still? 

Surely that would boost the price is the current gold climate.


----------



## Calliope (20 September 2008)

Everything about CNX looks positive except the share price. A consistent pattern seems to to be for the price to rise significantly during the day, only to lose it all towards the close. The day traders cashing in I suppose.

Have you seen this report? It's a couple of weeks old, but positive;

www.carbonenergy.com.au/documents/ASX170908_1.pdf


----------



## Fibbs (26 September 2008)

Intresting that july was the last post on this stock, considering the run it has had and now only days away from the Pilot burn tests..


----------



## Mickel (26 September 2008)

Fibbs said:


> Intresting that july was the last post on this stock, considering the run it has had and now only days away from the Pilot burn tests..




The last post on this stock was on 20 Sept not July. Perhaps you looked at the stock under its previous name- Metex.  If so, you didn't read the last comment there by Admin (Joe Blow) in July who advised the thread was then closed as company is now known as Carbon Energy.

Good rise of 5.5c today to finish at $0.595

Disclosure- I hold CNX shares


----------



## ncf1 (28 September 2008)

To be honest I find it a bit baffling as to why this stock isnt talked about a bit more, and not just here but other places as well. I have had a number of stocks over the past months and none of them have/had as much potential as CNX, and they all did better than CNX at similar stages (as in performing due to potential). In my opinion this stock should be close to $1 and not lingering around 50c. I think that in any other timeframe it would be worth a lot more already.

That said, things should be justified shortly. One more piece of good news and this should skyrocket.


----------



## rosst400 (29 September 2008)

Hi, 
There is a lot of discussion going on over at the HotCopper forums under stock code CNX. http://ww.hotcopper.com.au/


----------



## Out Too Soon (1 October 2008)

Well this certainly is a volatile little swinger lately I like it looks like it has a great future & at present is totally ignoring the rest of the market, I like it even more


----------



## unit (3 October 2008)

announcement out today,
gas flaring expected next week:

"Carbon Energy Limited (ASX:CNX) advises that it has successfully completed construction of all major above ground facilities and infrastructure for the commercial scale oxygen-injected Underground Coal Gasification (UCG) trial at its Bloodwood Creek site, near Kogan in South East Queensland.
De-watering and pressurisation of the ignition well has been completed and commissioning with respect to syngas production is continuing with gasification anticipated to commence during next week. The trial remains on schedule and under budget.
Carbon Energy Chief Operating Officer Andrew Dash said the trial will be the first of its type in the world to demonstrate, on a commercial scale, the Company’s oxygen-injection UCG process for the production of syngas."


----------



## Out Too Soon (6 October 2008)

nice wedge formation with a gap down not yet covered, looks positive or am I putting to much faith in gaps being covered?


----------



## loopy_louie (8 October 2008)

The ann that everyone was waiting for commencement of the trail burn.....

just came out tonight at 8 pm ( 1 hour ago)

THANK GOD......... 

ENJOY READING

http://www.asx.com.au/asxpdf/20081008/pdf/31cslhycdff93c.pdf

This has made my night...... 

Watch this one tommorrow...............


----------



## Mickel (9 October 2008)

loopy_louie said:


> The ann that everyone was waiting for commencement of the trail burn.....
> 
> just came out tonight at 8 pm ( 1 hour ago)
> 
> ...




Welcome good news, for sure. Lets hope the market has a positive day, which should enhance CNX's rise.


----------



## basilio (9 October 2008)

Yep, nice announcement  on the successful production of syngas. And under budget and under time I think.

But wouldn't it be useful if CNX spelt out more clearly the economic value of this success i.e. how much product will be available, when, the approximate value and estimated earnings per share? It may not move a totally blind and hysterical market but at some stage analysts who monitor production of *essential *energy based products will take notice. 

After all that is the basis of Linc's strategy.


----------



## Hatchy (9 October 2008)

I think whilst the announcement is positive, it doesn't state much. 
Sure we have production going on - but not yet able to meet commercial requirements - that's to come later on. 

I do hold this stock and have high hopes - but aren't jumping the gun.


----------



## Calliope (9 October 2008)

When the panic is on, positive news that might have given the stock a kick along a few weeks ago, goes over like a lead balloon. After all while the All Ords dropped 5% yesterday, CNX dropped 16%. CXY dropped 16%.

LNC, which put out a very positive ann on Monday also dropped 16% yesterday. When it comes to losing, our stocks can beat the market three times over. Nearly all those getting out are small holders and in their panic to unload they are depressing the market


----------



## baja (9 October 2008)

Yep, its killing me. Do people think its really that bad that they are prepared to take a big loss, rather than losing the entire lot which is what they think will happen? I must admit I came close to pulling out everything this morning, but its too late now. holding....probably like an out numbered soldier bleeding profusely....sniff.....


Investors need to harden the *&^! up.

Language *warning.*

http://www.youtube.com/watch?v=unkIVvjZc9Y


----------



## Mickel (9 October 2008)

basilio said:


> Yep, nice announcement  on the successful production of syngas. And under budget and under time I think.
> 
> But wouldn't it be useful if CNX spelt out more clearly the economic value of this success i.e. how much product will be available, when, the approximate value and estimated earnings per share? It may not move a totally blind and hysterical market but at some stage analysts who monitor production of *essential *energy based products will take notice.
> 
> After all that is the basis of Linc's strategy.




I spoke to Andrew Dash (COO) at a Gold Coast seminar on 29/30 Sept. While the demonstration trial hopes to prove a commercial flow of gas (1pj per annum) none of the gas produced during the trial will be sold. It will provide the basis for a feasibility study for a methanol plant for fertiliser and explosive manufacture. This, of course, will show the economic value of the operation and will also be important for further fund raising.

He also indicated that there would be more announcements in the lead up to the feasibility study and they could look at other income stream opportunities in the short term.

So, Basilio, you will probably have to wait until after the 100 day trial for answers to those questions.

I disclose holdings.


----------



## Mickel (13 October 2008)

Market currently up around 2% to 4153 and CNX up 17% to 0.345.

Good recovery by CNX ! Will it continue ? I think it will.


----------



## Mickel (13 October 2008)

Mickel said:


> Market currently up around 2% to 4153 and CNX up 17% to 0.345.
> 
> Good recovery by CNX ! Will it continue ? I think it will.




Got my maths wrong there.  ASX  ALL ORDS at 4153 was up 5%.

ASX 200 currently up 4.1% at 4124 and CNX up 10% at 0.325.


----------



## mexican (13 October 2008)

Mickel said:


> Market currently up around 2% to 4153 and CNX up 17% to 0.345.
> 
> Good recovery by CNX ! Will it continue ? I think it will.




I think CNX will get another boost tomorrow with LNC's announcement. Got in today to make a quick buck, bargain IMO.


----------



## ca1987 (13 October 2008)

That is IF the announcement is a positive one. It will very much go the other way IF it is a negative one.

Too late now anyway. Market has closed ^_^.

Not facts, just opinion. Do your own research.


----------



## Mickel (13 October 2008)

mexican said:


> I think CNX will get another boost tomorrow with LNC's announcement. Got in today to make a quick buck, bargain IMO.




I agree with you Mexican.

 CNX finished up 5.5c to $0.35 today which is an increase of 18.64% while the ALL ORDS was up 5.1% and S&P/ASX 200 was up 5.6%. 

Although it may not increase another 18% in a day.


----------



## Mickel (14 October 2008)

CNX annual report out. Quite a bit of new information.Great time to release it with the market set for another good day on the back of the Dow Jones rise of 900+ points. CNX currently up .07 to 0.42 which is 20%. Hope it continues.


----------



## andrew08 (5 November 2008)

Carbon Energy Limited (ASX:CNX) today generated the first commercial scale production volumes of underground coal gasification (UCG) syngas from its UCG plant at Bloodwood Creek, Queensland, and commenced a 100-day, A$20 million trial to demonstrate the sustainability of its commercial scale UCG syngas production. 

Carbon Energy’s Chief Operating Officer Andrew Dash said the achievement represented another significant milestone in the company’s UCG syngas commercialisation program developed in conjunction with the CSIRO.

Results from the trial will be used as part of feasibility studies to be undertaken with Incitec Pivot Limited to confirm the suitability of Carbon Energy’s UCG syngas for ammonia production. The trial will be also used to study the syngas’ suitability for methanol production as outlined in the company’s recently signed Letter of Intent with LyondellBasell.

“With gas being produced at commercial volumes we have successfully demonstrated Carbon Energy’s ability to realise the value of its substantial coal tenements,” Mr Dash said. “During the 100 day trial, Carbon Energy will optimise quantity and quality, and minimise the cost of gas produced through controlled variation in the feed of air, oxygen, and steam.”

Commercial scale production was achieved by switching product gas flow from the vertical ignition well to the horizontal in-seam product well and ramping up the airflow to achieve maximum gasification rates possible with air. This air blown gasification test represents the optimum gas for production of low cost electricity.

The next step in Carbon Energy’s trial period is to use a mixture of oxygen and steam in the injection well which will demonstrate the maximum energy production rate of the panel design and the optimum syngas feedstock for ammonia, methanol and chemicals manufacture.

It is the use of oxygen and steam in the gasification process together with Carbon Energy’s unique panel design developed by the CSIRO that differentiates the company from other UCG projects currently being undertaken in Australia. It is this process and the resultant ability to economically remove CO2 from the UCG Syngas that puts Carbon Energy in the lead as a provider of clean energy and chemicals from coal.
Syngas from the 1 Petajoule (PJ) UCG panel is currently being flared.






IPL also made an announcement to the same effect.  

Lets see if this brings in the interest the company deserves after LNC have been getting all the UCG news of late.


----------



## Miner (6 November 2008)

andrew08 said:


> Carbon Energy Limited (ASX:CNX) today generated the first commercial scale production volumes of underground coal gasification (UCG) syngas from its UCG plant at Bloodwood Creek, Queensland, and commenced a 100-day, A$20 million trial to demonstrate the sustainability of its commercial scale UCG syngas production.
> 
> Carbon Energy’s Chief Operating Officer Andrew Dash said the achievement represented another significant milestone in the company’s UCG syngas commercialisation program developed in conjunction with the CSIRO.
> 
> ...




Nice posting Andrew08 and thanks

Considering the code of conduct of this forum I was intrigued to see few coincidences and please correct if my observation was incorrect.

Looks like you have posted the attached information at ASF site at about 7.17 AM today

ASX published the similar information through CNX communication for public at about 8.27  AM today

I am enlisted in CNX website to receive any fresh news item and I got an email at about 9.30 AM. 

