# CXY - Cougar Energy



## motorway (26 May 2007)

volume picking up
upward drift
accumulation happening

activity increasing.

waves starting to move in the right direction
motorway


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## ands (31 May 2007)

Cougar Energy's future looks promising... maybe a future Arrow Energy... growing from a near unknown to a thriving company!


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## surfingman (31 May 2007)

wow they certainly havent spared any expense on their website... lol


http://www.cougarenergy.com.au/

A very interesting company with good potential... maybe the next ESG, arrow is a long way away but India the stakes are large...


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## BIG BWACULL (4 June 2007)

The plans to build a major power plant in pakistan must be exciting investors, 10,000,000 shares up %42


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## motorway (4 June 2007)

The character of the action
is strong

For  stock that because of it's size and price could be a bit of a wild ride

The consolidation back to the 50% zone showed strength
and today's bar would have to be suggestive of higher prices..

We had volume , We had large range  and We got the close at the high

Demand has been seen to overcome supply
and take all the offerings that the bar represents.

The bottom of a bar is created by demand
The top of a bar is created by supply

The close shows the outcome and resolution of those two sides
Volume shows participation ( Todays turn out was impressive )

I judge the character as strong convergent and harmonious.

( harmonious meaning that even though volume was high I would judge it was the buying that was good )

Just views and opinions



motorway


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## motorway (9 June 2007)

looking for this consolidation
to breakout like the previous

activity is increasing
significant preparation

another speciality
(IE not your normal trading stock, But for that reason can offer significant rewards )

views and opinions

motorway


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## moneymajix (14 June 2007)

Motor

Thanks for your posts.

I have been holding the options since 1.3c.
Heads as well.

The stock has done extremely well to date.

Keep an eye out esp. after ucg conference in the USA on 21 June where CXY will be presenting.


http://www.syngasrefiner.com/UCG/agenda.asp


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## motorway (15 June 2007)

moneymajix said:


> Motor
> 
> Thanks for your posts.
> 
> ...




well to put My posts in to perspective

I am holding the The fully paids at a average of ~.03

I am looking at the action from a number of perspectives
And seriously looking at increasing My position..

bounced off one of the  significant 50% levels today in a positive manner.
On P&F chart sideways is not time , but real work, that will lead to something.

Your looking for a harmony between horizontal and vertical..

This chart with a 5% box size.. With a stock under .10
means sideways has significance...

Also would be looking at other resolution charts
and the vertical bar charts

From a thematic perspective .. it seems a good story
certainly capturing attention

When ever a trend is unclear
a move based charting method 
= clarity

a great contrast and confirmation
to bar and candle 
charts



cheers
motorway


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## moneymajix (20 June 2007)

Ann. 


20 June 2007
COUGAR ENERGY RAISES $2.1M FOR UCG DEVELOPMENT

Cougar Energy Ltd (ASX Code: CXY) is pleased to advise that it has received commitments for the
placement of 30 million shares at a price of 7 cents per share, with a 1:2 attaching option exercisable at 5c by 31 December 2008, raising a total of $2.1m before costs associated with the placement. The placement was arranged by Melbourne Capital Ltd to sophisticated and professional investors under the 15% placement limit, and in so doing, the Company welcomes a number of new institutional investors to the Share Register.
The funds raised will be used primarily to advance Cougar Energy’s Underground Coal Gasification (UCG) project near Kingaroy in Queensland. The UCG process enables deep coal deposits to be converted into a syngas suitable for use as a fuel in power generation or the manufacture of a range of petroleum products.
Cougar Energy is now planning a multi-stage drilling program to extend data on the coal seam outside the current area of drilling, to recover core samples of both coal seam and surrounding rocks and undertake hydrogeological testing, and to install and test the first three injection/production wells. This planning process is being undertaken in association with the Company’s UCG technology provider, Ergo Exergy Technologies Inc. of Canada. Successful completion of this work program will lead to ignition of the burn, which at this stage is anticipated to commence in March/April 2008.
The planned work program will require expenditure sufficient to take Cougar Energy’s interest in the Designated UCG Area on EPC 882 from its current 51% to 70%, at which time a formal Joint Venture agreement between the Company and Metallica Minerals Ltd will come into operation.

Dr. L.K.Walker
Managing Director
Cougar Energy Ltd


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## moneymajix (20 June 2007)

I don't know if was today's ann. but the options are up 25% to 3.5c.

Shares up 7.8c (up over 5%).

Dr Len will be presenting in Houston tomorrow at the UCG conference.


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## wbaskin (20 June 2007)

Can someone please explain todays announcement for me. Does this mean the shares are currently over valued? Who has access to these 7c shares?


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## motorway (25 June 2007)

wbaskin... I Think just a normal type of capital raising transaction..

It is what happens NOW that  matters...

So just an update of the previous chart..

Does the stock give evidence of "sponsorship"

If there IS value and potential ... Price will find support
as demand emerges to meet supply..

On this chart.. that would be seen in the postings ( the Xs )
moving back to support and moving sideways with a tight pattern
as if the  price movement  is meeting a floor

No Air pockets tight W formations...
That at this level Dry up completely
( No more supply )

Up and across entails some element of distribution
back and across some element of accumulation

across or sideways tends to be one or the other
because it is not just time..

The relation of price movement to the various lines
demonstrates the difference between P&F and Vertical bar charts

To move through any of the lines entails 
some change in actual demand and supply dynamics
The passing of  just time produces nothing..

To have  a line that only demand can cross for example
is I think a great check on the movement of the vertical bar chart.


Sidways movement on a P&F is the type of sideways
that  triggers something..



DYOR
motorway


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## moneymajix (28 June 2007)

CXY is having a great day.


Options are up 30% to 3.9c and heads are up 20% to 9.3c


Dr Len was in the US at the CSG conference on the weekend. 

I wonder if some news is pending?


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## surfingman (28 June 2007)

Wow quite an impressive company last time i had a look was around .02, I brought some oppies exp DEC 2008 exercise .05 comes in a fraction cheaper than current share price.


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## gunditrader (28 June 2007)

This little beauty definitely has a lot of potential. Still a little expensive though in my opinion (FD market cap of 60m) with no sure or even probable prospects. 

definitely worth keeping an eye on though. 

Cheers for bringing it too my attention. Might try to get into it at a lower price.


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## moneymajix (29 June 2007)

Off to another good start this morning

Heads at 10c, up over 10%

Oppies at 4.9c, up 22.5%

Glad to be a holder at the moment.


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## surfingman (29 June 2007)

moneymajix said:


> Off to another good start this morning
> 
> Heads at 10c, up over 10%
> 
> ...




Off to a great start...

This is a very interesting stock with great potential.

I was reviewing the process in which they are looking to implement in India, clean green is there aim, they use coal and turn it into a fuel underground by injecting air and water to turn the bed of coal turning it into fuel, the waste is ash which is put back into the ground. 

Is this a standard approach or unique? will do some research...

Great pick Motorway thanks...


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## smoothsatin (29 June 2007)

Bought in today at .042 (CXYO). If these close at .10 (CXY) or more today, technically speaking they are likely to absolutely blow on Monday....


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## sandlion (29 June 2007)

Hi Surfing Man,..

That shows pretty much the UCG cycle..I think they are using the same company to develop who first started off with LNC (Linc Energy) in Chinchilla...I was watching them at 0.25 for a wee while, and then before payday...bammo up to mid 60's and stayed there ever since...check out the Kalina Cycle for info..also LNC website is a good read...UCG is great technology at a great time..its clean and doesnt dampen the coal industries economics..it also allows for recovery of resources that may be otherwise uneconomic..LNC definitely did a good thing by geting their own rig so they can drill merrily awy...dunno if cougar will do the same...but they are also placed in a good prospecting spot and I imagine majors like BHP/Anglo will watch them with a view to maybe taking over or licencing their technology...an interesting coincident fact is that BHP in the UK namechecked LNC as the type of company they would angle after as part of their techology divergence...I dont know much about shares but I am an engineer in the CSM and traditional gas/oil sector and these types of small companies (include MPO) are great little seeders for future growth..bit like QGC and Arrow were back in the day! 

Go the maroons!


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## moneymajix (4 July 2007)

CXY is doing nicely this morning.


Shares are 11.5c - up .017c, 17.35%  

Oppies are 5.8c - up 1c, 20.83%


I think these are new highs.


It will be interesting to see if any news coming to hand in the not too distant future.


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## Bluesky (4 July 2007)

Got in this morning, the chart looks a beauty. Energy stocks doing good atm and no sign of slowing down.
Love these bluesky stocks. Also highest volume ever traded today.


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## Bluesky (4 July 2007)

Finished on a high today at .125c, seller side looks thin could be a massive day tomorrow.
Highest ever volume of 48+ million shares.
Well done holders.


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## moneymajix (5 July 2007)

Last sale at 13.5c.

Ann. out

05 Jul 2007 10:31 !  Accepts Australian Govt Grant  

COUGAR ENERGY ACCEPTS
AUSTRALIAN GOVERNMENT GRANT FOR
RENEWABLE ENERGY STORAGE PROJECT
Melbourne, 5th July 2007: Cougar Energy Limited (ASX Code CXY) has accepted and signed
an agreement to receive $1.83 million in project funding under the Australian Government's
Advanced Electricity Storage Technologies (AEST) programme to establish Australia's first multiinstallation
demonstration project for renewable energy storage using the VRB-ESS battery system
provided to it by VRB Power Systems Inc. of Canada.
As was reported in the company’s ASX release on 3 May 2007, Cougar will apply funding to a
project located on the isolated fishing and holiday village of Windy Harbour, 200 kilometres west of
Albany in Western Australia. Project funding will ultimately involve the installation of up to 90 VRB
units at suitable sites throughout Australia over the next three years.
Cougar Energy’s grant was one of five successful funding applications, totaling $17.6 million, jointly
announced by Industry Minister, Mr Ian Macfarlane, and Environment Minister, Mr Malcolm
Turnbull.
Contact:
Dr Len Walker
Managing Director, Cougar Energy
Mob: 0419 587 396


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## CanOz (5 July 2007)

A bit of typo in the morning summary from the link on the sidebar:



> Overall this morning, the top traded stock at 10.40am was Cougar Energy, with *13.84 billion shares changing hands worth $2.1 billion*. The company's stock price rose one cent to 13.5 cents.




Etrade has the volume at about 53 million.


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## moneymajix (12 July 2007)

The cougar is doing ok today.

12c - up 14%

6.1c - up 22%


The attached article is about UCG and the recent agreement between BP and LLNL 

http://www.eurekalert.org/pub_releases/2007-07/dlnl-bal071107.php


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## Lachlan6 (12 July 2007)

(CXY) is shaping up nicely again after today's nice bounce off resistance turned now into support. I have scaled into this one at 8.4c then 10c so was hoping for a bounce. Next resistance is the highs then we will see how it goes from there. Notice the VERY small volume on the retracement compared to the strong days prior meaning those holding long term and even insto's, don't want to offload stock at these prices. A good sign for future higher prices.


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## Brinks (12 July 2007)

Hi everyone. I have been following this stock and bought in today on the break. Can anyone tell me where they think its going or can go price wise in the short term and what if any news they have which will push the price up? The buy of 2mill at 12c was exciting today! Thanks in advance Brinks


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## nizar (12 July 2007)

Lachlan6 said:


> (CXY) is shaping up nicely again after today's nice bounce off resistance turned now into support. I have scaled into this one at 8.4c then 10c so was hoping for a bounce. Next resistance is the highs then we will see how it goes from there. Notice the VERY small volume on the retracement compared to the strong days prior meaning those holding long term and even insto's, don't want to offload stock at these prices. A good sign for future higher prices.




Hi Lachlan.

Yes its looking good.
Can you or anybody else tell me why 5c december 2008 oppies are trading at 5c when the heads are 12.5c ???


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## moneymajix (23 July 2007)

Ann. 20 July 

COUGAR MAKES KEY TECHNICAL STAFF APPOINTMENTS

Cougar Energy Ltd (ASX Code – CXY) has made two key staff appointments which will ensure its
potential UCG projects will be rapidly and professionally developed.
The Company has appointed Mr Andrew Brown as General Manager – UCG Projects, working
initially from Cougar’s Melbourne office, and subsequently moving to Queensland to oversee the
progressive construction of the Kingaroy UCG project. Mr Brown is a First Class Honours
graduate in Chemical Engineering from Monash University, with a Master of Engineering Science
degree in Advanced Process Design. He has had 17 years experience with ICI Australia and
Australian Vinyls Ltd in a number of roles involving process design, commissioning and
operations. His most recent appointment was as Senior Process Engineer with Australian Vinyls,
and his design and operations experience is well suited to the development of Cougar’s UCG
projects.
Cougar Energy has also appointed Mr Garry Leblang as its Chief Geologist, responsible for all
geological aspects of the Company’s activities in Australia and overseas. Mr Leblang is a graduate
from Sydney University and has more than 35 years experience in the generation and exploration of
coal prospects, with particular emphasis on Queensland. He was involved in previous UCG
projects with Cougar’s current management, and his detailed knowledge of drilling techniques will
be of particular importance in the development of the Company’s projects.
“Our new staff members have hit the ground running and have commenced the detailed design of
the upcoming drilling programme and pilot burn layout at Kingaroy in association with the
Company’s UCG technology provider, Ergo Exergy Technologies Inc. of Canada,” Cougar Energy


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## zt3000 (6 August 2007)

06 Aug 2007 12:32 "Cougar signs MOU to develop major Pakistan power project"

This baby is going places ... shame to release this on such an off day

DYOR


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## moneymajix (6 August 2007)

Well, the options are up over 23%

I don't mind if it is today, portfolio green now!


http://www.thenews.com.pk/daily_detail.asp?id=67012


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## moneymajix (8 August 2007)

Dr Len interviewed on boardroom radio yesterday.

www.brr.com.au


very encouraging and lots of opportunities over the next 12 mths.

Worth a listen.

8.3c


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## moses (8 August 2007)

OTOH, its simply got one of the most awful SMA charts I've seen for a while, for which reason I finally gave up on this stock and sold for a loss. The only good thing that this chart indicates is how well the SP has held up during the last few days despite the pressure to sell, which (now that I've sold) might mean the SP will in fact spike up very quickly and significantly should sentiment reverse. Thats the only reason I hung on to this stock as long as I did, but as the chart got worse I've chickened out fearing an SP collapse.

I hate that sort of prediction. The price will fall, unless it goes up. 

goodluck. I hope it bounces up for you.


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## moneymajix (10 September 2007)

Options up 40% to 2.8c
Shares - 7c

10 September 2007

NEW FOCUS ON VICTORIAN BROWN COALS FOR
POTENTIAL UNDERGROUND COAL GASIFICATION

Cougar Energy Ltd (ASX Code: CXY) is to investigate the potential for applying the Underground
Coal Gasification (UCG) process to Victorian brown coal resources under a Memorandum of
Understanding (MoU) with Victoria Coal Resources Pty Ltd (“VCR”) announced today.
Cougar Energy’s ultimate goal is to use the UCG process within the vast coal fields to produce gas
for cheaper and more environmentally friendly power generation and for liquid fuel production.
VCR sees this as a means of expanding the utilisation of its coal resource.
Under the terms of the MoU, Cougar Energy will review data defining the brown coal deposits
contained within Exploration Licence 4416 (“EL 4416”), held by VCR under a farm-in agreement
with CBM Resources Pty Ltd, to determine their suitability for application of the UCG process.
EL4416 covers an area of about 1 million acres adjacent to the Latrobe Valley in Victoria, and is
estimated to contain 50-100 billion tonnes of brown coal situated under a limestone layer*.
The MoU will remain in place for one year with a 12 month extension by mutual agreement of the
parties. In the event that Cougar Energy gives notice that the potential for a UCG project exists in
Designated Areas within EL4416, the parties will form a 50:50 Joint Venture to pursue its
development.

Victorian brown coals have a high moisture content and low calorific value, and techniques for
drying the coal for later use can be expensive. Use of the coal in conventional coal-fired power
plants results in low efficiencies and high CO2 emissions per MWh of electricity generated.
The UCG process involves the in-situ conversion of coal into gas which is recovered from
production wells, and which can be used for power generation or liquid fuel production. If the
process can be applied to the brown coals and the product gas used in combined cycle power plants,
the potential exists for achieving low power costs in association with lower greenhouse gas
emissions, as well as the production of a low cost feed gas for the liquids plant.
Both Cougar Energy and VCR are excited about working together in Victoria to investigate the potential for this alternative and more efficient use of the State’s huge brown coal resource.

In accordance with the Listing Rules of the Australian Stock Exchange Limited, the information in this report relating to coal resources has been compiled by Rod Webster , who is a member of the Australasian Institute of Mining and Metallurgy, and a full-time employee of AMC Consultants. Mr Webster has relevant experience in relation to the type of deposit under consideration to qualify as a Competent Person as defined by the Australasian Code for Reporting of Minerals Resources and Reserves. Mr Webster consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
*There has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.