Your communication receiving skills are faster than Reuter 

What else do you know and share with us which ASX yet to know 

Jokes apart thanks a lot for sharing the info.


----------



## dandyjac (14 November 2008)

Great video from CNX explaining the process of how they make syngas it's around 79 mb to download, well worth a look  


http://www.metex.com.au/documents/ASX131108.pdf


----------



## basilio (21 November 2008)

Nice video/slide presentation from the AGM currently available. Looks as if there will be some dollars coming from the links with INCITEC and the methanol company....


----------



## basilio (27 November 2008)

CNX has dropped 11% (3 cents ) on high turnover today in a rising market.
We assume the test production program is going well. There are at least a couple of big commercialization opportunities awaiting. 

Any further ideas on why the continued weakness?:


----------



## Calliope (27 November 2008)

basilio said:


> CNX has dropped 11% (3 cents ) on high turnover today in a rising market.
> We assume the test production program is going well. There are at least a couple of big commercialization opportunities awaiting.
> 
> Any further ideas on why the continued weakness?:




There is the overhanging concern that the big CSG companies will squeeze them out like they did Linc. Unlike Linc they have no Plan B


----------



## basilio (27 November 2008)

> There is the overhanging concern that the big CSG companies will squeeze them out like they did Linc. Unlike Linc they have no Plan B




Ouch...! That does make sense thinking about the current politics in Queensland.

I suppose the hope is that the tie in with INCITEC and the production of ammonia based fertilizers will be enough of an incentive for a commercial project to be supported by a party with a rural component.

Another thought is that with LINC abruptly moving away there will be a rethink in the Queensland cabinet. In the current economic climate it is not a good look to needlessly piss off quality investment.

Last consideration. CSIRO is a major shareholder and has seemingly proved the technology both commercially and environmentally over the past decade. Perhaps they need to step up  and be a quality supporter of this project and spell out what it can achieve.

But I can understand your initial comment on the pressure on GTL plants


----------



## andrew08 (28 November 2008)

CXY has been well up from its lows last week while CNX continued its fall today. 
If tenement rights were the issue i would have expected CXY to suffer also. Is anyone aware if it doesnt have any overlaps and CNX does?


----------



## james99 (28 November 2008)

Great accouncement: Back to its 5 Nov of 42.5 I reckon 

Carbon Energy (ASX:CNX) has entered the fourth week of its 100 day commercial scale
Underground Coal Gasification (UCG) trial at Bloodwood Creek in the Surat Basin and is pleased
to announce that all requisite performance benchmarks are being met. The trial at Bloodwood
Creek is attracting national and international attention with business and government delegations
representing interest from India, Japan and Europe visiting the site within the past two weeks.
“CNX is in the final stages of an air trial and this has confirmed that the site can produce syngas
suitable for power generation. The next stage will move onto a steam trial and, after which, a
combination of oxygen and steam will be used to produce a hydrogen-rich syngas suitable for use
as a high value chemical feedstock. The transition to oxygen and steam is expected to occur as
early as next week.”
The A$20 million UCG syngas trial, which is being undertaken at Bloodwood Creek, near Dalby in
the Surat Basin, is designed to demonstrate the sustainability and consistency of its commercial
scale UCG syngas production before moving to development of one or more potential commercial
scale production options.
The trial is being undertaken on granted MDL374 and is not dependent on any decision by the
Queensland Government in relation to the issue of overlapping tenements. “There has been a
great deal of discussion in the press recently, initiated by some aggressive lobbying by
international giant British Gas, that UCG will be locked out of the Queensland market in order to
accede to demands by CSG players for so-called certainty.” said Mr Andrew Dash, Chief
Operating Officer at CNX.
In recent weeks, the Queensland Government has reiterated its stance that it does not plan to
“pick winners” in regards to the Coal Seam Gas (CSG) and UCG industries. Mines and Energy
Minister Geoff Wilson has been quoted as saying: “We want to develop a policy position that is in
the best interests of all stakeholders.”
Page 2
Carbon Energy’s intention, once the current UCG trial is successfully completed is to pursue the
feasibility of constructing, in partnership with existing business partners, a $1 billion ammonia
plant and a separate $1 - 2 billion manufacturing facility near the Surat Basin site. These
developments would be in addition to the LNG plans as proposed by the major gas companies.
“The Queensland Government is very aware of the significant potential these developments bring
to communities in rural Queensland and the importance of UCG in making these projects happen”
said Mr Dash.
“Our focus to date has been on ensuring that Queensland business and consumers are in a
position to take advantage of the lower priced more environmentally friendly energy products that
our technology can offer. However, as an organisation, we also have a clear national and
international commercialisation strategy that we will continue to pursue and execute.”


----------



## Mickel (2 January 2009)

CNX up 4c today after 4c rise on 31/12 .Current S/P 33.5c

Announcement on 24/12 advised a uranium find in WA and today's ann is that Andrew Dash is now CEO & MD as planned last year and head office moved from Perth to Brisbane.

Perhaps the S/P rise is part eoy index fund adjustment and delayed response to the uranium find.

I am a long term holder and tipped CNX in the yearly comp. so long may the rise continue.

Happy New Year to all !! May it be a profitable one.


----------



## basilio (14 January 2009)

I don't get it.. CNX only seems to provide good news and in fact beats expectations. The trials are going better than anticipated, they make an incidental uranium discovery, they have probably one and possibly a second major industrial plant lined up for 2009... and yet they still fall back.

I believe the CTG/GTL technology is a game breaker in the fossil fuel energy world. But CNX is still way below any reasonable valuation.

Again,  any other thoughts?


----------



## Big_Daz (14 January 2009)

I guess cashflow is a big concern for this company.

The first 1/4 of 2008 saw it burn through over $8.2m of cash leaving it just over $17m. With a shortage of cash flow, they are goingto have to either go to market (which will be very hard) or go to its bankers. If it goes to the bankers then that obviously increases there debt and with debt in this market the share price is going to suffer.

This is my thoughts on the company...any others out there?


----------



## Dink (21 January 2009)

I find it difficult to understand why not a single person commented on the last couple of days. Up 15% two days ago. Great announcement yesterday and held that 15% and remained up on a day when most stocks were taking a battering. A shining light in what is an otherwise fairly grim portfolio for me at the moment.


----------



## basilio (21 January 2009)

It's great that CNX has held. But frankly given what seems to be very positive news I am disappointed there hasn't been  a decent *and held* rise in SP.

This is still a very lowly capitilised company with what seems to be valuable and proven technology and on the brink of profitable commercialization. But you certainly wouldn't get that idea from its price. 

But lets see what pans out.

 _____________________________________________

To be fair it has risen from the lows of 22c just before Christmas. I suppose I am reflecting on the prices of 5 months ago which were before the successful trial.


----------



## basilio (21 January 2009)

And then suddenly CNX  just *JUMPS*  12% in a couple of hours.

Who has been listening. Or maybe there are stirrings afoot.


----------



## Mickel (22 January 2009)

As a holder of CNX I agree that it's great to see the S/P rising.

However, as yet we haven't seen any financials for how profitable gas for power generation or chemical feedstock will be. Also, we don't know what further equity  (if any) CNX will need to contribute for any joint ventures.

On the other hand, having Incitec Pivot as a 11% shareholder and a research agreement with a large international coy (Lyondellbasell) into methanol production suggests chemicals and explosives production could be very profitable. Also their valuable uranium assets could be sold to provide equity for any joint venture.

In my view we won't know much about profitability of any venture until after the completion of the 100 day UCG trial.


----------



## james99 (22 January 2009)

Mickel

I have not posted for some time and agree that we will not know much about profitability until after the completion of the trial, and even then there will likely be significant delay whilst analysis and full commercial feasibility studies are being undergone. However, we do know that:

1. thus far, its technology has delivered in a manner consistent with its projections;
2. its technology can produce commercial products / by products (albeit efficiency is not known yet);
3. it is cleaner and more efficient than several alternatives (again, albeit we do not yet know whether it is sufficiently efficient to be commercially highly successful);
4. it has other strings to its bow (uranium and gold) and in respect of which there may be a spilt;
5. its managament, thus far, has made projections and time frames in a sufficiently conservative manner such that they have usually been able to be met, in contrast to some other small caps;
6. it has a good cornestone shareholder;
7. it has established relations with interested parties in other countries that may lead to uptake;
8. unlike many small caps, and despite its current price only being .355 against a 12 month high of .93, it has still managed to make and hold good gains over the last 18 mths or so. When I first posted (in about April 2007) it was about .09.
9. there is substantial global demand for energy and many coal reserves. I have, eg, just come back South East Asia where there are substantial shortages of energy. We are, I think, only seeing the tip of the demand iceberg insofar as memoranda of understandings etc are being entered into. 

Several third world countries are taking a 5 - 15 year view of the need to meet power demand, and seem not much deterred by the current recession.

In summary, I think there is much to be positive about with CNX and that it is one of the alternative energy / by product companies that has a real chance of commercial success and the re-rating that goes with that, even in tough times.

All of this has been said before by many others, but is is helpful (for me anyway) to revisit it from time to time.
(PS: I disclose holdings  )


----------



## james99 (22 January 2009)

I should add, that in the first week of the oxygen gas trial 800 tonnes gassified with 16,000 gj of gas energy produced. Sino Ore is reported as paying US$7.80 gj for gas when oil is at US$50 (see link: 
http://www.theaustralian.news.com.au/business/story/0,,24885298-5018015,00.html), so if we take that as a rough and ready guide the value of the energy produced in the first week from one module is about US$124,000.


----------



## james99 (23 January 2009)

COAL RESOURCES UPGRADE: NEW ANNOUNCMENT

Increase from 100 mt to 269 mt, much of which is optimal for gassifaction. See announcement online. 

Fantastic. But I suspect on a day when the DOW is down, all it will do is hold the price, rather than increasing it...


----------



## Dezza (30 January 2009)

2 weeks left of the trial left...time goes by fast. So does the SP. 
Hopefully the trial results will be thumbs up for full production.


----------



## james99 (3 February 2009)

Trial completed successfully! Hopefully we are now in buisness ...

Carbon Energy (ASX:CNX) announced today that it has completed the 100 day Underground Coal Gasification (UCG) trial at its Bloodwood Creek site, near Dalby in South East Queensland. Carbon Energy has clearly demonstrated that its UCG module can deliver commercial scale syngas production of 1 peta joule (PJ) per annum of syngas, with the following key outcomes:
• Demonstration of sustained production of air injected syngas suitable for low cost generation of power (achieved in November 2008);
• Demonstration of production of high value oxygen injected syngas suitable for the production of low emission electricity, chemicals and liquid fuels;
• The conversion of unmineable coal in-situ to gas energy at an average rate of 20PJ per million tonnes in the Surat basin;
• Validation of Carbon Energy’s proprietary design and economic models which can be applied to any suitable coal seam anywhere in the world; and
• Consistently achieving, and exceeding, target energy content and flow rates.
Carbon Energy’s Managing Director Andrew Dash said the Company will be completing its analysis of the data obtained during the trial phase prior to providing the results to its two main commercial partners; Incitec Pivot and LyondellBasell, for their assessment. It is anticipated that once approved, further pre-feasibility studies will then be undertaken to confirm syngas’s suitability for power generation, ammonia manufacture and methanol production. In the meantime, the UCG syngas reactor at Bloodwood Creek will continue to operate on air injection, with ongoing monitoring and verification of results, while plans for commercialization are initiated.
For and on behalf of the Board
Andrew Dash
Managing Director


----------



## Dezza (3 February 2009)

Wow, my 2 weeks went by like it was only 1 week. 

Good news indeed. Pretty much went off without a hitch, and now time to start working on full commercialisation so they can start counting their cash. 

What are the chances of a cap raise to get things started?


----------



## Mickel (19 February 2009)

ASX Ann today-

"19th February 2009 ASX Announcement ASX: CNX Government Policy Delivers Certainty of Tenure for CNX 

The Queensland Government yesterday announced a new policy in relation to overlapping tenements between Underground Coal Gasification (UCG) and Coal Seam Gas (CSG) producers that clarifies the issue of priority access to resources and provides a clear pathway for all parties to move to production. 

The key outcome for Carbon Energy is that the policy provides priority and certainty of tenure for Carbon Energy for the resource contained within its existing Mineral Development Licence area (MDL 374). 
Andrew Dash, Carbon Energy’s Managing Director commented on the recent policy decision by saying “This policy ends months of speculation as to the competing rights between UCG and CSG players. For Carbon Energy this means that we have exclusive rights to at least 224 million tonnes of coal (approximately 75% of our recently announced resource upgrade) contained within our MDL which is suitable for UCG.
 Based on our recent trial results, which demonstrated we produce 20 GJ for each tonne of coal gasified, we have at least 4,480 PJ of energy in situ. We believe that by applying our world leading UCG syngas technology and panel design that in excess of 2,500 PJ of UCG syngas is recoverable.
 This is a huge resource in gas industry terms and can support more than 6 world scale manufacturing plants for over 30 years. In addition, the northern half of our MDL is relatively unexplored and is prospective for coal suitable for UCG; consequently further exploration in this area is likely to add substantially to our resource availability in the future.
 This policy decision will now enable us to execute our plans for the development of this resource with full confidence”. 
The announcement also outlined the requirement that each UCG syngas trial project be subject to monitoring conditions, including meeting stringent environmental standards, by the EPA (Environmental Protection Agency). “Such requirements exist now and as such were not unexpected. Indeed, we welcome the Government’s commitment to continued environmental monitoring as this goes to the heart of our process and is one of the key benefits our technology” said Mr Dash.

Carbon Energy believes it is prudent to follow appropriate review processes for all major projects, including UCG syngas projects. Carbon Energy’s technology and process is the result of rigorous scientific development by Australia’s premier research organisation over 10 years, the CSIRO, and Carbon Energy welcomes any appropriate review of its world leading technology."

I haven't been able to find this new policy statement as yet. It will also have implications for other UCG and CSG companies especially LNC. 
Has anyone seen this new policy statement?

CNX currently up 3c to 30c and LNC up 4.5c to $1.245


----------



## basilio (19 February 2009)

Good news for CNX and LNC.

Question in my mind is the lack of market support for either company. Both are providing  critical, basic  energy necessities with proven  technologies that turn stranded low grade coal  into valuable commodities at a reasonable price.

And the shares still look like sxxx ! 

I suppose this just means they are great buying opportunities at the moment...


----------



## Mickel (19 February 2009)

basilio said:


> Good news for CNX and LNC.
> 
> Question in my mind is the lack of market support for either company. Both are providing  critical, basic  energy necessities with proven  technologies that turn stranded low grade coal  into valuable commodities at a reasonable price.
> 
> ...




Agree 100%, Basilio. We just have to nerves of steel to withstand any negative news and PATIENCE.

 I hold both CNX and LNC.


----------



## fitz007 (25 February 2009)

second that notion haha 

im very surprised we havent seen a more sustained rise in SP.

despite the global meltdown, the company on paper looks the goods.

ah well ..  .. cont to hold onto CNX with great hope.


----------



## basilio (6 March 2009)

> WA approves coal gas-to-urea initiative
> March 6, 2009 - 1:34PM
> 
> Private fertiliser company Perdaman Chemicals and Fertiliser aims to commence exports from its $3.5 billion coal gas-to-urea project in Western Australia around mid-2013.
> ...





Noticed in the paper that a private company is developing a Coal gas to urea plant in WA. Sounds very much like the CNX/IPL initiative. I wonder if this would have an effect on the joint venture proposal ?

http://news.theage.com.au/breaking-...-coal-gastourea-initiative-20090306-8qlf.html


----------



## Mickel (19 March 2009)

Great announc from CNX today. Increase in reserves of 125% from 296.9mt to 668mt.

S/P increased 16% (4c) to $0.285 .


Disc- I hold stock


----------



## basilio (20 March 2009)

It is great that the coal reserves have jumped.  But all the reserves in the world mean little if there isn't a profitable contract to develop them.

Also hold,  also waiting....


----------



## ColB (25 March 2009)

> Originally posted by *Basilio*
> 
> "It is great that the coal reserves have jumped. But all the reserves in the world mean little if there isn't a *profitable contract* to develop them.




Up 20% today Bas!!  Your post on the 19th February was right.

That contract will be on the way soooooon

[I hold]


----------



## basilio (25 March 2009)

So what was the trigger for the 3.30 rush today? CNX is just ambling along doing nothing. And this is after what was a really very positive report from the day before. Great reserves, better than anticipated  gas flow and I thought some very telling statements about just how much potential gas  there was available 


> 50% of Queenslands electricity demand for 15 years  or
> All of Brisbane's  natural gas demand for 60 years !
> 
> And this is just from the coal seams thicker than 5 metres.




And then bang. Six million shares moved and  a 27% jump in SP 
Perhaps it says that market analysts take at least one and half trading days to actually digest significant announcements.

Or is that a big contract in your pocket...

Glad to see some green at last..


----------



## Mickel (26 March 2009)

I agree that it's good to see some green at last, Bas. 

The trick may have been expressing the energy in PJs and what they could power, so investors can compare with the Coal Seam Companies which are rising like wildfire.

I hold.


----------



## Mickel (30 March 2009)

Another almost 10% jump in S/P of 4c to $0.45 on turnover of 7.6m shares today.

More recognition of the value of the gas they are producing ? I think so.

I hold.


----------



## phong_01 (31 March 2009)

Not sure if they are speculating on IPL obtaining the loan facility for working capital.  IPL may use this to acquire CNX?


----------



## Mickel (1 April 2009)

ASX Announcement this morning-

HOA to purchase Coal tenements in WA and to produce and sell Gas commencing Dec 2010.

Ref  http://www.asx.com.au/asxpdf/20090401/pdf/31gvy02703m0v1.pdf

Obviously some knew this was in the wings yesterday with 6 m shares traded and 10% + price increase.

CNX currently up 3c to $0.53 with sales of 3.3m shares after reaching high of $0.55.

I hold.


----------



## basilio (1 April 2009)

Good to see both some commercial activity with CNX and a due reflection on the SP.

I would be interested to know what sort of financial result CNX could expect from the proposed  WA project.  Obviously a bit early to say but you can only ask.

I believe tt also a good sign that this WA project is (seemingly) out of left field. Until know I believed there were  2 possible developments - IPL fertiliser and the European chemical plant. So this is a welcome development. Anyone else have any thoughts?


----------



## basilio (1 April 2009)

Good to see both some commercial activity with CNX and a due reflection on the SP.

I would be interested to know what sort of financial result CNX could expect from the proposed  WA project.  Obviously a bit early to say but you can only ask.

I believe it also a good sign that this WA project is (seemingly) out of left field. Until know I believed there were  2 possible developments - IPL fertiliser and the European chemical plant. So this is a welcome development. Anyone else have any thoughts?


----------



## grace (1 April 2009)

basilio said:


> Good to see both some commercial activity with CNX and a due reflection on the SP.
> 
> I would be interested to know what sort of financial result CNX could expect from the proposed  WA project.  Obviously a bit early to say but you can only ask.
> 
> I believe tt also a good sign that this WA project is (seemingly) out of left field. Until know I believed there were  2 possible developments - IPL fertiliser and the European chemical plant. So this is a welcome development. Anyone else have any thoughts?




wow, I wish I owned the other company involved....last time I looked today it was up over 100% (was it gpp (enb thanks to edit mode) or something, can't remember exactly, it was on my watchlist).  I remember researching the WA coal seams, and they are indeed fairly deep I thought.  I bit suspect for csg, but for a different process, might be alright.  I might do some more digging now.


----------



## Mickel (2 April 2009)

grace said:


> wow, I wish I owned the other company involved....last time I looked today it was up over 100% (was it gpp (enb thanks to edit mode) or something, can't remember exactly, it was on my watchlist).  I remember researching the WA coal seams, and they are indeed fairly deep I thought.  I bit suspect for csg, but for a different process, might be alright.  I might do some more digging now.




Grace, CNX has also done ok in March with a rise of over 100% as per this chart-

http://hfgapps.hubb.com/asxtools/im...&ds=cnx&dovs=XJO&val=1&stmp=20090402004241956

In the ENB Half Yearly Report in 2/09, under directors report, they stated their coal tenements were suitable for UCG and they were talking to various experts about UCG.

Of course in the latest announcement, under the HOA, CNX will acquire these tenements for 30M CNX shares.

The question for CNX , as I see it, is how they will fund the drilling of these tenements and the subsequent production costs for the gas. Will it be a rights issue or, in these tight funding times, an institutional placement ?

Any comments ?

I hold.


----------



## TheAbyss (22 April 2009)

Looking at CNX you would have to ask the question, why the reticence in expressing what they have?

Last month’s announcement re the Bloodwood commercial trial (68% methane and ethane) was fantastic. Forget the CTG technology for a minute and look at the potential resource value.