Dr. L.K.Walker
Managing Director


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## moneymajix (11 September 2007)

Boardroom Radio interview 


CXY - MoU Signed with VCR to Develop UCG Project in Victoria - 
Dr Len Walker, MD 


http://www.brr.com.au/event/CXY/2247/31012


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## moneymajix (4 October 2007)

*Announcement*

04 Oct 2007 13:32 !  

UCG drilling program to commence at Kingaroy Queensland  

http://www.asx.com.au/asxpdf/20071004/pdf/314yft9szzs7kh.pdf


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## YOUNG_TRADER (29 October 2007)

I have been waching CXY for a few weeks now (took a small position the other day in it)

Today's move may just be general mkt sentiment, or it maybe something in the upcoming qtrly, we'll soon know,

I'm a bit out of my depth here as I don't know too much about Coal or UCG which is CXY's main project type, although I do know the mkt responded well to MEE's UCG,

CXY appears to have 3 areas of projects, Qld, Vic and Pakistan eek: hmmm not to safe there I'd say)

Anyone else care to shed any info on it?


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## brodion (29 October 2007)

Rung the company on Friday for a general enquiry-got a nice guy who was all too happy to advise me that the company was all out trying to make things happen.Look to the "All data on the gragh".Big fall from GRACE!!

 Better days















YOUNG_TRADER said:


> I have been waching CXY for a few weeks now (took a small position the other day in it)
> 
> Today's move may just be general mkt sentiment, or it maybe something in the upcoming qtrly, we'll soon know,
> 
> ...


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## moneymajix (30 October 2007)

THE MD, Dr Len, is supposed to an expert in his field.

Looks like things are moving today.

Oversold imo.




*Moses,

Any chance of a chart?*


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## happytown (6 November 2007)

this stock is really showing interest this am, up 25%, on good volume, any ideas why this could be

cheers


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## moneymajix (6 November 2007)

Not sure.

Options were up over 60% at one stage to 5.2c. 

Now 4c, up 33%.

Now shares 9.1c, up 13.75%. High today, 10.5c.

I don't think the company has lodged its quarterley yet.


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## Sweet Synergy (6 November 2007)

happytown said:


> this stock is really showing interest this am, up 25%, on good volume, any ideas why this could be
> 
> cheers




Yep great volume today (although just had a massive down vol spike 96 down to 95 which dwarfs the rest of the sessions increments, which is bearish for the short term)  ...  take care if u are day trading ... CXY is soooo manipulated.  Just watch the props, then orders being pulled constantly, with subsequent sell offs.

From memory it was going to be years before they would would prove if the technology was going to work for their situation.


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## YOUNG_TRADER (7 November 2007)

What the?

Haven't been watching mkts for last 2 days, had sells up on CXY at 10c and CXYO at 4.5c,

I log on today and they've gone through, 

Not complaining, very happy infact, but what the hell happened to cause such a spike?

One of my fiew non-fundamental, chart based trades


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## moneymajix (7 November 2007)

Run up prior to news - has happened before.

News this morning. 

07 Nov 2007 09:49 !  New MOU signed with Ergo Exergy for UCG projects  


Also, see Speeding Ticket response today.

Way undervalued in comparison to MEE and LNC.


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## moneymajix (7 November 2007)

From the speeding ticket response which compares the market caps. of CXY and its competitors, MEE and LNC.

The Company wishes to bring to the attention of the ASX that it has two competitors in Australia in
the industry of Underground Coal Gasification (UCG), being Metex Resources Limited (ASX Code
MEE) and Linc Energy Limited (ASX Code LNC), both of whom have market capitalisation values
and share price values in excess of $100 million. Further, Cougar also notes that Metex has today
released to the ASX an announcement regarding their acquisition of 100% of Carbon Energy from
their 50% joint venture partner, CSIRO, for $2.5 million cash and 100 million shares in Metex.


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## moneymajix (8 November 2007)

www.theage.com.au 

*CSIRO pegs stake in coal technology*
Barry Fitzgerald
November 8, 2007


THE CSIRO is to become the biggest shareholder in Metex Resources, the Perth-based group that floated 14 years ago as a Victorian gold explorer but that is now developing an underground coal energy technology.

Metex is to acquire the CSIRO's half-share in their joint-venture company developing the so-called underground coal gasification (UCG) technology for $2.5 million and 100 million Metex shares, giving the CSIRO a 27 per cent (fully diluted) stake in the company.

Metex plans to build a UCG demonstration plant in Queensland's Surat Basin, with construction planned to start in January. It has an inferred coal resource of 100 million tonnes, which is estimated to contain 1000 petajoules of potentially recoverable energy.

UCG technology involves drilling bore holes from the surface to the underground coal seam and gasifying the coal in situ to produce a syngas suitable for conversion into feedstock for power generation or for conversion into liquid fuels and chemicals.

Metex shares closed steady at 38¢, valuing the group at more than $108 million.

_Another UCG group, Melbourne-based Cougar Energy_, was queried earlier in the week about the run in its share price from 5.8¢ a share on October 29 to a high of 9.6¢ on Tuesday. It said yesterday it had only two competitors in the race to be the first UCG producer in Australia — Metex and Linc Energy.

Cougar noted that both Metex and Linc had market capitalisations of more than $100 million compared with its $34 million market value. Cougar also confirmed that it had reached agreement with Ergo Exergy Technologies to use the Canadian group's UCG technology. Cougar shares closed at 8.7¢.


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## moneymajix (8 November 2007)

Boardroom Radio interview 


COUGAR ENERGY LIMITED  CXY  Thu, 08 Nov 2007 

2:45PM  CXY - New MOU signed with Ergo Exergy for UCG projects - 
Dr Len Walker, MD 


http://brr.com.au/event/CXY/2247/35453


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## kpas (14 January 2008)

Up to 7.7c (from 6.8c) on no announcement.

Not huge volume, but reasonable enough that it has caught some people's attention.

I would fully expect no one to be buying on a day like today, so for some significant positive price movement to have occurred I would dubious if there are some people out there who have more information then the common man?


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## moneymajix (14 January 2008)

This stock has a history of rising prior to news.

The options hit high this morning of 2.9c.

Currently CXYO 2.6c which is up 8.33%.


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## kpas (14 January 2008)

So a quick read of the last anny said they were resuming drilling 7 days ago - do you think this has any affect on this morning's SP action, or will they need to wait until they have done a burn off to actually know if they have something?

Excuse the ignorance, have not read much about them & not very familiar with gas process - the only thing that gained my attention was the abnormal price action on a very neg. DOW and XAO at open.


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## moneymajix (14 January 2008)

I think we may soon be getting an announcement re results of recent drilling and possible date of burn trial.


CXY - 6.8c
CXYO - 2.5c


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## razza12 (2 May 2008)

A very large rise today.. oppies up almost 50%. 
Anyone have any ideas why? The usual pump and dump or maybe on the back of LNC's recent rise


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## farout (2 May 2008)

Anything related to Underground Coal Gasification (UCG) is flying at the moment, so much media coverage & potential in these stocks. MEE (Metex Resources) should be roaring ahead on Monday when it re-opens from it's trading halt.


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## mick2006 (13 May 2008)

for all those that have followed the rise of LNC,MEE,ICN etc, check out CXY, with UCG projects in Queensland, Victoria, India, and Pakistan, they will be the next big thing in the UCG sceene. 

With a market cap only a fraction of all the other names it won't be long before the bigger boys start taking notice of CXY.

much like ICN, CXY is in discussion regarding funding of their Queensland UCG project, and any development on the funding front is likely to send the shares racing.

but the icing on the cake will be next months trial burn at their Kingaroy project, drawing attention to CXY in the race to be the next commercial producer in australia.


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## mick2006 (13 May 2008)

the following article may explain some of the interest today, it was posted on the age online last night.

with very few players currently in the sector it wouldn't surprise to CXY run much higher.


Coal gas tech could boost QLD economy
Email Print Normal font Large font May 12, 2008 - 5:02PM


The commercialisation of underground coal gasification (UCG) technology could potentially generate up to $600 million for the Queensland economy each year, according to a report from PricewaterhouseCoopers.

UCG is the process of extracting coal from the ground through its transformation into a combustible gas for power generation or as a feedstock in the production of diesel or fertilisers.

The method is not widely used and PwC said the technology, while not new, is potentially at the transition point to mainstream commercial implementation.

PwC said UCG could potentially increase global accessible coal reserves due to its ability to utilise coal resources that are otherwise considered uneconomic to mine.

The World Energy Council's 2007 Survey on Energy Resources estimates that 44 billion tonnes or 45 per cent of Australia's proven in place reserves is available for UCG extraction, PwC said.

The report estimates that a UCG industry producing equivalent to 10 per cent of the current QLD coal production could potentially contribute close to $500 million per year to the state and over $160 million per year in royalties.

Australian groups Linc Energy Ltd, *Cougar Energy Ltd *and Carbon Energy, a joint venture Metex Resources Ltd and the CSIRO, are investigating the commercialisation of UCG technology.


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## james99 (13 May 2008)

mick2006 said:


> the following article may explain some of the interest today, it was posted on the age online last night.
> 
> with very few players currently in the sector it wouldn't surprise to CXY run much higher.
> 
> ...




I suspect CXY still has a very long way to run, perhaps in very short order. Its market cap is about Au$50 mil, substantially less than Mee (cap Au$125 mil, but with further dilution of over 15% new issues already announced) which is not much further advanced practically.

Mee continues to advance and even if CXY (and they were the two referred to in the PWC report, aside from Linc of course) only achieves parity with Mee current market cap that will result in a share price for CXY of Au$.325.

If it follows the path of Mee, Linc etc then there should be several days of strong rises; it has still not reached its 52 week high of 15 and I hope will break that (easily) today.


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## springhill (13 May 2008)

Just pulled this off CXY website, that is a fair few shares on offer compared with Mee (276,000,000) and Lnc (195,000,000)
As at September 2007, the company’s ( CXY ) issued capital structure was:

Approximately 370 million fully paid shares 
10 million $0.02 (2 cent) shares partly paid to $0.001 (0.1 cents) with a call after 8 November 2007 

179 million share options that expire 31 December 2008, with a strike price of $0.05 (5 cents) 

72.5 million share options that expire 6 October 2009, with a strike price of $0.03 (3 cents)


----------



## james99 (13 May 2008)

Springhill: I think the issue is not the number of shares per se, but overall market cap vs the stage of development and other assets / liabilities. 

Mee of course is about to be further diluted by 55mil. shares (at about .20 I think is the price). It will make it an over AU$150 mil  company with the trial still to do.

So, we come back to the issue of whether CXY is good value, for its capital size and projects in the current UCG climate. I think the answer is an overwhelming yes.

Of course, it is relevant that Dr Len Walker was, and is, regarded as one of the forerunners of UCG. Further, given the composition of the company and his business experience (he was involved wih Linc Energy at the inception I think) he will quickly capitalise on the current interest (ie by making announcements; obtaining funding etc). He is just too important and experienced in the UCG industry to overlook. [IMO].

[and disclose holdings; as I did in Mee etc].


----------



## LittleMak (13 May 2008)

Whats going on with CXY's website?????  there dosen't seem to be any recent news? its all dated back in 2007.

Have they been active and productive?

Does anyone know when they plan to run any UCG GTL trials? dates or resources known?

Cheers

Mak


----------



## LittleMak (14 May 2008)

Wow it seem shard to pick who is really going to take off and be successful here (maybe they all will be)

We have Linc who has the 'so far' realized largest coal deposits for it demonstration plant and production in AUS and seems to be the best at advertising this technology to the market.

We have MEE who has teamed up with the CSIRO and supposedly has newer and better technology than linc but a much smaller realized coal deposit (possibly more to come)

And Cougar who has teamed up with the Canada's Syntroleum the world leaders in certain technology with UCG and GTL.

So if you guys had $15-$20k to invest, who would you go for? 
Maybe a dive into all them? 
Who do you see as being the best value, the possibility to out shine the most?
Basically who seems to be the top company and why?


*(disclaimer:any info is not taken a s a recommendation to buy or sell)


----------



## james99 (14 May 2008)

LittleMak said:


> Whats going on with CXY's website?????  there dosen't seem to be any recent news? its all dated back in 2007.
> 
> Have they been active and productive?
> 
> ...





Mak

As I understand it:

1. there will be an updated wesite (just as Mee did in the latter part of last year).

2. the managing director (who was involved with Linc Energy at startup) was I understand involved in a successful trial burn in 1999. He is, of course, Cambridge educated, a matter giving him some UK credibility.

3. there is, I suspect, a need to secure funding for a plant (a matter made much more simple given Mee's funding and the PWC report etc, not to mention the Aust. gov. carbon policy and overseas interst).

4. my suspicion is that given that the technology works, CXY will not have a trial plant, but instead seek to built a full scale plant (eg as foreshadowed in Pakistan).

5. yes CXY has been active, in Au and the UK. 

As for your subsequent question, I think in percentage terms from its cap of $50 mil and curent SP of .13, CXY will gain a greater percentage than Mee, in the short term (it will not take much good news for CXY to re-rate; whereas a hiccup for Mee in the trial process could set it back briefly), then it will depend on each company's success, but think both CXY and Mee have very good prospects (as do a couple of others). I have provided reasons in previous posts.


----------



## james99 (14 May 2008)

LittleMak said:


> Whats going on with CXY's website?????  there dosen't seem to be any recent news? its all dated back in 2007.
> 
> Have they been active and productive?
> 
> ...





Mak

As I understand it:

1. there will be an updated wesite (just as Mee did in the latter part of last year).

2. the managing director (who was involved with Linc Energy at startup) was I understand involved in a successful trial burn in 1999. He is, of course, Cambridge educated, a matter giving him some UK credibility.

3. there is, I suspect, a need to secure funding for a plant (a matter made much more simple given Mee's funding and the PWC report etc, not to mention the Aust. gov. carbon policy and overseas interst).

4. my suspicion is that given that the technology works, CXY will not have a trial plant, but instead seek to build a full scale plant (eg as foreshadowed in Pakistan).

5. yes CXY has been active, in Au and the UK. 

As for your subsequent question, I think in percentage terms from its cap of $50 mil and curent SP of .13, CXY will gain a greater percentage than Mee, in the short term (it will not take much good news for CXY to re-rate; whereas a hiccup for Mee in the trial process could set it back briefly), then it will depend on each company's success, but think both CXY and Mee have very good prospects (as do a couple of others). I have provided reasons in previous posts.


----------



## LittleMak (14 May 2008)

Thanks for your response James, thats very interesting indeed. 

I will be keeping an eye on these guys awaiting more news, ready to pounce.


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## motorway (14 May 2008)

The large pattern defined by the  larger objective

In a particular style of P&F is a "Fulcrum" pattern
of a type called 

Duplex Horizontal

The left side is a well defined "base"
With price activity generating little volume

That lack of volume speaks ( on occasion ) volumes.. 

Accumulation finds little to accumulate
or in a truer sense , little company ...

The left and right side are separated by a 

"Mid Pattern Rally "

Of trading range amplitude...

On the Right side We have a (huge) jump in volume , in participation.
aggressive accumulation and the "noise" of short term traders
( short term compared to those active in the earlier phase and still ? accumulating)

The stock is gathering a following

Short term trader behavior sets up
patterns of an expanding pattern ( cobweb )

Their own noise feeds back 
and causes herding and gapping

Whip sawing..

However , the liquidity generated
acts like a conveyor belt
speeding up time
( transaction & volume, speed )

laggard traders particularly
buy on the bulges
and transfer stock back down.

They help build support
and clear the way for mark up.

We see 
Huge ( relative ) Volume activity along the .09 "line"

A Successful Test, here 
and it would suggest
Accumulation is in a more aggressive phase still.

Then I would anticipate 
a good move


I hold

DYOR

motorway


----------



## moneymajix (14 May 2008)

Thanks, motorway.

Sp. is still under all time high.

This seems very cheap compared to a share like LNC (near $3).


----------



## james99 (17 May 2008)

It is maintaining excellent volume and appears to be testing an upward move. If Mee and Linc are examples, such a move, if and when it happens, could be swift. The oil price in the US spot overnight, testing US$128 but then easing slightly, coupled with analyst reports that oil is espected to spike higher, can only help.

One of the advantages that CXY and MEE have (aside of course from being in the UCG sector generally) is that they are the only two mentioned (aside from Linc Energy) in the PWC report commissioned by Linc. Linc continues to tout itself and that report in the USA and there must be a good chance that at least some of those who read it will also wish to take a share in CXY and MEE. In short, Linc is doing them no end of favour with its international roadshow.


----------



## mick2006 (19 May 2008)

Further excellent news out of the UCG sector this morning with MEE having an over subscribed placement to help develop/test their UCG project, goes to show that there is plenty of money willing to invest in this new clean coal technology.

CXY is likely to be the next company to significantly benefit from the surge of interest in UCG projects with the company already in discussions to arrange funding for their Kingaroy UCG project.  And judging by the reaction to both MEE and LNC recently any positive funding news will send CXY running hard.

CXY will also benefit by having exposure to not only Australia but the massive reserves of both India/Pakistan.


----------



## redback (19 May 2008)

This is starting to see some very good support now after the pull back last week, over to you Dr Len--say something--anything.


----------



## mick2006 (19 May 2008)

Earlier today I fired an email off to Len to try and find out the timeline involved with the trial burn.  Will let everyone know what I find out.

Must say though the funding agreements arranged by LNC and MEE recently will certainly help CXY in negotiations, as it shows there is plenty of money that wants to find a home in the UCG space.


----------



## redback (19 May 2008)

It should find plenty of support in this sector, not too many others advanced as the top three, looks like someone is expending a lot of time and energy trying to hold it back today though.


----------



## mick2006 (19 May 2008)

Well just received a response from Len Walker and for obvious reasons he couldn't give too much away, but he was able to confirm CXY are in advanced negotiations for funding for their Kingaroy UCG project, this is significant once the funding is arranged the shareprice is likely to undergo a significant re-rating much like MEE has recently.


----------



## Dukey (19 May 2008)

bought some CXYO last week after a little research on Cougar and Len Walker - who was involved in Linc from the early days and his continued involvement with the canadian company Ergo who were part of the original Chinchilla trial done by Linc when Mr waker was still with them.

The results of that trial make interesting reading - and are on cougars website here: http://www.cougarenergy.com.au/PDF/2001_gasification_conf.pdf (just in case anybody isn't already aware of that - note the 'Linc Energy' name on the cover!!!)

... on a side note - it would be very interesting to know the story behind the split between Linc and walker/ergo which seems to have happened sometime after the trial was successfully completed?!  Any ideas there folks?...james?...mick?...

Anyway - great sector to be in and with the experience CXY holds, I expect a bright future, along with LNC and MEE.

g'luck all - Dukey.


----------



## mick2006 (19 May 2008)

another massive volume day for CXY today, with the shareprice blowing through previous resistance at 15c to hit a day high of 15.5c before a bit of a late day bout of profit taking.  

Judging by the continued buying above 14c today this may become the new support level for the next run higher.

As I posted earlier I had discussions with Len Walker today in regards the funding for the Kingaroy UCG project, although keeping things close to his chest he revealed that CXY was in advanced discussions and to keep an eye out for an ASX announcement detailing the completion of negotiations.  So by the sounds of it we won't have to wait long now.

It was also very positive to see MEE have an oversubscribed rights issue announced today, which goes to show that there is plenty of money wanting to invest in UCG development. 

Where CXY has a wildcard over LNC and MEE is the joint ventures in India and Pakistan with both countries needing huge increases in power generation and also have large coal deposits available for UCG projects.

Using MEE and ICN as examples it looks like CXY has consolidated recent gains and is looking to head higher, and with funding/trial burn news on the way it might not be long before we hit 20c+


----------



## LittleMak (19 May 2008)

Just wondering if anyone knows if there is a connection between CXY's - Mr Len *Walker* and MEE's MD- Ian William *Walker* ? Brothers/cousins perhaps?


----------



## Djayness (19 May 2008)

Just the same person leading a double life 

Or maybe a coincidence? pretty big coincidence if you ask me lol


----------



## mick2006 (20 May 2008)

Not sure about the two Walkers being related but i'm certainly very happy having Len running CXY, given his vast experience in the UCG sector.

Interesting to see all the sell depth at 14-14.5c has been pulled overnight, might have seen the classic cap/accumulate going on yesterday arvo and if the brakes are released it might go on a bit of a run today,


----------



## redback (20 May 2008)

Oh Dear,
They were props after all, hidden sells coming out now, disappointing games going on here, these 500k players are at it again by the looks


----------



## mick2006 (20 May 2008)

I think it just a consolidation day for CXY today, looks like ICN is catching the headlines in the coal seem sector today.

with the trial burn/news of the funding package for development of Kingaroy just around the corner CXY will build up momentum again, if anything it is easier to accumulate on days like today.


----------



## desolator (20 May 2008)

redback said:


> Oh Dear,
> They were props after all, hidden sells coming out now, disappointing games going on here, these 500k players are at it again by the looks





wow.. this sucks.. we had good market depth this morning as well... i hate how this can happen!  will just have to see how it goes. another chance to top up maybe.


----------



## redback (20 May 2008)

This trading could of course be deliberate, it is certainly being manipulated, one of the scenario's could be to prop the price for the coming placement, maybe to one of it's partners, there looks to be one or two large players involved, or to keep the price around these levels for at least 5 trading days, which would be quite reasonable a price to management, considering the recent past weak SP performance.


----------



## redback (20 May 2008)

Woops, there's your sellers, appendix 3B, 3.6 million oppies converted, probably got them on the lows--making a motza


----------



## mick2006 (20 May 2008)

Another positive UCG related in the courier mail today, looks like CXY will benefit long term by all the hard work done by LNC to promote the sector, as they get a mention now in every UCG article.

Below is the link to the article.

http://www.lincenergy.com.au/pdf/coverage-63.pdf


----------



## DavidB1 (20 May 2008)

i got in to cxy today 85000@ .135 and mee 27000@ .48 

mee is up about 200% from the start of may 
and cxy is only up about 120% does that mean that cxy has 80% more to go up ?


----------



## farout (20 May 2008)

I'm sure there are some pro-CXY'ers that disagree, however I believe Metex has a much greater vision than Cougar, it is my pick out of the current UCG bunch. Bluntly, Dr Len is getting on in age and you can't plan the future of a company when your own future is limited. In my opinion the directors are not looking at the sky as the limit, more focusing their attention on smaller projects. I am happy to be proven wrong, I was holding CXY up until recently.

I think you will find that Metex has risen about 100% in May, not 200%. I picked it for the stock competition. LNC should be worth a look again in a few weeks.


----------



## DavidB1 (20 May 2008)

sorry it 200% from april 

http://au.finance.yahoo.com/q/bc?t=3m&s=MEE.AX&l=on&z=m&q=l&c=&c=^AORD

http://au.finance.yahoo.com/q/bc?t=3m&s=CXY.AX&l=on&z=m&q=l&c=&c=^AORD


----------



## redback (21 May 2008)

" Bluntly, Dr Len is getting on in age and you can't plan the future of a company when your own future is limited."

That will be of no concern, the partnerships now being developed with much larger companys will bring along with them similar management team skills which will be required as the company ramps up.


----------



## mick2006 (21 May 2008)

very strong bounce off the early morning low, volume starting to build, could it be some profit takers from fellow coal seam players MEE,ICN making there way back into CXY.  

There seems to be a fair bit of rotation going on in the sector at the money with plenty of money trying to find a home.


----------



## redback (21 May 2008)

Today's trading started showing some real interest, pity about those two fleas operating, what is their agenda?, adding 1 mill at 15c eod another putting up a single 2 mill sale at 20c, these people are ridiculous


----------



## redback (22 May 2008)

I see one of the fleas is in action at 16.5c now chucking another 1 million on the end again, what is in his mind?, looks desperate to hold it back, should be reported to ASX, he is dodgy as


----------



## Dukey (22 May 2008)

redback said:


> Today's trading started showing some real interest, pity about those two fleas operating, what is their agenda?, adding 1 mill at 15c eod another putting up a single 2 mill sale at 20c, these people are ridiculous






redback said:


> I see one of the fleas is in action at 16.5c now chucking another 1 million on the end again, what is in his mind?, looks desperate to hold it back, should be reported to ASX, he is dodgy as




Why are they ridiculous or dodgy? ... just because they want to sell?   ... thats the way it works, and we have no idea what price they bought at or who they are. Maybe they have morgages to pay off (or alimony!!). Then again maybe just traders doing their thing.  
I can tell you that IF I had bought heaps of cxy or cxyo a month ago,  I'd be taking some profits just to cover my ass after 200% rise!!   .... unfortunately I didn't - I only bought some cxyo last week.

- my  - dukey


----------



## redback (22 May 2008)

I bet that capper didn't expect to get taken out in nearly one hit--serves the sucker right, now where's his mate?


----------



## Red Fatboy (22 May 2008)

Got in yesterday at 13.5 after watching from the sideline for a while. All looks very promising. Next few weeks (or months)  should be interesting.               .


----------



## desolator (22 May 2008)

yay was trading at .175 for awhile today, lookn good and everything..  but is anyone else getting a bit frustrated with their lack of information, and poorly neglectled website?


----------



## james99 (22 May 2008)

Desolator, closed up 18% at 16.5; and the web site etc will be cured soon I suspect, and I suspect funding may also be achieved


----------



## Dukey (22 May 2008)

james99 said:


> Desolator, closed up 18% at 16.5; and the web site etc will be cured soon I suspect, and I suspect funding may also be achieved




Actually - I quite like the CXY website - sure it needs to be updated - especially recent news - but there is some good detailed info on technology and processes that I havn't seen on other sites.  It's not as flashy - but thats fine by me.
functional is good.
pazzaz just wastes my time and bandwidth.
-d


----------



## Djayness (22 May 2008)

yeah you would think that with all the money they can raise from share releases theyd at least afford an admin and website 

Oh well, as long as the sp is going skyward :


----------



## LittleMak (22 May 2008)

Can someone please explain the recent appendix 3B announcements from cxy?

What is going on? and is it good or bad for the share price? 

Thanks in advance


----------



## motorway (22 May 2008)

For a number of reasons

I view this as a very strong chart pattern

( just look at it ! )

looking very good imo

motorway


----------



## redback (22 May 2008)

LittleMak said:


> Can someone please explain the recent appendix 3B announcements from cxy?
> 
> What is going on? and is it good or bad for the share price?
> 
> Thanks in advance



Obviously it it people cashing out from their recent 1c or so option purchase's, they have made a fortune in only two weeks


----------



## redback (22 May 2008)

redback said:


> Obviously it it people cashing out from their recent 1c or so option purchase's, they have made a fortune in only two weeks




ps.--only another 190 million 5c options to go---AIYEEEEEEE, either this stock gets substantial support real soon or it's curtains as they convert in their zillions


----------



## LittleMak (22 May 2008)

What do you mean, curtains as they convert into their zillions? can you please explain. Do you mean the share price will fall substancially?


----------



## redback (23 May 2008)

well, there is 190 million 5c options expiring in the next few months, (lovely for some)  Dec 08 I think, expect a big push by very interested interests to make sure they are converted to cash


----------



## james99 (23 May 2008)

Redback: I appreciate the issue, but on a comparative basis with Mee even with both companies' options fully exercised CXY can sustain a very substantial SP increase.

There will of course be profit takers, but the real issue is when there is an updated website / funding  or JV etc. I remain optimistic (and a buyer and holder).


----------



## Dukey (23 May 2008)

redback said:


> well, there is 190 million 5c options expiring in the next few months, (lovely for some)  Dec 08 I think, expect a big push by very interested interests to make sure they are converted to cash




... and these 190M options...  will they not provide $9.6M dollars of funding for CXY when converted at 5c??????

redback mate - it seems to me having seen a few of your posts on this and other threads that you are ASF's equivalent of a 'radio shock jock'.  .... You just say S#it to get a reaction...  
... bet you've heard that few times
...this stuff belongs elsewhere IMHO. try hotcopper.

-dukey


----------



## mick2006 (23 May 2008)

another large chunk of options exercised, the third lot this week, not sure what to make of it, doesn't look like they are exercising the options and selling them as the shareprice is continuing to move higher.

VWAP sitting at 18.7c this morning.


----------



## redback (23 May 2008)

As a shareholder I am only commenting on what I see occuring, nothing more, I too think this stocks time has come, here's hoping anyway. I think we can expect a series of announcements shortly


----------



## mick2006 (23 May 2008)

well CXY has just hit 21c, it has been a case of relentless buying since wednesday afternoon.  

very positive signs with volume increasing as we head towards the weekend.


----------



## mick2006 (23 May 2008)

massive buying again today in CXY, no one can doubt that the coal seam gas sector is hot at the moment, looks like investors are starting to pile into some of the smaller plays like CXY and GLX which also saw significant gains today.


----------



## Wilson! (23 May 2008)

I bought today mick, very happy with this little co and think it will continue upwards 
Big buys today, very little ones, most were between $10k and $35K with many larger ones too - a good sign


----------



## Djayness (23 May 2008)

Yeah I was looking at GLX today, not to sure about the company as of yet (not that its bad, I just havent had the chance to look into it.).

CXY another positive gain, alot of people are waiting for some new announcements but the share price is going up purely on potential.


----------



## motorway (24 May 2008)

A huge accumulation base building for much higher prices..
or a traders utopia ( is that the same as an investors nightmare  )...


answer next week  maybe 

motorway


----------



## mick2006 (24 May 2008)

looks like there was an article in the weekend Australian Financial Review today talking about the coal to liquid sector and how investors and starting to sit up and take notice with companies like GLX,LNC,MEE getting mentions.

certainly positive for a small company like GLX, where any increase in exposure is desired.


----------



## alanding (26 May 2008)

Trade halt on this moring.
does anyone here knows the reason?
hopefully, millions $$$ from government.


----------



## unit (26 May 2008)

Request for Trading Halt
Melbourne, 26th May 2008: Cougar Energy Limited (ASX Code CXY) requests a trading halt in its
securities effective immediately pending an announcement from the company regarding an equity
raising.
The Company requests the trading halt until the announcement is released, subject to the limit
imposed by the Chapter 17 of the ASX listing rules.
The Company is not aware of any reason why the trading halt should not be granted.
If you have any queries in relation to this matter, please contact Dr Len Walker, Managing Director,
Cougar Energy on mobile no. 0419 587 396


----------



## mick2006 (26 May 2008)

we all were expecting the placement to help funding for the Kingaroy UCG project, will be interesting to see what the company comes up with, hopefully they will attract some larger institutional holders/company's.


----------



## Djayness (26 May 2008)

wow thats awesome, he even gave his mobile number lol

In any case, trading halts are somewhat annoying. Financing announcements arent too bad, I'm hoping that it will be oversubscribed.


----------



## WindriderAU (28 May 2008)

I was under the impression that they could halt trading for 48 hours then have to apply for an extension. No extension has been mentioned yet, so I thought that it should open for trading today. Anyone know anything else yet?


----------



## desolator (28 May 2008)

like-wise. no announcment stating otherwise yet? feeling a bit nervous as to what will happen when trading begins


----------



## alanding (28 May 2008)

suspension due to "proposed equity raising by Thursday 29th May 2008"
still need to wait. be pantient


----------



## WindriderAU (28 May 2008)

CXY has requested a suspension of trading whilst waiting for a decision on equity raising. New announcement on ASX today.


----------



## blehgg (29 May 2008)

Hey does anyone use Comsecc??

Is there no trading depth on this stock?? =="

Strange I see no buyer/seller box... =="

errr wt..


----------



## jonojpsg (29 May 2008)

blehgg said:


> Hey does anyone use Comsecc??
> 
> Is there no trading depth on this stock?? =="
> 
> ...




On ProTrader the buy depth is 9.1 million and sell depth is 4.8 million.  At the moment, the interim opening price will be 21.5c


----------



## alankew (29 May 2008)

I think all depth,buys and sells are cleared when a share is in suspension,hopefully someone will back me up


----------



## blehgg (29 May 2008)

jonojpsg said:


> On ProTrader the buy depth is 9.1 million and sell depth is 4.8 million.  At the moment, the interim opening price will be 21.5c




Oh "phew...." thought it went into a "onetel" state ==" 

MAJOR STRESS lol

Thanks for the update. ~ so it hasnt changed since yesterday 

edit - *crap - my orders have gone too*


----------



## stock_dexter (29 May 2008)

That's right. A trading halt still allows the publishing of the bid/ask while a trading suspension (voluntary in Cougar's case) means that nothing is published except the last trade price.

Makes your portfolio analysis on Comsec look really bad as it treats the stock as having a ZERO price!


----------



## blehgg (29 May 2008)

Announcements are out!! 

Relief ==" lol

The placement was over-subscribed, and was arranged byMelbourne Capital Limited to sophisticated and professional investors under the 15% placementlimit.



> Cougar Energy Ltd (ASX Code: CXY) is pleased to advise that it has received commitments for theplacement of 50 million shares at a price of 14 cents per share, raising a total of $7.0m before costsassociated with the placement. The placement was over-subscribed, and was arranged byMelbourne Capital Limited to sophisticated and professional investors under the 15% placementlimit. The Company welcomes a number of new institutional investors to the Share Register.
> 
> The funds raised will be used primarily to advance Cougar Energy’s Underground Coal Gasification (UCG) project near Kingaroy in Queensland, including the development of a 400MW power station using UCG gas as the fuel.


----------



## Dukey (29 May 2008)

Great announcement IMO...
# $7M cash  from this Cap Raising
# plus a further $9M expected from conversion of those options before Dec 08.
# good forward plan for well installation; pilot burn and plant etc.
# Also advancing the 50:50 JV with Vic Coal Res. - which could be very big for CXY...

Suspension lifted - but  no trades yet... eagerly awaiting...


----------



## Djayness (29 May 2008)

Huge announcement IMO, its in PRE_NR atm, so just waiting for it to open up. I just put an order in for 20 cents but looking at the starting bids, theres very little to no chance that ill actually get it!