CNX estimate 2890 petajoules of methane/ethane based on 364 million tonnes of coal in seams equal to, or more than 5 metres thick according to their own data from the trial. If the rest of the coal reserves are included (668m tonnes) CNX have around 5,303 petajoules. This compares with an upper estimate of 259 petajoules from AOE.

Yes, CNX can produce 11 to 50 times more methane/ethane than Arrow can. 
CNX share price 40 cents v AOE circa $3 and I know what I am buying these days.

Surely CNX will become a takeover target at some stage on the reserves alone. Add to that the UCG technology and a possible coal asset sale and this could do us all some good. imo.

CNX have the equivalent feedstock for running 6 world scale manufacturing plants for 30 years.


----------



## springhill (30 April 2009)

Interesting movement in a couple of UGC players today

CNX up 11.4% on 5.9m volume
CXY up 15.4% on 9.5m volume (cant remember the last time CXY had this volume moved)

No important announcements due out from memory
Any thoughts?


----------



## Mickel (30 April 2009)

springhill said:


> Interesting movement in a couple of UGC players today
> 
> CNX up 11.4% on 5.9m volume
> CXY up 15.4% on 9.5m volume (cant remember the last time CXY had this volume moved)
> ...




Springhill, I think with the rise of LNC over the last 4-6 weeks from $1 to $2.50, and the comparative details that both LNC and CNX  have released with 3P reserves of CSG companies, have educated the market as to the relative value of the UCG companies. Also, the quarterly reports released today have emphasized this.

I hold LNC and CNX.


----------



## springhill (1 May 2009)

Mickel said:


> Springhill, I think with the rise of LNC over the last 4-6 weeks from $1 to $2.50, and the comparative details that both LNC and CNX  have released with 3P reserves of CSG companies, have educated the market as to the relative value of the UCG companies. Also, the quarterly reports released today have emphasized this.
> 
> I hold LNC and CNX.




Thats a strong possibility Mickel, but its the unusual volume of CXY thats pricked my ears. They are nowhere near (and have never mentioned) any ballpark PJ figure for their project
Was their discussions at the COAG about this industry? The Fed & the Qld state govt have slighty different opinions on UGC

Just thinking out loud
Todays performance will tell the story


----------



## Mickel (1 May 2009)

Springhill, an extract from CXY's ann on 20 Apr-

"While it would be unrealistic to expect all of the coal within the Designated Areas to be
amenable to the UCG process, the size of the areas, the vast coal resource contained within
them, and the evidence from existing drill data, all suggest that there will be an ample coal
resource to meet the requirements of a very large, long-term UCG project. Even if only 10%
of the Designated Areas proves to be suitable for the UCG process, the target coal resource
for a drilling program would be of the order of one billion tonnes with a potential gas
production energy content of about *five thousand Petajoules*, or sufficient energy to supply a
1000MW power station for 100 years.

It may have taken a few days for this to have sunk in. My opinion only.


----------



## Mickel (1 May 2009)

Further to my last post, some caution is required as the potential coal resource of over a billion tons is not owned by CXY but their JV partner.


----------



## johannlo (1 May 2009)

I am liking it very much, though my natural instincts recoil at buying at a high. Also I think gas prices are high at present 

Nevertheless if the statistics are correct then they have so much potential. Unfortunately I don't know enough about the industry to crunch figures like some of the above posters but they make enough sense to a newbie like me. Just on fundamentals alone they have 137.8m total assets with only 1.1m liabilities and burning 2.4m last FY, looks incredibly healthy to me. The CSIRO stake + partnership with IPL (which I hold) is also big swing factor in my book. 

Am thinking to watch it for a while and jump in the next small dip OR get in on the act if it gains substantially and holds for a sustained period.


----------



## Smurf1976 (1 May 2009)

Mickel said:


> *five thousand Petajoules*



Putting this figure in perspective...

Enough gas to supply the entire natural gas use of NSW, ACT, Vic and SA (combined) for a bit over a decade.

Or enough gas to supply Victoria only for over two decades.

Tasmania uses about over 115 PJ each year in total energy from all sources (hydro, oil, coal, gas, wood, wind) and for all purposes (electricity, transport, industry etc) combined.

So 5000 PJ is no Middle East that's for sure, but it's certainly a significant resource. At typical Eastern states gas prices it's worth in the order of $15 billion, considerably higher at major market international prices.


----------



## Smurf1976 (1 May 2009)

james99 said:


> I should add, that in the first week of the oxygen gas trial 800 tonnes gassified with 16,000 gj of gas energy produced. Sino Ore is reported as paying US$7.80 gj for gas when oil is at US$50 (see link:
> http://www.theaustralian.news.com.au/business/story/0,,24885298-5018015,00.html), so if we take that as a rough and ready guide the value of the energy produced in the first week from one module is about US$124,000.



Gas prices vary a lot depending on location. The underlying trend is towards globalisation of the market and an international price similar to what we have now with oil. But at present, gas in the Eastern states is worth a lot less than that and it varies a lot internationally - there's still places where it's basically worthless.

I'd also note that the process is about 70% efficient at recovering energy from the coal in the ground. That's better than the losses associated with conventional mining in a lot of cases.

A few figures for reference:

Depending on the grade of oil, there's around 6.3 GJ per barrel (it does vary a bit with oil types however).

Black coal is generally 22 - 30 GJ per tonne, most commonly somewhere around 28 GJ. There are some exceptions outside this range.

Brown coal is typically 10 - 15 GJ per tonne as taken from the mine (generally with a high moisture content). Drying can increase this figure - the old brown coal briquettes were 22.4 GJ per tonne.

And not that it's overly relevant, but dry (20% moisture) firewood is generally taken as being 16.2 GJ per tonne.


----------



## Mickel (3 May 2009)

Smurf1976 said:


> Putting this figure in perspective...
> 
> Enough gas to supply the entire natural gas use of NSW, ACT, Vic and SA (combined) for a bit over a decade.
> 
> ...




Bear in mind that this FIVE THOUSAND PETAJOULES refers to Cougar Energy's Joint Venture partner's coal tenements.


----------



## springhill (7 May 2009)

Carbon looks to be making another (failed?) assault on 53.5, a noted sticking point in the past. Good volume in the last half hour has it gaining momentum
Thoughts on a possible breakout or breakdown even?


----------



## ColB (7 May 2009)

> Originally posted by Springhill
> 
> Carbon looks to be making another (failed?) assault on 53.5, a noted sticking point in the past. Good volume in the last half hour has it gaining momentum
> 
> *Thoughts on a possible breakout or breakdown* even?




It will probably break through your 53.5c but will need a very big push to get through the 600,000 odd shares in the queue at 55c.  Ran pretty hard today (Up 14%) and I would think that without some good news it won't be sustained.

Hope I'm wrong

I hold


----------



## springhill (8 May 2009)

ColB said:


> It will probably break through your 53.5c but will need a very big push to get through the 600,000 odd shares in the queue at 55c.  Ran pretty hard today (Up 14%) and I would think that without some good news it won't be sustained.
> 
> Hope I'm wrong
> 
> I hold




Success mate! Was looking very dodgy all through the day, but broke through at the death knock, witn no news apparent. Given the volume of trading in recent times (3-5 million) not sure 55 will such a big obstacle
A good day monday should see a POTENTIAL breakout here


----------



## Mickel (8 May 2009)

springhill said:


> Success mate! Was looking very dodgy all through the day, but broke through at the death knock, witn no news apparent. Given the volume of trading in recent times (3-5 million) not sure 55 will such a big obstacle
> A good day monday should see a POTENTIAL breakout here




Springhill, perhaps the late rally was assisted by this story in Brisbane Times (Fairfax) which was posted online at 3.08pm today-

http://www.brisbanetimes.com.au/qld...eensland-gas-looks-greener-20090508-ax8t.html

In my view the reporter didn't describe Carbon Energy's processes that well, but it still could have had a positive effect on the S/P.

I hold CNX.


----------



## johannlo (25 May 2009)

Whats with the sudden reversal of fortune? Market depth is looking shocking. Is it entirely due to the Magma holdings share dilution?>


----------



## springhill (20 July 2009)

CNX have released the details of their presentation to be showcased at an Extraordinary General Meeting of Shareholders to be held this morning

http://www.asx.com.au/asxpdf/20090720/pdf/31jmjvpq5gwsdr.pdf


----------



## springhill (23 July 2009)

CNX has had a stellar gain of around 40% in the last 2 days on the back of consecutive announcements with yesterdays being of the most interest, just curious as to peoples' thoughts on the strength of the breakout?

No one has posted the second announcement in regards to the agreement with ZeroGen so here it is....
http://www.asx.com.au/asxpdf/20090722/pdf/31jnxf59vf35c0.pdf

The obvious keys to me from the info provided lately are the existing gas & transmission infrastructure running through the tenament & the use of carbon capture technology is going to be a major plus


----------



## Mickel (24 July 2009)

springhill said:


> CNX has had a stellar gain of around 40% in the last 2 days on the back of consecutive announcements with yesterdays being of the most interest, just curious as to peoples' thoughts on the strength of the breakout?
> 
> No one has posted the second announcement in regards to the agreement with ZeroGen so here it is....
> http://www.asx.com.au/asxpdf/20090722/pdf/31jnxf59vf35c0.pdf
> ...




In my view, the strength of the buying (many trades over 100,000) is because of the Carbon Capture trial which seems to be the 1st practical application and it appears Fund Managers are getting on board.Therefore I think it will continue in the short term. If more positive news about the trial emerges then the S/P should continue its upward trend.

I'm a long term holder.


----------



## berbouy (27 July 2009)

good news today for the cnx faithful- the following was on proactive investor, and looks to be another milestone for this go ahead company;have decided to hold a few on the strength of the last few news releases



Carbon Energy (CNX) has executed a deal to joint venture a 338 million tonne inferred thermal Coal Resource in Queensland’s Galilee Basin.

It will hold 80% of the Joint Venture and will be the operator, Libery Resources (ASX: LBY) will contribute the tenements holding the coal resource into the JV.

Using Underground Coal Gasification (UCG), a number of coal resources in the Galilee Basin have potential to be monetised. Already, Carbon Energy has Queensland Government policy approval for a UCG plant at one of its tenements in the Surat Basin. 

Carbon Energy has signed a Heads of Agreement (HoA) with Liberty Resources (ASX: LBY) to establish a joint venture to develop Liberty’s 338 million tonne thermal coal inferred resource in the Galilee Basin.

The optimal development of the resource will be evaluated by Carbon, using its expertise in Underground Coal Gasification.