----------



## Dukey (29 May 2008)

... and she opens down 2 c !!!!
- just goes to prove how crazy the share market can be ...

not to worry - I'm not going anywhere!! 

looks like a few sellers to clear out up to 20c - not so many sellers after then.

g'luck all - dukey.


----------



## blehgg (29 May 2008)

Dukey said:


> ... and she opens down 2 c !!!!
> - just goes to prove how crazy the share market can be ...
> 
> not to worry - I'm not going anywhere!!
> ...




lol dropped down to 16c at one stage  ~ wish i got my parcel then 

still a pickup at 17c is aweomsee ~ 

gogoogogooo


----------



## desolator (29 May 2008)

blehgg said:


> lol dropped down to 16c at one stage  ~ wish i got my parcel then
> 
> still a pickup at 17c is aweomsee ~
> 
> gogoogogooo




picked up more at 18.5 myself. but lol.. atm im worse off because of this announcement.. was this not GOOD news.. did i miss somethiong or are their just way to many fools out their?

can some1 tell me what the market depth is in a bit more detail.. seems these web based trading systems are gay.. i cant get it to come up ARGH!


----------



## Dukey (29 May 2008)

Here's a screenshot for the moment.

but remember - there may always be orders coming in 'at market' which are processed pretty much immediately - you won't see them on the depth figures.  

- I'm outa here for today anyway... gotta apply for a real job!!

CXY has a way to run IMO - whether it goes today or tomorrow or next week  doesn't matter...
-D.


----------



## WindriderAU (29 May 2008)

Bought my parcel at 18c. Very pleased, 14c would have been nicer though. 

How does one subscribe to the new shares considering it was oversubscribed anyway?

Thanks


----------



## Djayness (29 May 2008)

From the announcement it looked like it was privately raised, not open to the public. The initial down fall reaction was probably to the 14 cents those shares were issued at even though the sp was at 20. Not to worry though,

Got in at 18 cents which is quite reasonable, heading north from here surely. The announcement of the powerplant and trial burns is a real plus, confirmed direction is always positive.


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## james99 (29 May 2008)

Hello. I do not think the slightly lower price is anything other than the effect on all UCG / oil stocks of a decrease in the spot and future price of oil  - currently 130.18 barrel, so off last weeks 136 high by a bit.

However, the most important matter for these asset classes is that AMB Amro, ING, Merril etc have all substantially increased their expected average oil prices. See link below for a (not very in depth but useful) view.

If (when) oil and gas spike up again, all oil / UGC sectors should do very well. Eg, look at the significant spikes of SSN, STU, MEE with the 1.36 bl price of mid-last week. Even if there are no spikes, the effect of the increase in average prices is to make UGC commercial viable, and oil produers more profitable.

CXY is now in a position that is more akin to Mee (but without the cornerstone investor unless there is one as a result of the most recent subscription). It should, IMO, be rerated. I disclose holdings.

http://www.theglobeandmail.com:80/servlet/story/LAC.20080528.RPARKINSON28/TPStory/Business


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## desolator (29 May 2008)

its a bit mind boggleing to me to think that people are picking up parcels at .165c  .. i mean the shares issued to investers was at .14c .. good opportunity to buy  .. i got no doubt things will bounce back up. still sucks tho to see ur cash value twindle down when ur a relativly new invester!  good times ahead but. good luck to every1.  e-trade is very lame.. ever since relisting its being impossible to see market depth. greatttttt job.... time to continue pulling my hair out..


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## blehgg (29 May 2008)

Managed to grab some more this arvo at 16.5

 ~ scrapping the bottom of the barrel lol

Good luck all ~ Wohoo - bounced back to 180  Yai for me

Think the day traders have hopped out for the day and its back to where it should be

69 buyers for 7,944,379 units 	
41 sellers for 3,854,359 units

Some decent volumes through today - 13,970,886


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## redback (29 May 2008)

It's pretty disappointing to see Walker has yet again gone back to his mates for funding, the amount raised certainly did not warrant a three day suspension and will only prove a stop gap measure, just be careful with these people, they were the ones responsible last time for all the manipulative propping and dumping, I thought I saw their modus operandi on show late today


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## Djayness (29 May 2008)

redback said:


> It's pretty disappointing to see Walker has yet again gone back to his mates for funding, the amount raised certainly did not warrant a three day suspension and will only prove a stop gap measure, just be careful with these people, they were the ones responsible last time for all the manipulative propping and dumping, I thought I saw their modus operandi on show late today




Man, you are such a joke. Every thread youre just talking trash without any sources, any legitimacy at all. If you have anything productive to add, then by all means lets hear it.


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## redback (29 May 2008)

Djayness said:


> Man, you are such a joke. Every thread youre just talking trash without any sources, any legitimacy at all. If you have anything productive to add, then by all means lets hear it.




That my friend is no trash, these people were involved in the last cap raising and were found responsible for the stock dumping at that time, one of the main guys dumped over 6 million just above the issue price, I have been on and off the CXY register quite a few times, so I witnessed it all at the time, and unlike some I didn't come down in the last shower


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## james99 (29 May 2008)

I think we are missing the point just a bit. At present, the company is
1. well funded;
2. headed by a person with good industry specific knowledge;
3. well resourced (ie coal);
4. in a sector of high interest;
5. likely to benefit from that interest and high oil prices;
6. substantally cheaper, from a cap basis, than Mee and Lnc;
7. in the position of having good MOU (eg Pakistan);
8. pursuing an ambitious plant (40MW).
It seems, in my view, highly likely that it will increase, and very significantly, even if there is the usual profit taking on the way, including by sophisticated investors seeking short term gain.

I disclose holdings.


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## LittleMak (29 May 2008)

james99 said:


> I think we are missing the point just a bit. At present, the company is
> 1. well funded;
> 2. headed by a person with good industry specific knowledge;
> 3. well resourced (ie coal);
> ...




Hi James,

Q3. well resourced (ie coal). Do you know what indicated resources they have a Kingaroy? how long will this power plant run for?

Q8. Can you describe (basically) what 40MW means?

cheers

LittleMak


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## james99 (29 May 2008)

Mak:

1. Kingaroy has not yet been the subject of a JORC compliant rating (that is, I think, being persued at present), so I am reluctant to place a figure online until it is done. I am referring to total resources (incluing overseas) and for the purposes of its current goal, rather than a set figure. However, Kingaroy has had some drilling, good coal seams of good width have been located and it has been confirmed as suitable for UCG. It is, therefore, suitable for the pilot.

2. MW is a unit of electicity. Perhaps as an indication, most US nuclear plants produce 400 - 1200 MW; large scale solar plants produce about 5 MW. The actual goal of Kingaroy is a 400 MW plant, so that is a large power plant. I am in NZ but, to give an Au example, Origin Energy's proposed Queensland plant is 630mw (Darling Downs, and should power 400,000 homes). In other words, it would make CXY a significant energy producer.

3. You will infer that those UCG producers that do best will have fields placed next to energy consumers or (if there is to be gas or liquid sold rather than used for generation) next to good transport.

Hope this helps.


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## LittleMak (29 May 2008)

Ahh Haa, cheers James.

So a 400MW power plant seems pretty impressive. This Power station along with other JV's and coal deposits could see power stations popping up everywhere. Including OS. nice!


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## njc.corp (29 May 2008)

redback said:


> It's pretty disappointing to see Walker has yet again gone back to his mates for funding, the amount raised certainly did not warrant a three day suspension and will only prove a stop gap measure, just be careful with these people, they were the ones responsible last time for all the manipulative propping and dumping, I thought I saw their modus operandi on show late today




if this is not the right place to ask-in advance i am sorry-

redback could u go into detail about walker and his mates-what have they done now and in the past-

give me some soild facts and if u could go into detail-

Thanks in advance-

Nick--


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## redback (31 May 2008)

njc.corp said:


> if this is not the right place to ask-in advance i am sorry-
> 
> redback could u go into detail about walker and his mates-what have they done now and in the past-
> 
> ...




These mystery men (try looking up Melbourne Capital) are Walkers only avenue for finance, they were responsible for the last dump just over their last costs, couple this with the insidious continual excercising of 5C 08 options, as the great man himself said--various institutions have now come onboard, this is absolute nonsense, ask him who exactly--there is no institution involved, only scalpers as usual, beware


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## jaster (1 June 2008)

Texas UCG Conference 16 & 17th July 2008 

Len Walker Managing Director of Cougar Energy Ltd will be presenting on :- Progress In Underground Coal Gasification In Australia

Over the past year significant progress on UCG projects has been made in Australia with three companies listed on the Australian Stock Exchange actively pursuing project development at different sites in Queensland.

Cougar Energy has completed resource definition at its Kingaroy site and is undertaking final site characterization prior to commencing the pilot burn for a 400MW combined cycle power project. The presentation describes progress on this and other projects being undertaken by the company and the range of geological conditions confronting application of UCG technology. 

Further information can be found on the following web site which has a wealth of information and is well worth a look.

www.syngasrefiner.com


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## Shadex (1 June 2008)

Hmmm thats rather interesting, this could do good things to the share price in the near future. Good find jaster


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## redback (1 June 2008)

Quite an interesting synopsis of the various companys involved, market caps-tonnages-etc given on HC, also some very optimistic attempts at tonnage re M3 density of coal, some going as high as 1.4tonnes per m3, more likely closer to 850kg per tonne which makes these guys estimates wildly optimistic, CXY looks to have about 60m tonnes total, wonder what the final recovery is?, probably about 40% of total resources


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## james99 (2 June 2008)

Redback: If you are to comment re resources and comparatives, can you please provide details of the:

1. compararison companies;
2. their and CXY's resources;
3. whether they are proven, inferred, probable etc;
4. the type, eg coal, coking coal, suitable for UGC;

etc


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## Dukey (2 June 2008)

redback said:


> That my friend is no trash, these people were involved in the last cap raising and were found responsible for the stock dumping at that time, one of the main guys dumped over 6 million just above the issue price, I have been on and off the CXY register quite a few times, so I witnessed it all at the time, and unlike some I didn't come down in the last shower






redback said:


> These mystery men (try looking up Melbourne Capital) are Walkers only avenue for finance, they were responsible for the last dump just over their last costs, couple this with the insidious continual excercising of 5C 08 options, as the great man himself said--various institutions have now come onboard, this is absolute nonsense, ask him who exactly--there is no institution involved, only scalpers as usual, beware




OK - Redback... since you 'didn't come down in the last shower' and you've been on the CXY register a few times and you obviously know everything there is to know about them  ...  how about you fill us in on all the gory details of the serious manipulations you allege.

Names of people involved and dates please.

While you are at it can you answer a few questions like:
1. please disclose your current interest in CXY. (shares; options; cfd's)
2. If you believe your allegations are true - then why the hell would you trust them with your money??
3. Or ... are you trash-posting and downramping for your own profit??

-------------
As I have stated before - I hold CXYO


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## redback (2 June 2008)

I was merely commenting on a comparison spreadsheet someone posted on HC on the w/end, just google coal density m3, even the hardiest of supporters is voicing some concerns re-the supposed institutions on board, which of course there isn't--only opportunists--from hc--
"One explanation is the poor quality of the Melbourne Capitals Investors who took the 14 cent placement. Probably selling previously held stock to pay for 14 cent stock.

Suppose that will be temporary but makes for CXY looking sick when it clearly isn't.

Anyone else think Melbourne CApital to blame? Having AF as MD and also second? largest shareholder in CXY must be a conflict of interest at minimum. Does it meet Code Standards?"


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## james99 (2 June 2008)

redback said:


> I was merely commenting on a comparison spreadsheet someone posted on HC on the w/end, just google coal density m3, even the hardiest of supporters is voicing some concerns re-the supposed institutions on board, which of course there isn't--only opportunists--from hc--
> "One explanation is the poor quality of the Melbourne Capitals Investors who took the 14 cent placement. Probably selling previously held stock to pay for 14 cent stock.
> 
> Suppose that will be temporary but makes for CXY looking sick when it clearly isn't.
> ...





Redback: Despite the criticism of .14c, that was IMO surprisingly high, given that only a week prior (when discussions would have been finalised) the price was lower and, of course, the 4 week low is 7.9. I think, therefore, it was a good price and I have no doubt there will be profit takes, both old and new investors. That said, CXY is still good value (for reasons I have already posted) compared to several others, and all we are seeing IMO is a temporary cap rather than any shift away from rerating. 

Seminars in UK and USA, progress on the ground and a growth sector. All good. (and I am far from sure of your HC info re reserves, the JORC announcment is expected this quarter but it is difficult see why there would be  proposed 400mw site if there was insufficient coal. It would be madness and Cougar is not made. Even if there is an element of "helping freinds" the best way to do that (and Len himself given his very substantal stake) is to rerate this into a 160 - 400 mil cap equivalent.)


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## Dukey (2 June 2008)

redback said:


> I was merely commenting on a comparison spreadsheet someone posted on HC on the w/end, just google coal density m3, even the hardiest of supporters is voicing some concerns re-the supposed institutions on board, which of course there isn't--only opportunists--from hc--
> "One explanation is the poor quality of the Melbourne Capitals Investors who took the 14 cent placement. Probably selling previously held stock to pay for 14 cent stock.
> 
> Suppose that will be temporary but makes for CXY looking sick when it clearly isn't.
> ...




So basically you're just spitting out second hand garbage from HC....

Who  is AF???  Can't find an 'AF' anywhere.  substantiate your claims... or DON'T make them!!!!!!!!!!!!

Len Walker is the MD last I knew.


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## prawn_86 (2 June 2008)

Redback,

If you do not begin backing up your post with YOUR OWN RESEARCH they will be removed and infractions issued.

Do not quote or refer to other forums as a source of information.

thanks

Prawn


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## redback (2 June 2008)

prawn_86 said:


> Redback,
> 
> If you do not begin backing up your post with YOUR OWN RESEARCH they will be removed and infractions issued.
> 
> ...




Yes, feel free to do so, they were merely observations of others views, I will not post on this subject again as it seems any other views other than wildly optimistic are not tolerated on this thread.
Regards.


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## prawn_86 (2 June 2008)

Any views and opinions are allowed Redback. However they must be backed up with facts and research, not just something that someone else has said on a different forum.

It is obvious by your lack of intent to post again that you are not willing to do a bit of research, and hence were downramping the stock, with no substantial evidence


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## redback (2 June 2008)

prawn_86 said:


> Any views and opinions are allowed Redback. However they must be backed up with facts and research, not just something that someone else has said on a different forum.
> 
> It is obvious by your lack of intent to post again that you are not willing to do a bit of research, and hence were downramping the stock, with no substantial evidence




I originally held this stock since the 4c days and have witnessed the behaviour of these financiers before, and have a fair understanding of the history of this stock, downramping dosen't come into it, there is no point, however this will be my last comment , which should please many here


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## blehgg (2 June 2008)

redback said:


> I originally held this stock since the 4c days and have witnessed the behaviour of these financiers before, and have a fair understanding of the history of this stock, downramping dosen't come into it, there is no point, however this will be my last comment , which should please many here




Wow, you're making it sound like everyones attacking you....

All they requested for was a little backing/evidance from your comments.

Noone is saying they don't accept other views pro or against... they just want some research....

Could you use full references instead of HC/AF or at least links to the sources?

(I'm kinda new here - What's HC??)


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## james99 (2 June 2008)

HC = Hot copper. The difficulty with citing another share chat site is that the informaton is at least 2nd, if not third, hand.


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## LittleMak (2 June 2008)

Interesting...... not quite sure what to make of this??????  It seems there wont be a trial burn for some 3-6 months. No major power plant for some years yet!!!  Why is Len so secretive with his JORC reserves? 

http://www.brr.com.au/asx/CXY


Comments anyone?


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## james99 (2 June 2008)

Little, the Brr presentation was pretty standard stuff. I'm not sure of your familiarity with power plant construction etc so I apologise if I am telling you to suck eggs. In short:

1. there is a need to refine the design, and I suspect a consultant with be engaged for that. I think Mee used Thomas and Coffey, but I can't recall exactly.
2. then there will be a consent process, including aboriginal consent;
3. then construction of the pilot will beging;
4. then there might be a 12 - 18mth trial;
5. then a review and design refinement.
6. then the whole process starts again for the main station.

As a comparison, a nuclear plant has about a 5 - 12 year lead time, depending on resource consent issues (and appeals); hydro 5 - 8 and solar probably the least, 18 - 24 months. Wind can be 2 - 8 (noise is an issue). 

Re JORC resources, I would not read anything into this. To state a non JORC resource in an ASX announcement is a breach, and the ASX recalls such announcements. BR is not of course ASX but the same discipline should apply. I do get just a bit sick of the not always substantiated claims made in prospectus and on radio and am pleased Len did not do this. In any event, Cxy will probably seek a JV partner at least for the main station, for which a resource sufficient for a 30 yr burn would be reasonable; and may (or should) seek JV resources in several regions. If Cxy manages to perfect brown coal UCG technology then it could replicate it. That said, UCG is actually used overseas, in some areas.

Frankly, the AOE announcment and BG / Origin business can only heighten interest in this (related) sector. IMO we have  a way to go yet in terms of price. The difficult with what appears to be short term profit taking is, once it has reduced, a rapid and substantial escalation in price can occur, but it is jolly diffiuclt to know if that will happen tomorrow, this week, next week, next month ...(but I speculate early this month) 

I disclose holdings.


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## james99 (2 June 2008)

Of course, re resources, and potential, it is important to bear in mind the CXY international play: India, with EEPL, a sub, of 20 bil conglomerate with tenements and access to public tenements, and  of course Pakistan, which MOU also contains resource access. See lins for announcements. And my suspicion is that once there has been a successul trial burn in Kingaroy, then the overseas projects (secured by MOU) will begin to be advanced. Those overseas MOU's in coal rich regions are an important differentiating factor.

http://www.asx.com.au/asxpdf/20080327/pdf/3187htp1zn8tb3.pdf

http://www.redorbit.com/news/scienc...o_develop_400_mw_ucg_power_station/index.html


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## cordelia (2 June 2008)

i took a position last week in this stock at .15c...watched it go up and then go into a trading halt. When it came back on I sold....glad i did there's other places to go that aren't as dodgy...sorry but why take the hard road and I always trust my gut instinct...


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## farout (3 June 2008)

Nice work cordelia. I've posted my views on this stock previously so won't bag it again. Needless to say, like yourself I believe there are much better alternatives


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## Djayness (3 June 2008)

Not to say i told you so or anything, but the market does not agree with either of you with the 11% gains just today. The projects that reach far beyond Australian boarders coupled with the current hype about the trial burn/ucg processes means that this stock may just continue to go up.

Im not too sure about the JV though, Im expecting some announcements outlining their intentions in the next few weeks.


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## jaster (3 June 2008)

Source: www.theaustralian.news.com.au/business

$2bn plan to 'fuel petroleum needs'
Rick Wallace, Victorian political reporter | June 03, 2008

A $2 BILLION coal project will be unveiled today in Victoria's Latrobe Valley as its backer suggests Australia could replace all petroleum imports by turning the nation's vast reserves of brown coal to oil.

Victorian Premier John Brumby will launch the Australian Energy Company's project to turn brown coal into enough urea, a nitrogen-rich fertiliser, to supply Australia's needs.

The plant uses coal gasification and condensing technology. Its backers say all the CO2 produced will be stored beneath the sea, making it a "clean coal" project.

The entrepreneur behind the project, Allan Blood, said Victoria's reserves of brown coal had enormous potential for fertiliser and oil production. The plant would generate 1.2million tonnes a year of urea and all the CO2 produced would be stored in reservoirs that once contained natural gas in Bass Strait.

The plant, expected to be operational by 2012, has the backing of several London-based equity funds. Joint-venture discussions with several major chemical companies have begun.

The project will require 1000 workers to produce urea through a gasification process similar to the one used in the first stage of producing oil from coal.

Mr Blood was the brains behind a $5 billion coal-to-oil project in the Latrobe Valley that was bought by Shell and Anglo American. It is designed to produce 70,000 barrels of oil a day.

The Australian Energy Corporation chairman said the tremendous amount of energy trapped in brown coal - coupled with gasification and geosequestration technology - provided a clean source of a range of hydrocarbons.

"There's no reason why Australia could not be totally self sustainable in petroleum products, or any other chemical product such as urea, from coal," he said. "We have got all the coal in the world here for goodness sake. It becomes the highest-quality fuel or diesel imaginable. Sasol in South Africa have been doing it since 1968, making 150,000 barrels a day."

Turning coal into diesel goes back to World War II, when besieged Germany used it to supplement its dwindling oil supplies. South Africa is by far the biggest user of the technology in what is a hangover from apartheid days when the country was concerned it would be locked out of world oil markets.

However, it hasn't been widely taken up despite the wide geographic spread of coal reserves, largely because it is expensive.

It also produces significantly more carbon than traditional petrol-diesel production and has been described as one of the most environmentally unfriendly means of producing oil.

Australia imports 550,000 barrels a day of oil and 1.3 million tonnes, or $300 million worth, of urea for fertiliser each year. The urea comes from the Middle East.

Gasification works by treating coal at very high temperature with a controlled amount of oxygen to produce a gas that can be converted to diesel. Nitrogen is added towards the end of the process to make urea. Mr Blood said once the reaction was established, it was self-propelling and the CO2 generated was easy to trap and then store.


Ends.


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## cordelia (3 June 2008)

Djayness said:


> Not to say i told you so or anything, but the market does not agree with either of you with the 11% gains just today. The projects that reach far beyond Australian boarders coupled with the current hype about the trial burn/ucg processes means that this stock may just continue to go up.
> 
> Im not too sure about the JV though, Im expecting some announcements outlining their intentions in the next few weeks.




Well that is encouraging..but its still going sideways for the moment and I would rather have my money doing something rather than sitting around waiting for something to happen. But that's me and I can be impatient.


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## farout (3 June 2008)

I'll add my little rant as well. 

I think you should read my post again Djay, 'better alternatives'. Congrats on what was actually an 8% gain today by end of trading. It's not very wise to base stock performance on one day of trading but if that's what you want, my alternatives performed at an average of 14% gains today.


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## Djayness (3 June 2008)

farout said:


> I'll add my little rant as well.
> 
> I think you should read my post again Djay, 'better alternatives'. Congrats on what was actually an 8% gain today by end of trading. It's not very wise to base stock performance on one day of trading but if that's what you want, my alternatives performed at an average of 14% gains today.




Well of course at time of writing it was 11% but in any case if you feel there are better alternatives then im not in debate; I would love to hear them.

I am not basing the stock performance on one days trading, I actually provided reasoning for why I felt the stock was still of good value for the short and long term.

As a holder of GBG, MEE, CXY and GLX to name just a few, it is becoming increasingly difficult to keep up to date with all of the information in the iron ore/UCG industries. If you feel there are better alternatives (which you have stated) then by all means mention specifically why.


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## desolator (4 June 2008)

wowzers this stock is going crazy in terms of panic buying today, still running as well.. we might just see this bolt to the hillz soon.. if we can avoid to much profit taking next few days we might see 30c? thoughts?

still holding


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## mick2006 (4 June 2008)

looks like UCG is back with a bang this afternoon, with relentless buying in CXY,MEE,LNC.

CXY has blown through 20-23c in half an hour on volume of close to 10 million in that space of time


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## blehgg (4 June 2008)

Along with GLX...

both gone crazy....

Awesome is what I can say.. 

CXY - 240

GLX - 165 NICE!!!


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## Djayness (4 June 2008)

Crazy buying today with buyers lining up, just insane.

Good to see such impressive gains with all the UCG stocks, looks like whatever one company announces just flows onto the sp of the others, i predict we will see some more of this madness with the coming of all the trial burns, lets all hold hands and hope its successful lol.


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## james99 (4 June 2008)

Djayness said:


> Crazy buying today with buyers lining up, just insane.
> 
> Good to see such impressive gains with all the UCG stocks, looks like whatever one company announces just flows onto the sp of the others, i predict we will see some more of this madness with the coming of all the trial burns, lets all hold hands and hope its successful lol.




Djayness, I agree, but also like to make sure there are some unfundamentals. I have bought BLK (see thread) and would be interested in sharing details of other shares held by folk.

I disclose holdings in CXY.


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## birdmanz (4 June 2008)

farout said:


> I'll add my little rant as well.
> 
> I think you should read my post again Djay, 'better alternatives'. Congrats on what was actually an 8% gain today by end of trading. It's not very wise to base stock performance on one day of trading but if that's what you want, my alternatives performed at an average of 14% gains today.





all i can say about todays surge is "FAROUT"....lol
looking forward to announcements of jorc etc to see the sp move much further north in the coming weeks/months
Cheers
G


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## Red Fatboy (4 June 2008)

There has been a lot of debate on this thread(which does make for interesting reading) But for my way of thinking "The only way is up ,baby'' (sung to the tune of the song of the same name)


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## cordelia (4 June 2008)

Djayness said:


> Not to say i told you so or anything, but the market does not agree with either of you with the 11% gains just today. The projects that reach far beyond Australian boarders coupled with the current hype about the trial burn/ucg processes means that this stock may just continue to go up.
> 
> Im not too sure about the JV though, Im expecting some announcements outlining their intentions in the next few weeks.





 I actually got back into  CXY today @.195 because my buy criteria was met. So I was pleased to see some movement. I don't hold onto to shares for very long..its too boring. I like to be where the action is...

Good on you for having the perserverence


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## james99 (4 June 2008)

Yes - it did didn't matter much - Mee, Cxy, Lnc, Blk, etc all excellent today. More importantly, even if oil falls to 100 - 110 a barrel, they will still be good, because the production break even point is much lower. 

In UK, for example, tonight (today UK time) big oil is done, but small CSM (in this case Fortune with has a JV with Mpo in China) is up. All jolly good really. 

Both Cxy and Blk to provide a resources report this quarter.

I disclose holdings (CXY and BLK)


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## LittleMak (4 June 2008)

Can someone please explain to me what is the go with the 5-6c options (CXYO) has at present?  Can anyone just buy them?  What happens when you buy them, can you convert say 60000 options @5c and turn those into 60000 shares for a purchase at 0.05c? 

Cheers

LM


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## Dukey (4 June 2008)

LittleMak said:


> Can someone please explain to me what is the go with the 5-6c options (CXYO) has at present?  Can anyone just buy them?  What happens when you buy them, can you convert say 60000 options @5c and turn those into 60000 shares for a purchase at 0.05c?
> 
> Cheers   LM




CXYO (5 cents  exercise date Dec 31 2008) are company issued options (as opposed to exchange traded options ....  Here's a spiel on COMPANY ISSUED OPTIONS from the asx website here:   http://www.asx.com.au/investor/options/how/library/company_options_versus_etos.htm
)

& YES - anyone can buy or sell them just like shares.... up to about 5 days before the exercise date - when they stop trading on the asx.

If you still have the options nearing the time of exercise date you must decide if it's worthwhile paying the 5c to exercise each option.... if you pay the exercise price you will get 1 fully paid ordinary share (CXY) for each option converted. (& the exercise price is payed directly to the company - not via the ASX).
If the options aren't converted they lapse and as far as I know they disappear into the void where dead options go .... never to be seen again.... BUT this would only be the case if the share has tanked to something below the exercise price (or if you expect it will).

Essentially I think of it as buying the shares in two installments...  Paying market price now, and paying the exercise price later.

Example: (bear in mind I'm no gun trader so best to double check this stuff!!! ) 
I bought some CXYO maybe two weeks back - 
Now generally the options trading price will track below the 'heads' (CXY) by roughly the amount of the exercise (or strike) price, - in this case 5c, or a little lower. CXYO seems to be tracking about 6c below CXY currently but it varies through the day.

At that time CXYO were about 7c  ;  CXY were about 12.5c  

so.... assuming $1000 to invest : I could buy 14285 CXYO   or  8000 CXY...   this is where the options give you leverage.  

Todays close was CXYO = 18c ; CXY = 24c
If I had sold everything today, 
my profit on CXYO would be 157%  (x $1k investment = 1570$ profit)
My profit on CXY would have been 92% (x $1k = 920$ profit).

so far I'm well ahead by going for the options this time... doesn't always work so well... cause the leverage works against you if the share price tanks.  ... so watch out.


Well - hope that helps LM - certainly helped me get it all clear in my own head!!!! 
Please correct me anyone - if I've messed up somewhere.

good luck. - dukey


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## desolator (5 June 2008)

jesus christ.. every time cxy trys to get some momentum behind the stock and things look peachy they announce a trading halt.. wouldnt it be better to let the SP tank a lil bit before this? i mean surely.. if they are issueing more shares it better be at minimun 20c.. otherwise history may repeat itself and see a backflip in the SP ? thoughts?

The Directors of Cougar Energy Limited (ASX Code: CXY) seek a trading halt to the company’s listed securities.
Reason for trading halt: The Company is currently negotiating a long term financing arrangement to develop the company’s UCG assets.
How long is trading halt to last: Until before commencement of trading on Tuesday 10th June 2008 (given that Monday 9th June is a national public holiday).
Event to end trading halt: The announcement to market as indicated above.
Granting of trading halt: We are not aware of any reason why the trading halt should not be granted.
Other information: There is no other information that the Company can advise the market at this time regarding the request for a trading halt.
For Further information, please contact:
Dr Len Walker, Managing Director on 0419 587 396


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## blehgg (5 June 2008)

The securities of Cougar Energy Limited (the “Company”) will be placed in pre-open atthe request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in pre-open until the earlier of the commencement of normal trading on Tuesday, 10 June 2008 or when the announcement is released to the market.

Interesting 

Good luck all


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## mick2006 (5 June 2008)

the funding agreement for development of CXY's UCG assets is going to be a massive boost for the company, it will be very interesting to see what form the agreement takes.

with plenty of multi-national corporations currently in Australia stalking any decent CSG,UCG play hopefully CXY has attracted one of the big boys.


----------



## james99 (5 June 2008)

Mick, if good terms, then I agree. Interestingly, the previous halt referred to "equity" raising, and this one financing, which perhaps suggested that there will be limited dilution only, in which case it will be very beneficial indeed. At the halt the highest buy offer is at .32 (50,000 for 1 buyer) and then .30 (87,100 for 6 buyers).  The total buy orders for .25 and above at 1,346,576 shares. Depending on the sells that still exist on Tuesday, it could open very high indeed.

I disclose holdings.


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## LittleMak (5 June 2008)

Dukey said:


> CXYO (5 cents  exercise date Dec 31 2008) are company issued options (as opposed to exchange traded options ....  Here's a spiel on COMPANY ISSUED OPTIONS from the asx website here:   http://www.asx.com.au/investor/options/how/library/company_options_versus_etos.htm
> )
> 
> & YES - anyone can buy or sell them just like shares.... up to about 5 days before the exercise date - when they stop trading on the asx.
> ...





Wow.... thanks for the info and the link Dukey!

I've got some reading to do.                                                    

Cheers 

LM


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## redback (5 June 2008)

I must make a comment here, something stinks real bad here, Len and his old financier mate from the PCE days (largest shareholder after Len) are obviously in bed together,  firstly 50m at 14c then only a week later this trading halt, ASIC should be looking very closely at this pair, this is disgraceful insider conduct of the worst order, I will  see what ASIC make of this rort. So are they going to try a MEE?, with a $22million raising?, I personally cannot see a reputable company coming in here, not with this obvious cronyism going on behind the scenes, these people should be investigated forthwith, with only about 60-75 million tonnes still non jorc this behaviour is suspect as, this is not going to interest any major, I may be wrong, but currently the behaviour shown by the people involved stinks to high heaven of insider greed.


----------



## redback (5 June 2008)

redback said:


> I must make a comment here, something stinks real bad here, Len and his old financier mate from the PCE days (largest shareholder after Len) are obviously in bed together,  firstly 50m at 14c then only a week later this trading halt, ASIC should be looking very closely at this pair, this is disgraceful insider conduct of the worst order, I will  see what ASIC make of this rort. So are they going to try a MEE?, with a $22million raising?, I personally cannot see a reputable company coming in here, not with this obvious cronyism going on behind the scenes, these people should be investigated forthwith, with only about 60-75 million tonnes still non jorc this behaviour is suspect as, this is not going to interest any major, I may be wrong, but currently the behaviour shown by the people involved stinks to high heaven of insider greed.




Complaint lodged with the toothless tigers, nothing of course will come of it of course, but protest lodged anyway


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## james99 (5 June 2008)

Red: Just a few things:

1. I am not sure the basis of your reserves figure. CXY has already announced it has not yet obtained but is commissioning a JORC figure. Surely that should be awaited.

2. it has constantly maintained that it has sufficient resources for the current project. It would be a bold move if it did not or could not locate that.

3. It, as long ago as Sept. last year, announced a JV with VPE re an exploration area with very substantial coal potential. It also has access to reserves in its overseas locations.

See link re VPE : http://www.cougarenergy.com.au/PDF/10Sept_314gd4m5qqpbk0.pdf

4. Re the alleged insider trading etc:

(a) if you have evidence, then I am sure the ASX / Regulatory body will investigate and act on it. I invite you to post it, so we are clear what you are talking about.

 (b) merely prefering to obtain finance from business associates and even friends is not unlawful. Indeed, many companies start out that way, and continue to raise funds in that manner (perhaps the most benign method of which is employee options). 

So long as the funding cost is not disproportionate to the project, obtaining it seems sensible.

I disclose holdings. Can you disclose whether you have or over the past 2 weeks have had any CFD / positions / holdings etc in CXY.

NB: I welcome your posts; but simply wish to clarify the factual basis and your ongoing interest in this company that you clearly do not like. ;-)


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## Dukey (5 June 2008)

LittleMak said:


> Wow.... thanks for the info and the link Dukey!
> 
> I've got some reading to do.
> 
> ...




No probs LM.  glad to be of assistance. 

........ don't forget the bit about the downside risks with options - if the regular shares start tanking... has happened to me ... can happen quickly esp. if they trade on low volumes - you can run out of buyers pretty quick!
CXY/CXYO going in the right direction so far...