----------



## springhill (7 August 2009)

http://www.asx.com.au/asxpdf/20090807/pdf/31jzgp72qw113k.pdf

Managing Directors newsletter has been released to the market this morning, nothing new really, but all recent announcements are available from this one source in PDF links on the page.
Good to see they are keeping a constant flow of info to the market.


----------



## davidsbodin (8 August 2009)

Southern Cross / Potters have a min target of 90 cents to 139 based on values of other similar stocks CXY.

10.00 + based on the energy 

 im Long


----------



## springhill (8 August 2009)

davidsbodin said:


> Southern Cross / Potters have a min target of 90 cents to 139 based on values of other similar stocks CXY.
> 
> 10.00 + based on the energy
> 
> im Long




Im LOOOOONG also, but remember Southern Cross have an interest in CNX

This from the half year financial report from Dec 08
NOTE 2 – SHARE-BASED PAYMENTS
The following share based payments arrangements existed at 31 December 2008.
*On 3 July 2008, 2,000,000 Share Options were granted to Southern Cross Equities for services in
relation to capital raisings. These Options have an exercise price of $0.60 and expire on 30 June 2011*


----------



## orr (8 August 2009)

In the Directors Buying notices todays Herald CNX gets it's hat in the ring, for any body not watching their announcments.


----------



## berbouy (13 August 2009)

cnx on a tear this morning,and comfortably went through the 65 cents -before  a trading halt pending an announcement by the company-anybody have any news?


----------



## springhill (13 August 2009)

berbouy said:


> cnx on a tear this morning,and comfortably went through the 65 cents -before  a trading halt pending an announcement by the company-anybody have any news?




Trading halt has to do with the sale of their gold assets. No great loss there, grades weren't great anyway.


----------



## SUNYA2006 (13 August 2009)

I think it ia a good news because more received cash will make major area more stronger. How will CNX reach next Monday depends on how much the gold asset can sell.


----------



## springhill (13 August 2009)

SUNYA2006 said:


> I think it ia a good news because more received cash will make major area more stronger. How will CNX reach next Monday depends on how much the gold asset can sell.




Absolutely it is, cash in the bank is king! There was talk at one stage of spinning off their gold and uranium assets, but that would've been a folly IMO. Stick to what you're good at and is taking you in the right direction. Still have U assets in their pockets aswell.


----------



## springhill (14 August 2009)

http://www.asx.com.au/asxpdf/20090814/pdf/31k2z3hgj2xywv.pdf

CNX released sale of gold assets announcement, as expected, fair value for them IMO i thought $2m might be around the mark
Spin off of their U assets aswell, dont know what to think of this just yet. Very early days of exploration & im sceptical the Northern Italian mine will get off the ground. Alot of strong greenie sentiment against it.


----------



## SUNYA2006 (14 August 2009)

springhill said:


> http://www.asx.com.au/asxpdf/20090814/pdf/31k2z3hgj2xywv.pdf
> 
> CNX released sale of gold assets announcement, as expected, fair value for them IMO i thought $2m might be around the mark
> Spin off of their U assets aswell, dont know what to think of this just yet. Very early days of exploration & im sceptical the Northern Italian mine will get off the ground. Alot of strong greenie sentiment against it.




But market is obviously disappointed by this lower price. 80,0000 ounces gold resource only value this little sum of money?


----------



## springhill (14 August 2009)

SUNYA2006 said:


> But market is obviously disappointed by this lower price. 80,0000 ounces gold resource only value this little sum of money?




Not sure that the gold is the issue, market is probably factoring the loss of the value of the U assets from the company


----------



## springhill (21 August 2009)

54 - 57 10:36:49 am 64 38,794 0.5 $24,828 4 
45 - 53 10:31:54 am 63.5 74,775 0.5 $47,482 9 
31 - 44 10:27:54 am 63 88,729 0.5 $55,899 14 
23 - 30 10:16:08 am 62.5 40,530 0.5 $25,331 8 
17 - 22 10:07:01 am 62 81,036 0.5 $50,242 6 
15 - 16 10:03:51 am 61.5 24,734 0.5 $15,211 2 
2 - 14 10:03:17 am 61 93,214 1 $56,861 13 
1 10:01:14 am 60 3,011,063   $1,806,638 1 

Unusual rather large trade on the open for CNX this morn, any opinions on this? Also happened with WSA, 1,000,000 in 1 trade at the open aswell


----------



## berbouy (21 August 2009)

hi springhill-and some large trades went through yesterday afternoon, i was watching the market depth, and 1.6 million shares or so was slipped in in 3 lots i think, and quickly snapped up-happened so quick , i thought i was seeing things....then it just carried on as if nothing had happened, back at .6  to .605...perhaps something is going on.


----------



## springhill (21 August 2009)

berbouy said:


> hi springhill-and some large trades went through yesterday afternoon, i was watching the market depth, and 1.6 million shares or so was slipped in in 3 lots i think, and quickly snapped up-happened so quick , i thought i was seeing things....then it just carried on as if nothing had happened, back at .6  to .605...perhaps something is going on.




I've thought in the last month that there was some accumulation going on with CNX, maybe by one entity, maybe not. Has found excellent support around the 60 cent mark. We may well see a notice of new substantial holding appearing soon, or possibly a takeover bid.... not a ramp, just a thought. REY has had a takeover bid placed on them. CNX may be ripe for the picking before they possibly increase reserves or announce agreements with other companies for their syngas and other related products?


----------



## SUNYA2006 (23 August 2009)

springhill said:


> I've thought in the last month that there was some accumulation going on with CNX, maybe by one entity, maybe not. Has found excellent support around the 60 cent mark. We may well see a notice of new substantial holding appearing soon, or possibly a takeover bid.... not a ramp, just a thought. REY has had a takeover bid placed on them. CNX may be ripe for the picking before they possibly increase reserves or announce agreements with other companies for their syngas and other related products?




Can you make a further explanation when and how REY had a takeover bid on CNX. Rey only has a 38 millions maket capital ,I do not believe it has capabilty to take over CNX. It is reasonalbe that CNX purchase REY.


----------



## springhill (23 August 2009)

SUNYA2006 said:


> Can you make a further explanation when and how REY had a takeover bid on CNX. Rey only has a 38 millions maket capital ,I do not believe it has capabilty to take over CNX. It is reasonalbe that CNX purchase REY.




You've misread what i've said, or i didn't explain myself properly. REY have had a takeover bid placed on them by Gujarat (GNM), nothing to do with CNX, just pointing out there is action in the sector.
http://www.asx.com.au/asxpdf/20090603/pdf/31hxbysjhdr3yf.pdf

As a side note, UGC (focused on IRH) made the main headline in the business section of the Sunday Times this morn.

http://www.news.com.au/perthnow/story/0,21598,25966918-5017962,00.html


----------



## SUNYA2006 (27 August 2009)

springhill said:


> You've misread what i've said, or i didn't explain myself properly. REY have had a takeover bid placed on them by Gujarat (GNM), nothing to do with CNX, just pointing out there is action in the sector.
> http://www.asx.com.au/asxpdf/20090603/pdf/31hxbysjhdr3yf.pdf
> 
> As a side note, UGC (focused on IRH) made the main headline in the business section of the Sunday Times this morn.
> ...




What is your opinion about the perspective of IRH? It has signed several agreement with Aussie and chinese partner in UGC projects. In comparison with CNX and LNC, do you think the stock price of IRH(7c) is undervalued?


----------



## springhill (27 August 2009)

SUNYA2006 said:


> What is your opinion about the perspective of IRH? It has signed several agreement with Aussie and chinese partner in UGC projects. In comparison with CNX and LNC, do you think the stock price of IRH(7c) is undervalued?




I'm not ovrly familiar with IRH so i cant give an opinion on that, its the markets opinion of IRH that matters, but you have to consider since May its price has increased approx 530%. In comparison with the other players thats very impressive.
CNX approx 50%
CXY approx 30%
SYS approx 140%
LBY approx 230%
REY approx 285%
LNC approx -35%


----------



## SUNYA2006 (31 August 2009)

springhill said:


> I'm not ovrly familiar with IRH so i cant give an opinion on that, its the markets opinion of IRH that matters, but you have to consider since May its price has increased approx 530%. In comparison with the other players thats very impressive.
> CNX approx 50%
> CXY approx 30%
> SYS approx 140%
> ...




Thanks a lot for your information. I have two questions for your answer:
1: what is about perspective of CNX? Do you believe if it will reach 1$ in a short time according to its resource and UCG technology? Maybe a higher price is not a dream.
2: Please make a research in IRH. Today is deadline of its stock purchase plan. I think it can not be completed easily because current price is only 6c but new share cost 25c. If plan of acquisition of CLEAN ENERGY is approved in next general meeting ,300000000 units must be sent to it. So the nps will be diluted to app. 2-3c at that time. I think it is a good buy chance for us if such procedures will happen. Clean energy has signed several UCG agreements with domestic and foreign conterparts, I think its price will reach 20c or even more in comparison with similiar companies.
Look forward for your comment.


----------



## YOUNG_TRADER (31 August 2009)

springhill said:


> I'm not ovrly familiar with IRH so i cant give an opinion on that, its the markets opinion of IRH that matters, but you have to consider since May its price has increased approx 530%. In comparison with the other players thats very impressive.
> CNX approx 50%
> CXY approx 30%
> SYS approx 140%
> ...




You need to add LOD to that list of UCG plays that has delivered staggering returns from a low of 1c to 18c = 1800%

A very new player to the UCG sector is GCR, though the market has absolutely no idea it has moved into UCG as the company only somewhat mentioned it in its qtrly, once a proper UCG update is given I feel another strong re-rating will be had


Also from your list its interesting to see that the Mkt Leader LNC has performed the poorest


----------



## YOUNG_TRADER (31 August 2009)

breaking out and making new highs today

Go the UCG sector!

Cleaner and Greener power with greener bank accounts for us lol :


----------



## SUNYA2006 (31 August 2009)

YOUNG_TRADER said:


> breaking out and making new highs today
> 
> Go the UCG sector!
> 
> Cleaner and Greener power with greener bank accounts for us lol :




Why did you say GCR is also coming in UCG area? It is just a mine exploitation company which has relation with chinese counterpart. I agree that CNX is breaking its peak price but need to be verified.


----------



## swm79 (31 August 2009)

SUNYA2006 said:


> Why did you say GCR is also coming in UCG area? It is just a mine exploitation company which has relation with chinese counterpart. I agree that CNX is breaking its peak price but need to be verified.




because in GCR's quarterly report it states that GCR has been offered three coal tenements (and applied for a further four) in QLD... noting that the areas have the potential for UCG... AND that they intend to test the sustainability of them.