... despite whatever our spidery mate is on about

- dukey.


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## cordelia (6 June 2008)

redback said:


> James, I hold quite a largish amount--firstly from 3.4c, which went to 15c (I bailed just after our great friend here decided to dump them too ), which sent this into freefall, I am not impressed one little bit with this persons involvement here (Melbourne Capital), these scalpers, and poor ol Len's dependancy on them are no recommendation at all, these people are obviously taking full advantage of the current bubble in coal stocks, I have seen these people operating, just take care--60-80 million tonnes of 150m deep coal isn't feasible, neither is a 40mgw power station, I would suggest that this is being seriously manipulated for the profit of a few, beware these people, I have seen all this before, and the people are still the same old. I await the heat of the intense retaliatory flames which will surely follow this simple expurgee




Redback...did anyone pin you down and force you to buy or sell these shares? All the information you need to base your engagement with the stockmarket  upon, is freely available, if you take the time and effort to look....There is no conspiracy....

The trouble is people think they can just barge into an area they have no knowledge of. The n they get annoyed when it doesn't go their way. 
Would you venture into a game park without knowing how to deal with the wildlife?

You obviously feel disgruntled with this stock so why not approach the management with your complaints...

Every trade involves a decision..who's is it


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## doctorj (6 June 2008)

redback said:


> I personally cannot see a reputable company coming in here, not with this obvious cronyism going on behind the scenes



Isn't 'cronyism' the lifeblood of the small explorer?  I once was involved with the IPO of a small explorer.  Of all the money they raised (through a very reputable broker I might add), the only money they 'raised' that didn't come from friends/family/themselves/brokers/brokers mates was a tiny parcel of 10,000 shares.... that was taken by the lady that worked for the company they were outsourcing their book keeping too.  It's not often a result of knowing any more than Joe Average, but merely trusting the skills of people you know.

Anyway, lets keep this about CXY.  Redback, I think it's more than fair your fairly lightweight claims were politely challenged and the number of times you have been 'in and out' is completely irrelevent.  

I too would be very interested if you have any further basis for your comments.


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## LittleMak (7 June 2008)

Optimism: From my research CXY have enormous potential with Lens experience and the JV's O/S and Victoria Aus etc. If this trading halt is the start of a great JV with a huge respectable Company then I can't wait for trading to resume on tuesday.

Pessimism: If nothing substancial or long term comes of this again, Then one would have to question CXY managements ability to progress this company for long term success. The management and expertise of LNC and MEE are built for long term success. One would think with Len's experience that he should have the best team and this company 'CXY' where LNC is at present or further or even on par with MEE at the moment.

Soo many questions? Especially when one of the largest shareholders in CXY (Angus Edgar) is also an Executive Director of Melb Capital and is involved in a business(Transol) with CXy's Andrew Metcalfe.

http://www.cougarenergy.com.au/PDF/9July_313bz45ls2jwd4.pdf
http://www.transolcorp.com.au/4.html


Today though I remain optimistic and A holder of CXY.


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## james99 (7 June 2008)

Well Little. I think that Tuesday will (subject to Monday on the DOW) be a good day. Although the DOW is down substantially, oil and energy cos have held up and advanced on the TSX, which Au. resource stocks tend to mirror.

When oil when to $136 bl, cxy, mpo, mee, blk and glx spiked, it is now $139, and furthermore there has been positive publicity in Au re gas. Gas in US now $12+ and it is predicted that Au will trend in that direction.

Cxy is currently 24, with a cap of 105 mil, Mee is 230 cap, so Cxy can double and still not match Mee, which will (IMO) rise on Tuesday anyway. Smaller cos, eg Blk with cap of about 16 mil, can increase 6 times to reach Cxy and 14 to reach Mee. 

In terms of investor sentiment, the trend is up and these will, IMO, also be dragged up by AOE, BPT etc over time. The turning point may be if some cannot bring their projects to fruition, but there are many months before that possibility comes to bear (ie before actual construction begins. That, IMO, will be a time of risk).

Mee went about about 2.5 times in the few weeks following its financing announcment (from 32 to 80); an equivalent with Cxy (now 24) would be to 60.

I disclose holdings.


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## avaramo (7 June 2008)

james99 said:


> Well Little. I think that Tuesday will (subject to Monday on the DOW) be a good day. Although the DOW is down substantially, oil and energy cos have held up and advanced on the TSX, which Au. resource stocks tend to mirror.
> 
> When oil when to $136 bl, cxy, mpo, mee, blk and glx spiked, it is now $139, and furthermore there has been positive publicity in Au re gas. Gas in US now $12+ and it is predicted that Au will trend in that direction.
> 
> ...




Based on your theory, all these companies should or could have the same market cap.  So why not include LNC in your theory with a market cap of $1.4Billion?


----------



## ands (8 June 2008)

Well a huge rise in the share price the day before the Trading Halt announcement must count for something...


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## james99 (8 June 2008)

avaramo said:


> Based on your theory, all these companies should or could have the same market cap.  So why not include LNC in your theory with a market cap of $1.4Billion?




Avaramo: I think that if they all progress to the same level then, subject to resources, market sentiment etc they can be in a similar cap category. However, I think LNC (and also AOE and BPT and some others) are really so far advanced and have other strings to their bow compared to Mee, Cxy, Blk, Glx, etc that it would be a highly unrealistic comparision at this stage. 

We have, I think, some 15 under 250 mil cos in the UGC, CBM, CTL sector, and almost all do not produce and there are no UGC plants. Some may never do so. Therefore market sentiment etc is a major factor in price.

And, as a person who holds and dips into Mee, Cxy, Mpo, Aoe and Blk (amongst others) it would be great if they all made the LNC or even AOE level, but the under 250 mil's need quite a bit of progress on the ground before then IMO.

Anyway, I shall end with another generally positive gas link (and hope for Tuesday):

http://business.smh.com.au/gas-bonanza-20080606-2mzw.html?page=fullpage#contentSwap2


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## james99 (8 June 2008)

Great CXY publicity: UGC conference in Houston, Texas, 16 and 17 July with two Aussie speakers:  

"Progress In Underground Coal Gasification In Australia
Len Walker, managing director, Cougar Energy Ltd, Australia
Over the past year, significant progress on UCG projects has been made in Australia, with three companies listed on the Australian Stock Exchange actively pursuing project development at different sites in Queensland. Cougar Energy has completed resource definition at its Kingaroy site, and is undertaking final site characterization prior to commencing the pilot burn for a 400MW combined cycle power project. The presentation describes progress on this and other projects being undertaken by the company, and the range of geological conditions confronting application of UCG technology."

And

"Main Directions of UCG Research at The University of Queensland, Australia 
A. Y. Klimenko, Reader, School of Engineering, University of Queensland, Australia
This presentation will review UCG research in The University of Queensland (UQ). While this research has significant computational and experimental components, the main distinctive feature of UQ approach is its strong theoretical component that is aimed to improve our understanding of UCG processes. The UCG technology is of inherently multidisciplinary nature involving the issues of combustion and fluid flow in porous media, geological issues and advanced mathematics. This underlines the complexity of UCG processes and creates conditions for cooperation between researchers with different backgrounds. We shall consider the main directions of UCG research at UQ in the context of recent dramatic rise of worldwide interest in UCG. These directions involve reverse and direct combustion linking techniques, steam jacket and its stability, asymptotic analysis of stability of channel widening techniques. " 

http://www.syngasrefiner.com/ucg/agenda.asp


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## Djayness (9 June 2008)

james99 said:


> Great CXY publicity: UGC conference in Houston, Texas, 16 and 17 July with two Aussie speakers:
> 
> "Progress In Underground Coal Gasification In Australia
> Len Walker, managing director, Cougar Energy Ltd, Australia
> ...




Oh lord, I go to UQ and how typical, how typical that the head of school uses the most complex of words when they are clearly not needed. I wonder how many of the houston texas audience understood words like asymptotic and phrases such as "inherently multidisciplinary nature".


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## desolator (10 June 2008)

wow 280 mil over the next 18 months. sure didnt see that one coming!!!! talked about cashed up to the seems for the future lol...


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## james99 (10 June 2008)

Desolator. It is, frankly, almost unbelievable. It places it well above Mee in terms of funding and is 1/3 of the Shell / Arrow deal. Wow.


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## Dukey (10 June 2008)

Mmmmm - very nice announcement - german backing, plenty of $$$, accellerated pilot program.....   all looks up and up for CXY.....

-wonder how redback will try to trash this one??? 


(Holding cxyo)


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## alanding (10 June 2008)

any thoughts of dropping? just sell on fact or because of friday slump of US stock?


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## Dukey (10 June 2008)

alanding said:


> any thoughts of dropping? just sell on fact or because of friday slump of US stock?




dunno - probably just nervous market - my whole sheet is red today despite some promising announcements.

I'll go away and come back tomorrow I think.

g'luck all - dukey.


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## blehgg (10 June 2008)

james99 said:


> Desolator. It is, frankly, almost unbelievable. It places it well above Mee in terms of funding and is 1/3 of the Shell / Arrow deal. Wow.




Got smashed today - down 16.67% =="

wasn't it good news or am I missing something? ~

Oh wellz, hopefully it should kick back tomorrow.


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## desolator (10 June 2008)

well, a veryy lack laster performace today considering.. but had a chance to top up.. should see some positive anouncments to follow.. i get the feeling we arnts being told something, u dont put 280 mill unless you see some real promise! bring on wednesday


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## farout (10 June 2008)

I did warn you guys. In farout you should trust.

80 million options at 25c. Of course the day is going to finish in the red! This will result in a large capped resistance. Good luck.


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## springhill (10 June 2008)

farout said:


> I did warn you guys. In farout you should trust.
> 
> 80 million options at 25c. Of course the day is going to finish in the red! This will result in a large capped resistance. Good luck.




Surely there is somehing to be said for having $280 mill in the bank in 18 months time, providing certain conditions are met of course. With the amount of shares on offer at that time, cash in hand values them at around 45 cents give or take, thats not taking into account proven up resources and the drag created by LNC test run and MEE taking the next steps aswell. Im def no expert here, just thinking out loud. Am i incorrect in this assumption?


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## Dukey (10 June 2008)

farout said:


> I did warn you guys. In farout you should trust.
> 
> 80 million options at 25c. Of course the day is going to finish in the red! This will result in a large capped resistance. Good luck.




There are plenty of examples of options not capping a share price.  QGC gave out free 60c (?) options a couple of years back.  the sp charged straight through and way beyond. not a hiccup in sight. 

And people seem to forget that when converted, options raise funding $$$$.

a little patience will be rewarded IMO.  Vast majority were down today.

(holding cxyo)


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## WindriderAU (11 June 2008)

How did you buy in at 15.5c? Were these options? Who from?

I am new to investing and have not advanced to the Options stage.


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## Wilson! (11 June 2008)

windrider, I bought options at 15.5c - correct
you pay only 5c conversion fee, in Dec 08 from memory and they become heads
just need to send a cheque in before expiry date

usually offer great leverage over heads


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## WindriderAU (11 June 2008)

OK Team - Newbie question, sorry.

Wilson bought using options, he paid (or rather he has to pay?) 15.5c per option. If he has to pay 5c to convert each option, does this mean the shares actually cost him 20.5c?

My education is still in the steep learning curve at the moment, so hopefully this can be answered fairly easily. 

Does buying options, means that if he wants to buy, he can, and the price he will pay will be 20.5c per share prior to the expiry date? This includes the 5c + 15.5c option price?

If the stock has gone bad is Wilson still obligated to buy? If not, what does he have to pay?

So yesterday:
What would Wilson have paid?
What has Wilson committed to?

Thanks in advance.


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## Dukey (11 June 2008)

WindriderAU said:


> OK Team - Newbie question, sorry.
> 
> Wilson bought using options, he paid (or rather he has to pay?) 15.5c per option. If he has to pay 5c to convert each option, does this mean the shares actually cost him 20.5c?
> 
> ...




Windy - check out post 181 further down (up?) this thread.  I think that might answer some questions

-dukey.


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## WindriderAU (11 June 2008)

Thanks Dukey. I read your post #181 and read the ASX link. I am getting there, just not totally clear at the moment.

You wrote....
***********************************************
At that time CXYO were about 7c ; CXY were about 12.5c

so.... assuming $1000 to invest : I could buy 14285 CXYO or 8000 CXY... this is where the options give you leverage.

Todays close was CXYO = 18c ; CXY = 24c
If I had sold everything today,
my profit on CXYO would be 157% (x $1k investment = 1570$ profit)
My profit on CXY would have been 92% (x $1k = 920$ profit).
***********************************************

Working with your $1000 to invest, you can purchase 14285 CXYO @ 7c each. Prior to expiry, you exercise your options (this means you have to pay the other 5c?).
Q - If you don't decide to exercise your options, what happens with your 14285 CXYO's that you purchased for $1000? If I understand it correctly, you simply lose them along with your $1000. If you had purchased CXY's you would still have them.

So as far as I can see if the price is higher at the exercise time, then all is good. 

Also another think I noted is that at 7c, your exercise amount was 71% of your purchase price. At todays prices (approx 15.5), the exercise amount is  32% of the purchase price. Would this mean that the benefit of using options will decrease if the exercise price does not change/increase with the share price. The longer the exercise price stays at 5c, the less the difference in gains between CXYO and CXY.

Hope I have worked it out correctly, and the main question is if you do not take up the options/exercise, then you lose your money?

Thanks again.


----------



## Dukey (11 June 2008)

WindriderAU said:


> Thanks Dukey. I read your post #181 and read the ASX link. I am getting there, just not totally clear at the moment.
> 
> You wrote....
> ***********************************************
> ...




The exercise price won't change - ever. Even if the shares go through the roof - it will still cost you 5c per option to convert them to ordinary shares.  The idea is - that you don't have to pay that 5c until later (before the exercise date) - so allows you to buy a greater number of options (than shares) for a given amount of cash.

If you don't want to pay the 5c per option to convert - you can sell the options on the ASX before the exercise date.

...  or - if the options have no value because god forbid - the share price has tanked - you just let them lapse and you've done your $$$.

- I guess what you are getting your head around is that the 'leverage' with these options comes about because of the % diff between the share price and the option price on the asx.  greater %difference in price = greater leverage.

At 7c V 12c  - the option price (tracking ~5c lower, roughly = the exercise price) is about 60% of the regular shares.

Sometime down the track, at say 30cents for CXYO  and 35c for CXY - the option price (still tracking ~5c lower ) is about 85% of the share price - so much of the leverage/advantage of buying the options is gone.

----------
risks: 
If the regular shares start tanking towards the 'exercise price' - then this means the options value approaches zero!  and it can do it quickly. 

ie if CXY crashed back to 5c..... the CXYO would be very very low - maybe something like < 0.5 cents.  
If the CXY price recovers before exercise time - then the options will follow them back up.
If CXY is below 5c at exercise date - then there is no point in paying 5c per option to exercise/convert - because you could just buy CXY for less!!!

I'd suggest you put CXY and CXYO next to each other on your watchlist somewhere - or SXP / SXPO or some others.
- this way you can watch the relationship of  % gains or losses between the shares and their options.

Generally you will see that as the share price increases, the % diff between share and option prices decreases and so does your leverage. (because the options will track cheaper by roughly the exercise price = 5c for CXYO)

Hope all that is not toooooooooooo confusing!!
-------------------
-EDIT - anyone please feel free to add to this discussion or correct any mistakes   !!! - dukey.
===============


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## alanding (11 June 2008)

I do some calculating for DI. I am wrong, correct me.

DI will invest 280M with 80m options @25c. If DI want to earn money from the investment, the only way is to  execute options of 80m. AM I right here? 
If it is right. then their cost will be 
    280+80*0.25=300m. 
So there average cost per share is: 
          300/80=3.75$.
That means if DI want to cover from lost, the SP have to be 3.75$ before 30/06/2011. (80M options due date).  Otherwise DI will lost money. 
Am I missing something? just tell me.


----------



## WindriderAU (11 June 2008)

The document says it is a MOU (Memorandum of Understanding). Is this a legally financing contractual obligation deal or a gentleman's handshake?


----------



## james99 (11 June 2008)

WindriderAU said:


> The document says it is a MOU (Memorandum of Understanding). Is this a legally financing contractual obligation deal or a gentleman's handshake?




Windrider, MOU's generally contain a legally enforable obligation to pursue the goal or purpose of the MOU in good faith; provided that the parties do so in good faith then neither can sue the other if, for example, a binding financing agreement (eg this amount on this day) does not result.  MOU's are, therefore, less than money in the bank but more than a handshake. 

I see that earlier in the link there are some projections as to the total cost per share of the investment. I am not sure that they are right (or more to the point calculatable at this stage), because there may be financing fees and other expenses (including issues of securities) and potentially interest included in any binding agreement.

That said and perhaps more importantly, DI has management, business expertise and money, all of which CXY needs. If a 400mw project is viable and if (as I understand DI wants) the Exgo technology Cougar has the rights to is easily scaleable and able to be rolled out across Au, India and Pakistan, then I think DI will pursue this vigorously. 