----------



## SUNYA2006 (31 August 2009)

swm79 said:


> because in GCR's quarterly report it states that GCR has been offered three coal tenements (and applied for a further four) in QLD... noting that the areas have the potential for UCG... AND that they intend to test the sustainability of them.




Would you please give me exact date of such report? Thank for your information and I am just intending to find some opportunity.


----------



## swm79 (31 August 2009)

SUNYA2006 said:


> Would you please give me exact date of such report? Thank for your information and I am just intending to find some opportunity.




its in the june 2009 quarterly report.

or you can do a search on GCR here and read about it on that thread.


----------



## Mickel (4 September 2009)

CNX has been powering ahead particularily over the last week or so. Currently up 1c today at $0.80

This is a list of prices and volumes over the last month-

CNX,"03 Aug 2009",.62,.65,.62,.63,4781859
CNX,"04 Aug 2009",.65,.655,.62,.63,5368036
CNX,"05 Aug 2009",.63,.63,.59,.59,1665928
CNX,"06 Aug 2009",.59,.65,.57,.625,3481163
CNX,"07 Aug 2009",.615,.62,.6,.6,1174781
CNX,"10 Aug 2009",.62,.62,.585,.6,1627330
CNX,"11 Aug 2009",.6,.6,.575,.59,1195243
CNX,"12 Aug 2009",.58,.635,.58,.625,8433617
CNX,"13 Aug 2009",.64,.685,.64,.68,3436200
CNX,"14 Aug 2009",.685,.7,.64,.67,5086835
CNX,"17 Aug 2009",.655,.66,.645,.645,1691993
CNX,"18 Aug 2009",.615,.615,.585,.605,2405370
CNX,"19 Aug 2009",.62,.63,.6,.6,1588525
CNX,"20 Aug 2009",.61,.61,.595,.6,3121404
CNX,"21 Aug 2009",.61,.64,.605,.615,4418951
CNX,"24 Aug 2009",.635,.66,.635,.645,2828929
CNX,"25 Aug 2009",.645,.67,.635,.66,3685238
CNX,"26 Aug 2009",.66,.69,.66,.685,3355525
CNX,"27 Aug 2009",.695,.72,.665,.715,5400891
CNX,"28 Aug 2009",.735,.74,.685,.72,6700015
CNX,"31 Aug 2009",.72,.755,.72,.75,3654538
CNX,"01 Sep 2009",.75,.75,.725,.75,1469624
CNX,"02 Sep 2009",.715,.745,.705,.715,1372139
CNX,"03 Sep 2009",.72,.795,.72,.79,4254297


----------



## SUNYA2006 (4 September 2009)

It looks CNX will reach $1 in a short time. Maybe is next week. Acoording to analysis report of Southern cross, it is normal that CNX trades between 0.9-1.39. I think we can make a more bolder prediction.


----------



## springhill (8 September 2009)

Okely Dokely was watchin CNX today and after a rather ho-hum 3/4 of a day, things fired up into the final hour of trading. 8 million moved today, of that 4 million were shifted in the last 20mins. Of that 20 min block 3 million were snapped up in the space of 6 minutes (highlighted in red)!
Culminating in a 9.5 cent rise to finish the day at 85.5, nice work.

Trade
Number (s) Time
Last Traded Price Volume Change Value Number
of Trades 
399 - 415 4:10:44 pm 85.5 271,622 0.5 $232,237 17 
396 - 398 3:59:58 pm 85 55,000 0.5 $46,750 3 
395 3:56:54 pm 84.5 15 1 $13 1 
393 - 394 3:56:46 pm 85.5 50,050 2 $42,793 2 
390 - 392 3:56:16 pm 83.5 18,864 0.5 $15,751 3 
388 - 389 3:56:10 pm 84 26,000 1 $21,840 2 
387 3:56:10 pm 85 56,115 0.5 $47,698 1 
385 - 386 3:56:10 pm 85.5 18,000 0.5 $15,390 2 
368 - 384 3:55:06 pm 85 380,000 0.5 $323,000 17 
367 3:53:33 pm 85.5 2,000 0.5 $1,710 1 
365 - 366 3:53:32 pm 85 38,651 0.5 $32,853 2 
361 - 364 3:53:32 pm 84.5 21,814 0.5 $18,433 4 
360 3:53:08 pm 85 2,850 0.5 $2,422 1 
359 3:52:51 pm 84.5 3,500 0.5 $2,958 1 
352 - 358 3:52:46 pm 85 48,000 0.5 $40,800 7 
350 - 351 3:51:59 pm 84.5 19,985 0.5 $16,887 2 
349 3:51:55 pm 84 10,000 0.5 $8,400 1 
348 3:51:45 pm 84.5 15 1.5 $13 1 
347 3:50:53 pm 86 48 1 $41 1 
337 - 346 3:50:40 pm 85 344,270 0.5 $292,630 10 
334 - 336 3:50:40 pm 84.5 23,000 0.5 $19,435 3 
323 - 333 3:50:40 pm 84 148,314 0.5 $124,584 11 
318 - 322 3:50:11 pm 83.5 58,440 0.5 $48,797 5 
305 - 317 3:49:33 pm 83 357,934 0.5 $297,085 13 
300 - 304 3:47:06 pm 82.5 299,800 0.5 $247,335 5 
291 - 299 3:45:57 pm 82 649,000 1 $532,180 9 
288 - 290 3:45:10 pm 81 373,373 0.5 $302,432 3 
283 - 287 3:44:47 pm 81.5 419,450 0.5 $341,852 5 
277 - 282 3:44:38 pm 81 276,102 0.5 $223,643 6 

Graph shows the late day movement


----------



## jonnohowe (10 September 2009)

Might have been snapped up late yesterday when it was ann that Andrew would be on Sky Business News - anticipating a retail rally after he appeared. Perhaps not, but we've seen the likes of LNC, and we know the potential. It's not far away now.


----------



## springhill (10 September 2009)

jonnohowe said:


> Might have been snapped up late yesterday when it was ann that Andrew would be on Sky Business News - anticipating a retail rally after he appeared. Perhaps not, but we've seen the likes of LNC, and we know the potential. It's not far away now.




Any ideas why up until this point today there are 35 trades of share quantity sizes <500 shares? Haven't come across this with CNX before 
Does it mean anything, or nothing at all?


----------



## jonnohowe (11 September 2009)

springhill said:


> Any ideas why up until this point today there are 35 trades of share quantity sizes <500 shares? Haven't come across this with CNX before
> Does it mean anything, or nothing at all?




Funny you say that, same thing happened with EXT a while back when it was $7.50 ..think it's automated trading systems trying to manipulate the price, create selling pressure. I can feel an insto cleanup coming.


----------



## springhill (11 September 2009)

jonnohowe said:


> Funny you say that, same thing happened with EXT a while back when it was $7.50 ..think it's automated trading systems trying to manipulate the price, create selling pressure. I can feel an insto cleanup coming.




It seems our auto trading system was in overdrive today, with ALOT of double digit trades, including many in the ....teen volume of shares culminating in the final trade being of 1 princely share. I fail to see what they are trying to achieve here, would someone be kind enough to explain the mechanics of it to me?


----------



## Mickel (13 November 2009)

Good news from CEO with latest ASX statement today-

Power station construction on track


*5MW power station construction due for
completion by end of December
Queensland Government representative to
officiate at Bloodwood Creek event
Plans for the next phase – a 20MW facility
incorporating CCS – are underway
*>
>
>

“In July we commenced the construction of our 5MW power plant, which we
aim to have up and operational prior to the end of December, with electricity
following into the local grid by January next year.
We set ourselves an extremely ambitious target of six months (July-
December) to disassemble the generating equipment from its Victorian
location, build the new foundations at our Queensland site, transport the
equipment, reassemble, test and commission, ready to connect to the local
electricity network.
The power station, when commissioned, will be fuelled by gas produced from
our Underground Coal Gasification (UCG) panel constructed last year and
it’s important to recognise that this will be the first power facility of its type in
Australia.
I am pleased to say we are currently on track and I have outlined the major
construction milestones below.
Due to the flurry of activity in July, getting the 5MW project up and running, we
did not have the opportunity to do any type of official launch function, so this
is now planned for 19th November. I am pleased to say that the Honourable
Michael Choi Parliamentary Secretary to the Minister for Natural Resources,
Water & Energy will be officiating at our Mid Construction Launch.
Whilst the 5MW plant is an important first phase project for Carbon Energy, we
are already well progressed with our Phase 2 project, an additional 20-25 MW
power plant, which will incorporate carbon capture and storage technology.
Front-end engineering and design (FEED) is now underway with the initial
report due in December.
This is an exciting project as it will position Carbon Energy at the forefront of
the world-wide quest for low emission energy from coal.
As you can see it’s been a busy few months and I look forward to keeping you
updated on our progress.”
Regards
Andrew
Managing Director
Andrew Dash


----------



## basilio (6 December 2009)

Great little boost to SP following the announcement of the Chilean deal. Short story is that CNX is establishing a joint venture with a Chilean mineral company to develop their coal reserves via UCG for power generation. Interesting point they make is that the returns will be  between 2 and 3 times more than the Queensland project because the current cost of fuels in Chile is much higher than here. Be interested to hear other member's thoughts.

It's great to see this technology going. (Even better when one has a  piece of the action.)

Link to report below. Now let's see LINC make a move.

http://www.asx.com.au/asxpdf/20091204/pdf/31mk5k3bhyhkls.pdf


----------



## basilio (3 March 2010)

Not a good day for CNX. Dropped 10c or 18% on news of delay in commissioning their power plant. And of course they have been falling steadily from 88c in January to 40c now. 

Is this another buying opportunity ? Any thoughts ?


----------



## springhill (5 March 2010)

basilio said:


> Not a good day for CNX. Dropped 10c or 18% on news of delay in commissioning their power plant. And of course they have been falling steadily from 88c in January to 40c now.
> 
> Is this another buying opportunity ? Any thoughts ?




Hi basilio, it seems Incitec Pivot.....

http://www.asx.com.au/asxpdf/20100305/pdf/31p3k4gml4ckcn.pdf

and Director, Peter Hogan seem to agree with you

http://www.asx.com.au/asxpdf/20100305/pdf/31p3clvbfsg4vt.pdf

at this point a monor delay is not enough to worry me, and i have bought at this level in the past.
Good luck!


----------



## CanOz (21 March 2010)

This is starting to look like one interesting chart! I like the big triangle, and the little reverse H & S pattern within it.