And the Exgo technology is that that was used in the 1999 Linc burn, and that it lost in (I think)2006; and now CXY has the rights; an BP is a collaborator with Exgo. Further, Exgo's plant in Africa is, I understand, doing very well. In short, CXY has done well with obtaining the Exgo rights and the MOU at this early stage (ie still being a micro / small cap). Hope this helps.

In short, I am very optimistic, despite the fact it is only the MOU stage. I disclose long term holdings.


----------



## LittleMak (11 June 2008)

WindriderAU said:


> The document says it is a MOU (Memorandum of Understanding). Is this a legally financing contractual obligation deal or a gentleman's handshake?





As far as I know its a contract, 'BUT'.... The MOU provides for DI to arrange two tranches of funding, the first of around $30m at the end of
2008 (First Financing), and the second of around $250m at the end of 2009 (Second Financing),
subject to achievement of agreed project milestones. The funding may come from a combination of
corporate and/or project equity and/or debt.


So basically if CXY don't meet their agreed project milestones, then DI is exempt from paying up.

Hopefully this will give CXY management a kick up the ass to get this project rolling.


----------



## rsteven (11 June 2008)

I am new to this and this may be a silly question but why are the options killing this?  

I bought a small amount of these shares as I am learning the game.  To me it seems that they have a knowledgable team, money and the tech to do this.

Does that not make this a good 12-36 month punt?


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## james99 (11 June 2008)

Rsteven, I don't think they are. The options are less than the share price, and when the share price rises a certain percentage, the options rise a greater percentage from the original price. I think Duke(?) provided a great explaination earlier. Anyway, there are many options due for expiry this year. Holders may be converting them to shares, and taking a profit. And why not.

I do not agree with Redback's view. For example, today and to expand on part of an earlier post, the volume was over 12.6 million shares and 1.8 million options. That volume was therefore sold but, importantly, bought and further more there was a slight share price increase for each (5% for the shares, 3% for the options),  in an otherwise generally dull market. Mee for example dropped 4.6 %, Mpo dropped 4.7%, Aoe only increased 1.1%. Difficult to see how that is interpreted as a "killing" of the share price.

Incidentially, you may be aware posters on these sites have differing motives. For example, money can be made when prices increase, but it is also possible to make money on a margin call that the share price will decrease. In short, you need to rely on your own judgment.

I disclose holdings.


----------



## rsteven (11 June 2008)

thanks 

I think that I will hold these for a while and see what happens with their projects.

...and I will have a closer look at the posts about the options etc, thanks.


----------



## Dukey (11 June 2008)

james99 said:


> Rsteven, I don't think they are. The options are less than the share price, and when the share price rises a certain percentage, the options rise a greater percentage from the original price. I think Duke(?) provided a great explaination earlier. Anyway, there are many options due for expiry this year. Holders may be converting them to shares, and taking a profit. And why not.
> 
> I do not agree with Redback's view. For example, today and to expand on part of an earlier post, the volume was over 12.6 million shares and 1.8 million options. That volume was therefore sold but, importantly, bought and further more there was a slight share price increase for each (5% for the shares, 3% for the options),  in an otherwise generally dull market. Mee for example dropped 4.6 %, Mpo dropped 4.7%, Aoe only increased 1.1%. Difficult to see how that is interpreted as a "killing" of the share price.
> 
> ...




I agree totally with you here james.   It may even be a good thing if some options are converted early to spread any resulting profit taking over a period of time - instead of all coming at once?? ... maybe... - I'm no expert.
To me it seems that those trashing CXY re options are ASSUMING that whoever has been converting options recently are then selling them and holding the price back. I don't believe it for a minute.

How they could know this ... unless they are doing it themselves - beats me.   Dunno about you - but I have no way of knowing who is selling or buying on most trades - unless they are announced as a significant percentage sometime later.????

... Why they keep harping on about it I don't know.  ... sometimes people have hidden agendas....  or could just be pissed that GLX don't have the kind backing CXY has just found.

(-holding CXY  amongst other coal seamers.)
----------------
EDIT: an additional question..... why would you convert the options only to sell them..... when you can just sell the options? I guess you might rake in an extra 1c or 2c per share profit if you get the timing right but ?????


----------



## redback (12 June 2008)

"... Why they keep harping on about it I don't know. ... sometimes people have hidden agendas.... or could just be pissed that GLX don't have the kind backing CXY has just found."

Hmmmm, looks to me that the option convertees, and the so called "sophisticated investors" are dumping **** loads, maybe GLX might have a better sp shortly (pardon the pun).
So what have we got here?
CXY--60m tonnes--600m on issue + 160m 5c options
GLX-- at least 1.4 b tonnes--155m on issue.
So even if lignite has half the value of black coal, this is still equals a very large magnitude of resources.
The so called backing you speak of is conditional, and I would imagine that one of these conditions require all cheap 5c options be converted first before any serious money is forwarded, as I said before--this is killing this stock, nevermind their friends who got the 14c stuff.

Conclusion--the usual suspects are at it once again--this is a rort


----------



## farout (13 June 2008)

It's done what I expected it to redback. It's a follow the pack mentality on this forum. The person that goes 'far-out' and thinks a little wins  They will never admit that they were wrong. Sure, there will be a kick when LNC produces but far better options than this stock.

I'm off to find a new forum to instil some wisdom. 

Pity, because I've been correct in all my assumptions. 

Good luck to those holding UCG. MEE will fly from here


----------



## blehgg (13 June 2008)

farout said:


> It's done what I expected it to redback. It's a follow the pack mentality on this forum. The person that goes 'far-out' and thinks a little wins  They will never admit that they were wrong. Sure, there will be a kick when LNC produces but far better options than this stock.
> 
> I'm off to find a new forum to instil some wisdom.
> 
> ...




awww.. thought redbacks posts would be deleted wayyyy before yours would... shouldn't leave  its more fun here, [easier to navigate at least]

I picked up some MEE at 66c yesterday ~ still holding  ~ 

Thought CXY would make a good underdog going into the Tipping comp... oh wellz.. looks like better luck next month ~ 

I sold out most of my CXY at 21.5c ~ not too bad as a trading stock. (bought a bundle at 16.5)

Mixed settiment here ~ bit warey  myeh ~ good luck all CXY holders ~ 

I disclose minimal holdings.


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## Dukey (13 June 2008)

blehgg said:


> awww.. thought redbacks posts would be deleted wayyyy before yours would... shouldn't leave  its more fun here, [easier to navigate at least]
> 
> I picked up some MEE at 66c yesterday ~ still holding  ~
> 
> ...




OMG blehggggg!!!!! you sold some shares??.... watch out or someone will call you a 'wombat'!!!! ... or worse    (ROFL)
- Well done - nice 4c profit there.  keep watching cause it might get better yet...  big future for all the UCG'ers (IMO) - each has advantages & disadvantages.  CXY has the man behind Lincs original chinchilla trial, and access to very successful & proven technology.  But YES - there are a large number of shares and options on issue. 

On that - I'd be more than interested to read _anybodies_ opinions & ideas on the REAL effect/implications of the large no. of shares on issue.    - apart from various unfounded trashing and allegations not backed up by details.


----------



## james99 (13 June 2008)

Dukey : I think that if UGC is demonstrated to be successful, by any Australian co., in the short term, the number of shares / options will not be especially important. The masses will buy if the sector and stock becomes hot, often regardless of cap and no shares. That happened with gold a short while back and uranium last year ... and still has to happen properly for UGC.

And as for certain derogatory comments of another, she or he has not properly acknowledged that all UGC are down on general market sentiment and GLX in fact closed down 12.5% at 14.5, from 4 week high of 19. 

We are all investing in small and therefore volatile stocks, but I very much doubt the last week's trading with poor international sentiment, even it if continues for a while, spells doom for these stocks.  

I disclose long term holdings.


----------



## Dukey (13 June 2008)

james99 said:


> Dukey : I think that if UGC is demonstrated to be successful, by any Australian co., in the short term, the number of shares / options will not be especially important. The masses will buy if the sector and stock becomes hot, often regardless of cap and no shares. That happened with gold a short while back and uranium last year ... and still has to happen properly for UGC.
> 
> And as for certain derogatory comments of another, she or he has not properly acknowledged that all UGC are down on general market sentiment and GLX in fact closed down 12.5% at 14.5, from 4 week high of 19.
> 
> ...




Thanks James - I see it pretty much the same way.

Out of interest in the '_nasty nasty options_' hypothesis of redback and apparently farout as well - I've had a closer look at the recent conversions:

- since May 20 2008 around 40Mill SXPO 5c options have been converted in lots from 2.4M up to 8.5 Mil in size. That is quite a number! The announcements don't reveal the identities.

- @ 5c each this would have netted about $2mill for the company coffers, which can go towards operating costs.

- in the same period - ie. since May 20 - the total volume of CXY ord shares traded was around 216Mill.

- so even if we assume that EVERY single converted option was then sold on (as if !!)  ... that would only amount to around 18.5% of CXY traded. 40m/216m X 100 = 18.5%

-  & as I've said before - I find it extremely unlikely that even a half or even 1/4 of those converted options have been on sold.
But even if they have.... would it be proof of some kind of conspiracy??  I don't think so.
... but If anybody cares to provide evidence to show that it has happened, then by all means - be my guest!!!...
-I'll wait patiently...

-g'luck all ucg/csg holders - Dukey.


----------



## cordelia (14 June 2008)

Wilson! said:


> windrider, I bought options at 15.5c - correct
> you pay only 5c conversion fee, in Dec 08 from memory and they become heads
> just need to send a cheque in before expiry date
> 
> usually offer great leverage over heads




THis may sem like a stupid question but if I buy options through my online broker how do I exercise them? Do you calculate the amount to pay ie: exercise price x number of shares and then send a cheque to who..the broker or the company


----------



## kenny (14 June 2008)

Cordelia,

It shouldn't matter how you buy the shares on market. The registry will send you forms to get your TFN and other details and one of the forms will usually be an exercise form to send in when you wish to give them the money.

Cheers,

Kenny

PS. only stupid question is the one left unasked.


----------



## james99 (14 June 2008)

Dukey, I might add that I am led to believe that the small cap UGC's have reached the stage where some brokers may be beginning to take an interest in them, and even initiation of coverage could give a boost to CXY.


----------



## cordelia (15 June 2008)

kenny said:


> Cordelia,
> 
> It shouldn't matter how you buy the shares on market. The registry will send you forms to get your TFN and other details and one of the forms will usually be an exercise form to send in when you wish to give them the money.
> 
> ...




hey thx for that...BTW CXY got a mention in this weekend's fin review in the smart money section...that's very encouraging..the whole coal sector is looking very positive....


----------



## james99 (15 June 2008)

Yes and UCG stock got a great write up in the weekend afr, then there is Len's presentation in Houston next month. All exciting.


----------



## blehgg (17 June 2008)

quick question....

can a buy order go through but not affect the viewable market depth?

Had a look through the orders of CXY through my comsec

Time -  01:01:54 PM
Price -	0.190	
units - 500,000	
cost - 95,000.00

which happened minutes ago...

but there are only 350,000 units on sale at 19c... in the depth.. ??


----------



## braveheart (17 June 2008)

it is only good news for stock holders of cxy..just wait till uncle Len
announces the latest news on the Kingaroy project [US July ?]
not to mention the June 3 announcement by the Victorian government ....
to support the $2 billion dollar coal to liquids project by AEC..then there is 
the oil majors Shell and Anglo American  holding large tracts of the same
brown coal that CXY and VCR are working with, to replicate  Linc's Chinchillia's
success ...which is Uncle Len's success anyway.
Watch carefully the stealth of the oil Majors from now on...they have been 
buying back vast amounts of there own shares since 2000...they know their reign is coming to an end...guess where a percentage of their Billions will be 
going...Uncle Len is way ahead of the Hive
Braveheart


----------



## birdmanz (17 June 2008)

Hi all...Dr Len was on boardroom radio yesterday,  following as the link to the interview:

http://www.brr.com.au/event/46995

Cheers
G


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## Dukey (18 June 2008)

birdmanz said:


> Hi all...Dr Len was on boardroom radio yesterday,  following as the link to the interview:
> 
> http://www.brr.com.au/event/46995
> 
> ...




& a nice chat with uncle Len it is too - simply outlining the funding deal and future plans - well worth a listen.
- Emphasizes they are NOT doing a demonstration to prove the tech. as it's already been proven in Chinchilla - (and presumably overseas).
- They are comfy with Direct Invest as a stable long term $$ partner - and reveals that DI approached Cougar - not the reverse.
- next 6 mnths - design and place orders for pilot burn facilities etc.;  --> expect pilot burn late 08.
+ starting next month - more drilling for JORC resource upgrade.

all good for me - despite the CSG/UCG sectors taking a breather at the mo.

-(holding) - dukey


----------



## cordelia (19 June 2008)

Redback...every post you make attests to your limited knowledge, if at all any, as to what the stock market is.....Do your self a favour and read some of the many good books that address the subject....

your posts are unsubstantiated drivel at best and there are many new traders on this site who may read them and god forbid act upon them.....

Unless you can prove something and quote a reliable source don't post it....


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## desolator (19 June 2008)

Appendix 3b

Unlisted Options – convert to 10,000,000
ordinary shares at conversion price of 25
cents per share subject to vesting
conditions being attained, any time up to
and including 30 June 2011.

nice.


----------



## motorway (23 June 2008)

> The stock is gathering a following
> 
> Short term trader behavior sets up
> patterns of an expanding pattern ( cobweb )
> ...





They help build support
and clear the way for mark up.

We see 
Huge ( relative ) Volume activity along the .*14* "line"
and we saw ( dotted line ) a "natural" catapult point at .15

A Successful Test, here ( RIGHT HERE )
and it would suggest
Accumulation is in a more aggressive phase still.

Then I would anticipate 
a ( continuation of the )good move.


I would not take the top of the 







> conveyor belt



 as a point to measure the "adequacy" or the ( relative ) strength of the reaction...

motorway


----------



## alankew (23 June 2008)

Motorway are you expecting it to go past the top of your conveyor belt(about 30c)and to meet resisitance near the top at 27c


----------



## james99 (23 June 2008)

It seems that there may be talk of the 400 mw Pakistan proposal being extended to 1000 mw. See link below and extract.

"Late last year, the Mines and Minerals Department approved a proposal, submitted in 2003 by Cougar Energy Limited, for setting up 400-MW units based on Thar coal, using underground gasification technology. Cougar will commence work at Block III of the Thar coalfield after signing a memorandum of understanding with Pakistan's government and will initially generate 400 MW of power. The capacity of the units will be subsequently enhanced to generate 1,000 MW of power."

http://www.electricityforum.com/news/jun08/Tharcoalprojectproceeds.html


----------



## motorway (24 June 2008)

alankew said:


> Motorway are you expecting it to go past the top of your conveyor belt(about 30c)and to meet resisitance near the top at 27c




What I see is a stock in a Bull trend that is in it's infancy

That is why I call it a conveyor belt ( I would call it something else if it was a geriatric bull trend )

The conveyor belt is building support at a higher level
and broadening that support

What did you make of today's action ?

There is no width ( work ) at the top ..
I really see no real resistance up there

Those that bought up there have either sold at lower prices
or will hang on ( they bought to soon )

So no real resistance

Think of the stages of an emerging bull trend

it starts with doubt and discovery ( this is after the smart accumulation )
and then hesitation   ( and then   well I hope we see )

The high pole so early in the trend is easily
likely to be a precursor of levels soon to be sustained
( eg it is only ahead of itself )

I judge CXY is in a  zone of active support ( demand )
But with volume ( hence that would be supply-- context )
subsiding


That is what the test is about
price moved down and what happened today ?
where did price finish ?


( Price moved down to a "line" with volume and activity but volume as been decreasing... "Lines form and build and flow into "diagonals" ( old P&F )

We are at the bottom of a congestion zone however
so could be some back and filling
depending on overhead supply ( further up ) that might emerge

At this stage all I see is an uptrend

DYOR   Tomorrow can change everything... But a real base is a real base
Accumulation is Accumulation
an uptrend is an uptrend ( YES a top would look the same but on a reasonable degree what is it a top of --- only the first high ? )

 An early spike is not a negative but indigestion

( the first sell signal in a trend is a buy signal ( another P&F saying) in fact sort of a bear trap today  )

Obviously 
Just How I see it
and why I am holding

No need for charts tonight ,really.
But should be something to see tomorrow

( look at a bar chart look at the volume and today's bar )

LOOK at the chart

and make your own mind up
do not rely on me

Appreciate the discussion .



motorway


----------



## Djayness (25 June 2008)

Well it would seem that the charters were right, broke into a motorway early this morning and headed up almost 20%. 

Ill have to read back on the posts and look at the market depth to see if theres support but to be honest, the sp has been here before and it was not much of a surprise to see it here again.