Cheers,


CanOz


----------



## springhill (7 May 2010)

It seems someone wanted a rather large slice of the CNX pie today or there is a major anamoly!

3:43:44 PM 0.600 28,909,885 17,345,931.000 XTOS
aswell as
3:46:37 PM 0.600 30,089,880 18,053,928.000 XTOS 

The query is officially CNX traded all day between highs of 0.47 and lows of 0.38, why hasn't the 0.60 registered on the highs.
Why would someone pay 0.60 for a .045 share?
XTOS means a cross trade from an overseas buyer, am i correct?


----------



## basilio (7 May 2010)

Wasn 't that a surprise today!!! Amongst a tide of blood _little ol cnx  _somehow jumps 9% from 10 foot under to just 6 foot under and some mystery overseas identity picks up 59 million shares at allegedly 15c over the current price.

Would really like to know what is happening here...Or is it the case that in the 30's  CNX is just ridiculously cheap? Really really hope so...


----------



## springhill (7 May 2010)

basilio said:


> Wasn 't that a surprise today!!! Amongst a tide of blood _little ol cnx  _somehow jumps 9% from 10 foot under to just 6 foot under and some mystery overseas identity picks up 59 million shares at allegedly 15c over the current price.
> 
> Would really like to know what is happening here...Or is it the case that in the 30's  CNX is just ridiculously cheap? Really really hope so...




Well a note of substantial initial/increased holding should come out monday, so we won't have to wait long me thinks


----------



## springhill (8 May 2010)

OK here's my theory on the 59 mill XTOS CNX purchase friday.

Here is a list below of CNX's top 20 shareholders as of the 17/3/2010;

COMMONWEALTH SCI & IN ORG  87,346,154  14.91%  
INCITEC PIVOT LTD  66,554,864  11.36%  
*HSBC CUSTODY NOM AUST LTD  27,999,217  4.78%  
LUJETA PL  18,800,000  3.21%  
*J P MORGAN NOM AUST LTD  12,175,846  2.08%  
*MALLETT CW & WJ  11,766,952  2.01%  
DARLEY PL  10,000,000  1.71%  
HARMAN NOM PL  9,300,000  1.59%  
EQUITY TTES LTD  7,082,671  1.21%  
ANZ NOM LTD  7,058,619  1.20%  
BRIDGELANE PL  6,600,000  1.13%  
CASSA TRADING PL  6,254,429  1.07%  
USB WEALTH MGNT AUST NOM  5,752,425  0.98%  
CASSA TRADING PL  5,200,000  0.89%  
STANLEY ROSS FRANCIS  5,000,000  0.85%  
MORCOMBE DARREN  5,000,000  0.85%  
NATIONAL NOM LTD  4,749,457  0.81%  
COMPUTER VISIONS PL  4,500,000  0.77%  
ALLEENDONAN INV PL  4,465,389  0.76%  
STOCKWORK KAL PL  4,300,000  0.73%  
Total:  309,906,023  52.90% 

Now, CSIRO now only hold 4.8% due to selling a large chunk to Pacific Road Resources Fund.

Which only leaves Incitec Pivot (11.36%) and Pacific Road (10%) with a large enough holding to sell that many shares in 2 trades.

Pacific Road hold at an average of 40.5 cents
http://www.carbonenergy.com.au/media/pdf/investors/ASX020708.pdf
Whereas i believe IPL hold at 20 cents
http://www.carbonenergy.com.au/media/pdf/investors/ASX020708.pdf

So it is my belief one of these 2 ( I have my money on IPL, as Pacific Road have just entered the fray ) sold out at a decent profit and the buyer is possibly an overseas investment fund or A LARGE SCALE ENERGY PLAYER, as they have pillaged most of the CSG companies and now may turn their eyes to the UCG comps.

This is theory only.
Would like to hear others thoughts.


----------



## basilio (9 May 2010)

Interesting scenario springhill. And the figures and logic seem right.

It would be extremely interesting to see why Pivot, who seem to have a strong commercial interest in CNX as user of the syngas product, would suddenly sell. Do they know something?

Also curious at the premium on current share price. Whose interests is this serving?


----------



## springhill (10 May 2010)

basilio said:


> Interesting scenario springhill. And the figures and logic seem right.
> 
> It would be extremely interesting to see why Pivot, who seem to have a strong commercial interest in CNX as user of the syngas product, would suddenly sell. Do they know something?
> 
> Also curious at the premium on current share price. Whose interests is this serving?




False alarm basilio seems it was the actual 10% acquistion of the CSIRO shares going through, interesting they have the option of picking up the other 4.8% at 93 cents.
Oh well i had fun theorising anyway 

http://www.asx.com.au/asxpdf/20100510/pdf/31q7ssjy8kkd9g.pdf


----------



## basilio (10 May 2010)

> Originally Posted by basilio  View Post
> Interesting scenario springhill. And the figures and logic seem right.
> 
> It would be extremely interesting to see why Pivot, who seem to have a strong commercial interest in CNX as user of the syngas product, would suddenly sell. Do they know something?
> ...




Yep just the Pacific crossver being completed.

But I can't help being disturbed that today when (almost) every other share that had been belted is making some sort of recovery CNX keeps on falling. Seems to be saying there is very little support even at what seem to be quite low prices... 

Would really like to see mangagment  give some positive guidance to where CNX is going. Or perhaps there isn't sufficient to say ??


----------



## Dink (2 June 2010)

Courier Mail 19 May 2010

Surat Basin farmers call for moratorium on coal seam gas mining
Brian Williams

"MORE than 500 farmers who attended a protest meeting called for the government to place a moratorium on coal seam gas mining.

Growers lined up one kilometre of farm machinery at a paddock at Cecil Plains west of Toowoomba in a show of strength to demonstrate they are capable of blocking mining company access to their land.

The farmers face up to 40,000 gas wells being drilled across some of the state’s best food-producing land.

Protest organiser Dave Armstrong said famers were gearing up for the fight of their lives. “What other choice do we have?” Mr Armstrong asked. “They have put us in a corner.”

Surat Basin farmers say mining companies in their district, two hours north-west of Brisbane, are putting their livelihoods, and in some cases even their homes, at risk."

Anyone in the area have an update on what the outcome from the protest was... if there was one? Any specific ideas on the relationship that CNX has with the farmers. From my discussions with someone in Chinchilla he stated that the general sentiment was positive amongst many in the town but he is not a farmer.


----------



## Dink (11 June 2010)

Good day today. Improved volume and a rise in the share price with no news. Anyone have any ideas as to whether this is due to something? The only thing I can think of is that the drill rig has arrived at Bloodwood Creek...


----------



## berbouy (11 June 2010)

yes,pleasing to see the rise today, dink-a good percentage gain not to be sneezed at.no idea why, except perhaps a few good days on the all ords, and the dow , may have increased risk appetite a little?anyway , hope to see cnx back in the 40,s soon, and can build from there.time will tell, but dyor.
enjoy your weekend everybody


----------



## springhill (21 July 2010)

Today i will be exiting CNX completely, there are 2 reasons for this.

Firstly, after watching the CSG v UGC battle, it has become apparent (not just overnight, but gradually over time) that UGC is the b@stard child. CSG is powering ahead with takeovers, while Coal Gasification companies flounder.  

Secondly, CXY's shutdown has given me the yips, whether for valid reasons or not, the industry can be tainted with this brush. Underground burning is not established, and i don't see overwhelming support for something politicians, and the general public for that matter, can put a bad spin on. Burning coal is politically 'dirty' whether above ground, or below. Whereas the traditional burning of coal to produce energy, or in the use of material production is established.

For these reasons the risk outweighs the reward in my mind, considering i have already made good money on CNX.
I wish them and their holders well, and hope for both their sakes i am wrong.


----------



## Mickel (12 August 2010)

Good news for the UCG industry with these DERM (Dept of Environment and Resource Management) press releases on 11 August 2010 -

Cougar Energy CXY
Landholder bore restrictions removed near Kingaroy UCG plant.

http://www.derm.qld.gov.au/media-roo...esting-11.html

Carbon Energy.
Kogan Creek water tests indicate no concerns.

http://www.derm.qld.gov.au/media-roo...-creek-11.html


----------



## Mickel (17 August 2010)

More good news from Carbon Energy-

Carbon Energy is pleased to announce that its partner in Chile, Antofagasta Minerals (“Antofagasta”), has obtained Environmental Approval for the first stage of the parties’ joint Underground Coal Gasification (“UCG”) project in Chile.


http://www.carbonenergy.com.au/imag...pproval obtained for ucg project in chile.pdf

CNX finished up 3c to $0.375


----------



## Mickel (17 November 2010)

Good day for CNX today - up 06c (15%) to 45.5c on the back of the following announcement-

"Bloodwood Creek Environmental Update
Carbon Energy (ASX: CNX) advises that the Queensland Government Department of Environment and Resource Management (DERM) last night informed Carbon Energy that it has accepted the Company’s environmental report as addressing the requirements of the Environmental Evaluation notice issued on 21 July 2010 and additional information notice issued on 21 September 2010.
The evaluation related specifically to containment of surface water on site, a common situation faced by many industries and not specifically Underground Coal Gasification (UCG), and at no time were underground activities or groundwater impacted by the incident.
As part of the evaluation, a comprehensive soil testing program was undertaken and has been independently assessed by a tier 1 Environmental Consultancy which confirmed that there was no ongoing effects or environmental harm.
As part of its report, the Company detailed the engineering and operating changes it has established on site to ensure that any reoccurrence is mitigated and has already put in place additional environmental controls.
DERM has further advised that, prior to gasification commencing for the Company’s UCG Panel 2, it intends to amend some of the environmental conditions for the site to reflect the outcome of the environmental report and the Company’s proposed mitigation measures.
The Company will hold meetings with DERM representatives in Brisbane today and onsite later this week to finalise these conditions and establish a date for commissioning of UCG Panel 2.
The Company welcomes the news that its environmental report has been accepted and will work cooperatively with DERM to expedite any changes to environmental conditions arising from the report to ensure that commissioning of UCG Panel 2 can proceed as soon as possible.

For and on behalf of the Board

Andrew Dash
Managing Director"

http://imagesignal.comsec.com.au/asxdata/20101117/pdf/01121622.pdf

Hopefully it will be only a week or so before CNX can begin the commercial operation of UCG for power generation. They have a $2M per yr power contract.
I hold CNX.


----------



## Mickel (11 February 2011)

Well, so much for only a week or so before they recommence.

However there is good news today from the Minister Kate Jones-

" Minister for Climate Change and Sustainability
The Honourable Kate Jones

Friday, February 11, 2011

Carbon’s UCG trial to recommence with stricter conditions

The Department of Environment and Resource Management (DERM) has today issued amended Environmental Authorities to Carbon Energy allowing them to restart their Underground Coal Gasification (UCG) trial at Kogan."

But not just yet-

"
The new conditions include:

• Improved infrastructure to ensure better storage capacity and management of process water (such as the construction of additional tanks and other storage infrastructure)

• Improved underground monitoring through the installation of additional groundwater monitoring networks

• Improved risk management practices and more stringent notification requirements

“The company has already implemented some of the new conditions, but until all conditions and requirements under the amended authorities are met the company cannot lawfully recommence operations,” he said.

“Our officers will conduct another on-site inspection prior to the trial recommencing to ensure they have fulfilled these requirements.

“The formal investigation to determine if any legal action should be taken against the company relating to this incident continues.”

Mr Bradley said once the company complies with the new requirements, the department is confident it can operate in a safe and sustainable way."

http://www.cabinet.qld.gov.au/mms/StatementDisplaySingle.aspx?id=73612


----------



## Inquisitor (12 February 2011)

CNX should better focus on overseas operations where they face less regulation. CNX and UCG in general seems to be politicians' puppet and the market hates politicised stocks. I hope their Chilean joint venture will advance soon.


----------



## earthgas (12 February 2011)

My only paper-loss investment for the last 3 months, and I do believe it is crunching time for CNX now. Friday's low at 30c has tested 2 years low ago, and any encouraging news coming from the company should be able to advert the down trend.


----------



## Mickel (13 February 2011)

earthgas said:


> My only paper-loss investment for the last 3 months, and I do believe it is crunching time for CNX now. Friday's low at 30c has tested 2 years low ago, and any encouraging news coming from the company should be able to advert the down trend.




Earthy,I hope you did see my previous post (No.180) on the previous page.
It should the the start of various good announcements for CNX.


----------



## earthgas (14 February 2011)

Thanks Mickel. The SP would probably consolidate at the current level, I have trimmed my expectation for this stock for the next 6 months to 50c. The reason I say this is there won't be any major announcement, unless a Take-over bit. I don't feel the market likes this company compare with before, check the volume out. For this sort of announcement, I think over 5 mil should be exchanged hands.


----------



## alexc2005 (30 April 2011)

*CNX- Carbon Energy*

Can't see this one already listed here.

Just released a quarterly report and things are looking good.

Have demonstrated the use of syngas in an internal combustion engine and have plans for a 25MW gas turbine in the near future.

Any thoughts?


----------



## ColB (11 January 2012)

Up over 30% from a low of 9c a couple of days ago to 13.5c today on good volume and no news!!

A resurgence in underground coal gasification?  Be interesting to see what happens in the next couple of days....


----------



## springhill (27 June 2012)

I haven't held any CNX for a long time, so the daily dealings of them have passed me by, but they have released an announcement detailing the cost of CNX produced UCG gas versus forecasted natural gas prices in 2015.
http://www.asx.com.au/asxpdf/20120626/pdf/427199gdh2rtc4.pdf

The cost of producing pipeline quality natural gas from Carbon Energy’s UCG Syngas was estimated to be in the range of $3.50/GJ to $4.50/GJ (excluding carbon tax and other taxes).
This compares to recently forecast contract natural gas prices of $6.50/GJ to over $10.00/GJ by 2015 (Source: QLD Government 2012 Gas Market Review, Consultation Draft).

Also a presentation from May 23rd.
http://www.asx.com.au/asxpdf/20120523/pdf/426fhjgcsx5ggz.pdf


From memory CNX have alot of interest from overseas companies, where perhaps the political will against UCG isn't as strong as here. The Labor Feds are against UCG, while the Qld State Govt was unopposed to it, is this correct? I'm not sure if things have changed. Correct me if I am wrong.
I don't see hope for them being successful as an Australian syngas producer. An overseas syngas producer? Well that's a different story.....


----------



## springhill (3 April 2014)

My last post on CNX was nearly 2 years ago, but I did flag the possibility of CNX conducting successful operations overseas, rather than concentrating in Australia as the technology has never really recovered here since the hiccup involving Cougar that reverberated through the sector.

Whilst not investing too much of my time in revisiting CNX due to the dilution of shares which has taken it out of the range of my investment potential, it does seem that CNX is drawing income from foreign sources for their technology.

Foreign payments incoming
http://www.asx.com.au/asxpdf/20140313/pdf/42nc0d95nzwrct.pdf
http://www.asx.com.au/asxpdf/20140218/pdf/42mscbgykw4qsh.pdf

Further money incoming from a local agreement
http://www.asx.com.au/asxpdf/20140120/pdf/42m67x4jb87z7z.pdf

KEY EVENTS FOR THE DECEMBER PERIOD 
• The Queensland Government released the final report and findings of the Independent Scientific Panel (ISP) including the acceptance of the overarching recommendations by the ISP. Carbon Energy welcomed the pathway to commercialisation being set for the underground coal gasification (UCG) industry in Queensland. 
• The Company received a cash injection totalling $12.6 million raised from a fully subscribed Rights Issue totalling $7.8 million, a private placement of $1 million with Holder East Capital Limited, and receipt of a $3.78 million research and development (R&D) tax incentive rebate from the Australian Taxation Office relating to eligible FY13 R&D expenditure. 
• The Company repaid in full the outstanding balance of $3 million on the debt facility with Credit Suisse. 
• MHA Petroleum Consultants independently certified an 83% increase in Carbon Energy’s 2P UCG syngas Reserve to 1,362PJ1
• Carbon Energy signed a Memorandum of Understanding (MOU) to become the UCG technology partner to the Delmo Group for a commercial scale Argentinean UCG Project, intended to supply electricity via an offtake agreement to the Argentinean Government for which negotiations are underway. 
• Carbon Energy achieved a first for the Company by receiving the first instalment payment for the Inner Mongolia UCG Project. This major milestone represents the first ever commercialisation of Carbon Energy’s keyseam UCG technology. 
• The Company began engineering design services with a view to successfully commissioning the Process Characterisation Panel (PCP) for the Inner Mongolia UCG Project. 
• PCF Capital Group was appointed as marketing agents to monetise Carbon Energy’s coal assets in the Surat Basin, Queensland. 
• Carbon Energy signed an MOU to potentially acquire 100% of the Mulpun UCG Project in Chile subject to securing a joint venture funding partner and the acceptance of the commercial terms of the acquisition by project partner, Antofagasta Minerals S.A. 
• Carbon Energy relinquished its rights to explore tenements in Wyoming and North Dakota/Montana (USA). 
• The Company agreed to the discharge of the mortgage in relation to mining tenements in the Laverton area in return for a payment of $600,000 to the Company from Focus Minerals Limited (formerly Crescent Gold Limited). 

Once a market darling, many a year ago, has the Australian market judged UCG too harshly?


----------



## piggybank (24 September 2014)

Up 300% this week alone.

It will be said that these couple of releases to the market had something to do with it...

http://www.stocknessmonster.com/news-item?S=CNX&E=ASX&N=818867

http://www.stocknessmonster.com/news-item?S=CNX&E=ASX&N=818987


----------



## pixel (25 September 2014)

piggybank said:


> Up 300% this week alone.
> 
> It will be said that these couple of releases to the market had something to do with it...
> 
> ...




IMHO it's more likely today's release: http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01555753

My devious mind suggests that an early exercise of those 6c 2016 options could provide a welcome cash injection and reduce the need for a fund raising BBQ. But as the Market is already selling the heads down below strike, it looks as if I'm not alone with that kind cynicism...


----------



## kingink (9 October 2014)

Thoughts on whether they will be successful in QLD?


----------



## pixel (9 October 2014)

kingink said:


> Thoughts on whether they will be successful in QLD?




Looking at recent trading, direction of price and momentum suggests the answer is No :1zhelp:


----------



## kingink (9 October 2014)

Yarrrgghh she be tankin, but I hope for clear waters ahead.


----------



## orr (9 October 2014)

kingink said:


> Thoughts on whether they will be successful in QLD?




How do you rate success?  
It's made clear in the recent petroleum consultants report that assessed CNX's resource, that environmental considerations were not taken into account. 
CNX once had big plans to expand Bloodwood creek. Not any more.
So, straight to a commercial operation this time in a new area? ...... Another test panel would be my guess.

CNX..... a slow burn.


----------



## Informed (1 July 2015)

*Carbon Energy*

Do you guys think it's true that the Queensland Government is about to approve Carbon Energy's Blue Gum project? 
I only bought $1.6M shares but that's because the CSIRO have developed the clean Gasification process of extracting the gas and are huge shareholders in the company (CNX). 
Of course, the whole market is way down right now so nothing is going to happen for a while but I'm wondering if anyone else has grabbed up some shares as well in the belief that they will go places.


----------



## joeno (1 July 2015)

*Re: Carbon Energy*



Informed said:


> Do you guys think it's true that the Queensland Government is about to approve Carbon Energy's Blue Gum project?
> I only bought $1.6M shares but that's because the CSIRO have developed the clean Gasification process of extracting the gas and are huge shareholders in the company (CNX).
> Of course, the whole market is way down right now so nothing is going to happen for a while but I'm wondering if anyone else has grabbed up some shares as well in the belief that they will go places.




Haven't heard about this at all. Where is the news about the Clean Gasification process? And what makes you think it will affect the operations of CNX?


----------



## pixel (1 July 2015)

*Re: Carbon Energy*



joeno said:


> Haven't heard about this at all. Where is the news about the Clean Gasification process? And what makes you think it will affect the operations of CNX?




I'd much rather expect to read such rumours "across the road".
But there it's dead quiet on CNX, so I'll stay away until I get news from a "usually reliable" source I know.


----------



## peter2 (1 May 2022)

Time to restart this thread and we'll start with a few words about Genex Power Ltd from the board.






Their solar projects *KS1* (Qld) and *JSP* (NSW) are already producing power and some income. 
Their battery and hydro projects are ready to start construction.  *GNX* has $62M and no debt. 

IMO their outlook seems promising which is what I'd like to see in a speculative investment. CNX appeared in my weekly HVBB scan. 
The recent spp price (0.144) seems to be providing some support.






_Don't ask about the RSC panes. I'll discuss their use in a  prospective Tactical Trading thread. _


----------



## SyBoo (1 May 2022)

Delisted from the close of trading on Wednesday, 28 August 2019.


----------



## peter2 (1 May 2022)

Thanks.   I'll repost under *GNX.  (*It's getting late.)


----------