----------



## james99 (14 July 2008)

See the most recent investor publication - released today. All very positive, and of course Len Walker is to present in USA this month.

http://www.aspectfinancial.com.au/d...Jyb3JwYWdlcy9wZGZkZWxheWVkLmpzcA==&popup=true


----------



## denis_413 (16 July 2008)

hey james, the link didn't work? do you mind posting again...? currently holding cougar, linc. cheers.


----------



## james99 (18 July 2008)

denis_413 said:


> hey james, the link didn't work? do you mind posting again...? currently holding cougar, linc. cheers.






Hi Denis, below are two links:

1. The first (14 July) is as to the investor presentation (which has now occurred).

http://www.asx.com.au/asxpdf/20080714/pdf/31b4kfpf7y4m8n.pdf

2. The second (17 July) , is as to new staff, a Brisbane office and Cxy now, it seems, bieng on its way!

http://www.asx.com.au/asxpdf/20080717/pdf/31b6xxlvs0fn7w.pdf


----------



## james99 (31 July 2008)

Hello: New announcment. 73 mt JORC coal with more potentially with further drilling. Apparently sufficient for 400 mw station.


----------



## Djayness (31 July 2008)

james99 said:


> Hello: New announcment. 73 mt JORC coal with more potentially with further drilling. Apparently sufficient for 400 mw station.




Yeah supposedly it can be locally supplied for 30 years. filler......................................................


----------



## ands (31 July 2008)

Not much of a reaction despite finally getting some more solid numbers out. This company sounds like QOL, just when they are finally getting a run, a heavy release of cheap shares stops everything. CXY is getting way over diluted with all of these shares.


----------



## springhill (8 August 2008)

Ok hows this for mixed messages? Yesterdays "article" in the Australian trashs the UCG industry and paints a picture of the QLD govt being dead against it..... now today we have an announcement by Cougar informing us the very same govt has granted them an exploration license to look for coal FOR THE EXPRESS PURPOSES OF UGC! Looks to me like the article really was a load of horsesh!t


----------



## Djayness (8 August 2008)

springhill said:


> Ok hows this for mixed messages? Yesterdays "article" in the Australian trashs the UCG industry and paints a picture of the QLD govt being dead against it..... now today we have an announcement by Cougar informing us the very same govt has granted them an exploration license to look for coal FOR THE EXPRESS PURPOSES OF UGC! Looks to me like the article really was a load of horsesh!t





Well either way the market has not reacted too well to todays announcement. Im not sure if that is due to the market performing poorly today or what? The coal announcement today suggests that the UCG sector indeed has backing though. 

Quite mixed, im sure in a few days things will clear up.


----------



## Bruza (12 August 2008)

Anyone watching this today?

Doesn't look like bot selling.

Can't be still reacting to horsesh!t article?


----------



## motorway (12 August 2008)

Bruza said:


> Anyone watching this today?
> 
> Doesn't look like bot selling.
> 
> Can't be still reacting to horsesh!t article?







> *DYOR  Tomorrow can change everything*... But a real base is a real base
> Accumulation is Accumulation
> an uptrend is an uptrend ( *YES a top would look the same but on a reasonable degree what is it a top of* --- only the first high ? )
> 
> An early spike is not a negative but indigestion




There was no question it was a top

it was a question of a top of what




> LOOK at the chart
> 
> and *make your own mind up*
> do not rely on me
> ...





There was no discussion 

I ended up selling out
2/3 of my holding
Still in profit on the 1/3

will have to now reassess...

motorway


----------



## motorway (12 August 2008)

Updated chart

The Dotted line was important

is the .09 line important now ?

Still a stock well worth tracking (imo )


motorway


----------



## motorway (12 August 2008)

The chart is tracking sideways

There  were a lot of new shares issued
( indigestion! serious indigestion !  )

The excitement wore off 
and subsequently there were those news articles .

Between the excitement phase
and the production phase there often presents
good buying opportunities ( maybe )



News concerning
an overseas project
or another domestic project

Would ( could ) change things again.

etc etc 

DYOR 
For Discussion

motorway


----------



## motorway (12 August 2008)

> Think of the stages of an emerging bull trend
> 
> it starts with doubt and discovery ( this is after the smart accumulation )
> and then hesitation ( and then  well I hope we see )




After hesitation is ADORATION & MANIA

The "top" represents those stages

What follows is denial and hope-------------------------------------------------------------> Then recognition ( it was .26 and I should have etc )
Then sometimes reprieve ( a bit of bounce supply generates some bargain hunters ) But then on to a final Liquidation ( Question are we there YET ? )

And then ? it starts again

Of course that is an idealized cycle
An old saying is never stand in the way of sentiment...
No matter what ........until the cycle completes

Sentiment is one ingredient
that draws the chart..

What creates sentiment ?

DYOR
motorway


----------



## motorway (12 August 2008)

Here is finer scaled chart

a .005 X 1 

( Keep in mind the analogy of the Coastline of Britain , It gets longer but it is the same Coastline... A point P&F chartists a 100 years ago realized as they expanded and condensed their charts... But always seeing the same dynamics regardless )

Each column is created by the swing of THE pendulum
THE  Pendulum of Demand and Supply

The Dynamics of this pendulum
can not be captured by a "time Frame"
hence why a lot of TA is .... ?

The Columns tell us the highest level the bulls could move the
stock before the bears overcame them and the price moved back down.
OK 
The  columns also tell us the level that the bears could drive the stock down before the bulls overcame them and moved the price back up 

Take the midpoint of a column and compare it to the midpoint of the previous adjacent columns .

Do you see a trend ?

A trend of what ?

Lets borrow from one of those
modern "Tape Readers"

eg Fractal Finance



> An easy
> way to understand this is to consider the equilibrium point in a standard supply/demand
> market as a point attractor: any  variation around the equilibrium point would
> be the market's limit cycle.
> An Attractor refers to a region where a systems solution lies




A mid point on a P&F column has been of interest ever since P&F originated

Some more of Fractal Finance

Just look at the columns on the chart
as you read it ( remember they are the swings of the demand and supply pendulum )



> You will see that
> the position of the pendulum varies for each swing. So the pendulum will never complete
> a cycle and never duplicate an orbit. It appears to act randomly and chaotically, but falls
> within a certain range and always orbits clockwise. The pendulum is now acting as a
> chaotic or fractal attractor




Substitute to the right for clockwise 

For Discussion
DYOR

These Fluctulations ( swings ) are not of a fair coin toss

So they reveal something 

It Just sounds so like
The concept of coming to a hinge
or "Dead Centre"
not to make use of the comparison

P&F chartists discovered Fractal Finance long ago (IMO )

When they dissolved time frames 
and dealt directly with the reality of the TAPE


Quotes taken from Fractal Finance A GUIDE BOOK
Written by Erik Long

motorway


----------



## Djayness (21 August 2008)

motorway said:


> Here is finer scaled chart
> 
> a .005 X 1
> 
> ...




Sorry im not exactly sure what all that means, where do you expect this stock to be going? If I had more money I would probably be putting it in at this stage. It seems to have hit its low and is going back up.


----------



## Calliope (21 August 2008)

I'm with you Djayness. I don't have a clue what Motorway was trying to say perhaps he is having a lend of us. I am sticking with CXY anyway based on nothing more than optimism.


----------



## motorway (21 August 2008)

Calliope said:


> I'm with you Djayness. I don't have a clue what Motorway was trying to say perhaps he is having a lend of us. I am sticking with CXY anyway based on nothing more than optimism.




No way..

I pointed out that .09 might be a significant area
and it is proving so far to be so

I am pushed for time atm
I will try to post some charts later

Anything I say is only a view of the moment
with the subsequent action to confirm or negate

So if that is understood

I would agree with a view
That from .11 to the low

There were signs of re accumulation

That is what we want to see
to prove that all the earlier volume was
not just momentum

I am still holding ...

But realize it can all change

eg The whole energy sector  came off..

If you don't understand 
discuss..

We can see a lot of speculative traders came in at the top
Without all the other issues it might have found support at a higher level

After all CXY has a lot of real potential ?

What do you think ?

The emotion cycles 
occur on every scale..

someones pessimism is another's opportunity
what is your scale / time horizon ?

We all need to be a clear about that 

motorway


----------



## cordelia (22 August 2008)

Motorway..you obviously spend a significant amount of  time composing your posts which are quite complex. But what is the point if no one can understand what you are trying to say? I for one would actually be interested in the point you are trying to make...but quite honestly, I don't get it....please elaborate


----------



## motorway (22 August 2008)

Cordelia

Try this chart  for a start.

The thin red line
is the immediate trend.

The grey Xs are the fluctuations around that trend
They are the fluctuations that are producing the trend.

demand and supply swing price back and forth like a pendulum
Each X is a unit of .01 cent

The red line is the moving pivot ( equilibrium ) point of these swings .

The fluctuations are not in clock time
But We could call it transaction time
in the mkts own time ( So the real pattern can be revealed )

You can see how volatility shrinks and expands around the immediate trend

( talk about that in a moment )

Once some sort of intermediate trend is underway ( So the swings are not random ) There is movement along the 45 degree lines ( the thick red ones )

There is also the green trend channel
picking up a coarser frame, an investors frame..

Ok note the volume histogram
The max volume has occurred along the .09 line

note the two blue curve lines
I am highlighting two patterns
that are very similar
consider that emotion cycle

Doubt,Discovery,Hesitation,
Adoration, MANIA, Denial
Hope, Recognition, REPRIEVE ( The secondary bounces )
Liquidation
( maybe PANIC )

and on to--------> Recovery----Doubt 

Have a good look at these two patterns on the chart
then see if you can assign the sentiments

note how I said they occur on all scales

OK  Now note the two blue arrows

This is where We are NOW
This is where We were THEN

( The nature of this chart linear Scale means there is more detail in the
pattern at the higher price level, But Do you see how much the same they are ?  The sentiments that drive the market are ageless ... This is just one version of them )

So where does it go now ?

In the last three columns Volume has picked up
esp at the .10 line

Any resiliency ( price action that springs back up from being pushed down )
around this level

Could be a BUY signal
The chart slowing ( That is the Xs post at a slower rate )
And increase in volume
Could be a Buy signal ( I can not give advice  )

Maybe you understand the term dead centre
Now ? Those swings ( Fluctuations ) around the immediate trend subsiding.
As demand and supply come into balance .

We want to see the chart
meet strong support here ..

You can think of these patterns as bubbles that are blown 
By those who buy the bulges...

The chart is at  a logical danger point
That .09 line could become resistance

( A Wyckoff analogy is falling thought the ice of a frozen creek..To get back up
and not drown is hard because , the current sweeps you along and you are trapped under solid ice )..

But it is not resistance yet
and at the danger points 
is the max opportunity
( The opposite of the tops of the manic bubbles , I also call them conveyor belts )

After all . The green channel is an uptrend channel.
and the correct question is why that is so
( The fundamental story ? )

motorway


----------



## WindriderAU (22 August 2008)

Thanks Motorway for the great post about the chart. I am still learning, so always keen to understand how various people interpret the charts. 

At the moment it sometimes seems like someone is reading tea leaves, appears to be a bit of subjectiveness to some charts, but I am learning, learning, learning.

Question - sometimes you have numbers in the chart instead of an 'X'. What do the numbers mean?

Thanks


----------



## motorway (22 August 2008)

WindriderAU said:


> Thanks Motorway for the great post about the chart. I am still learning, so always keen to understand how various people interpret the charts.
> 
> At the moment it sometimes seems like someone is reading tea leaves, appears to be a bit of subjectiveness to some charts, but I am learning, learning, learning.
> 
> ...




The numbers correspond to the months of the year
1 to 9 is  jan to Sept  A B C is Oct Nov Dec...

You use them for comparisons
and to aid in gauging the speed, the dullness or activity.

It is an easy chart to keep by hand ( Computers are still catching up to hand drawn charts )

Grab some 2 mm Graph paper and a good pen...
You can draw your chart form the course of sales

.01 is a good box size ( for CXY ), This is a one box reversal chart , note that there can be two X in the one column and never just one.
Coordinate with a bar chart

Such a chart will teach you a lot of how stock fluctuations really move.
About support and resistance, markup and mark down , about pattern about time..
About how prices move in waves ( Buying and selling waves )
and a lot more...

As well as doing that you could find a virtual random coin toss on the web and graph a chart from the random tosses that are made..

You maybe soon spot the differences
and will never believe anyone who tells you stock prices are random..

This form of charting is grounded in Supply and Demand
and the flow of information...

motorway


----------



## cordelia (23 August 2008)

thanks very much for the fanatastic explanation..Its certainly very clear and easy ier to understand Makes sense now......


----------



## WindriderAU (26 August 2008)

Motorway, thanks for the explanation. I am still missing a bit, so if you could help that would be great.

On the chart graph itself, the chart is made up of 'X's. But splashed throughout the 'X's there are those numbers you mentioned and the ABC, but I don't understand why the replace the 'X's. For example in May the charts are made up from the following characters: X, A, B, C, 4, 5, 6, 8, 9.

Not sure what the characters apart from the X represent in this area of the chart. If they do represent Jan - Dec, then what significance do they have at this spot on the chart.

I imagine you are busy like the rest of us, so I appreciate your time.

Thanks


----------



## rhen (26 August 2008)

Purchased some CXY today on the basis that LNC had left my bid behind and the fact that my chart gave a buy signal for Monday. Nearly pulled out when I heard what the DJones did this morning. Looks quite positive from a (my) fundamental point of view too. It still is speculative and the risk is high. DYOR.


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## motorway (26 August 2008)

WindriderAU said:


> Motorway, thanks for the explanation. I am still missing a bit, so if you could help that would be great.
> 
> On the chart graph itself, the chart is made up of 'X's. But splashed throughout the 'X's there are those numbers you mentioned and the ABC, but I don't understand why the replace the 'X's. For example in May the charts are made up from the following characters: X, A, B, C, 4, 5, 6, 8, 9.
> 
> ...




No the years are at the bottom

The A is the start of October in 2007
B is the start of November
C December

The 1 is Jan in 2008
2 is Feb and so on
to 8 which is the start of August

IF the chart moves into September then a 9 will appear 

Make sure you click on the chart to expand it
Often you have to click then again.

motorway


----------



## WindriderAU (27 August 2008)

Hi Motorway, if I could work out how to paste an image, then I would. But in your chart (not the months at the bottom of the screen). The graphs are made up of X's and letters ABC, and numbers. Was just curious what they represented  whilst placed in the graphs. Maybe it is just my browser, everyone else might be seeing just X's.


----------



## motorway (27 August 2008)

The numbers at the bottom are the YEARS

Not the Months


So the 05 is the year 2005 --- NOT MAY

The numbers and letters that replace the Xs in the charts
Are the Months...



> Doubt,Discovery,Hesitation,
> Adoration, MANIA, Denial
> Hope, Recognition, REPRIEVE ( The secondary bounces )
> Liquidation
> ...




-------> Hesitation ??

The two poles simply are FEAR and HOPE...

These two create all Herding behavior ( Think of a herd of antelopes. )

Between fear and hope  ....lay doubt & hesitation ( think about it 

This basic ageless ( instinctive ? ) pattern
is what makes the patterns...

Fear is an event
To get to hope is a process..

Once bitten TWICE SHY etc

These patterns create the opportunities
These patterns we might call Fractal .
Or if there are fractal patterns this is a big reason why.

You can see Time is a different thing here

How old are a smokers lungs ?
How old will they become ?

Same with these patterns
in what time do they unfold?
How will we measure them ?

Such are some of the Whys
behind this this type of charting
and you can do it and learn it with just  a pen and paper 

motorway


----------



## WindriderAU (27 August 2008)

Aha. Knowing that the numbers at the bottom of the chart are the years makes it all clear now.

Thanks


----------



## Djayness (9 October 2008)

Has anyone got any explanation of the share price at current. It seems like alot of options are being exercised but surely that cannot be the only contributer to the sharp falls we have seen in the last few days.

Motorway, do you have any updated charts on this share?


----------



## motorway (11 October 2008)

Djayness said:


> Has anyone got any explanation of the share price at current. It seems like alot of options are being exercised but surely that cannot be the only contributer to the sharp falls we have seen in the last few days.
> 
> Motorway, do you have any updated charts on this share?




Any one stock is a microcosm of the big picture ( nightmare ? ) that is in play and unfolding...

Those drivers 







> Doubt,Discovery,Hesitation,
> Adoration, MANIA, Denial
> Hope, *Recognition*, REPRIEVE ( The secondary bounces )
> *Liquidation*( maybe *PANIC* )
> ...




Are forces operating on a huge scale

To ask why is xyz going down is like asking why something falls down in an earthquake...

There is a total wash out of leverage and speculation

Stocks are falling because they can be sold
and stocks with the most speculative followings are falling the most..

We did see significant speculative activity in CXY

so it is a little  part of the great unwinding.

As is commodities and energy

OIL prices ?



> "It is difficult to over-emphasize the importance of studying the technical position, particularly when making a speculative commitment. Many people may say, "What is a weak or a strong technical position?"
> 
> My reply is, in brief, that a stock is in a weak technical position on the bull side when it has been purchased and is held by a large number of outside speculators; when most of these are looking for a profit;
> 
> ...




speculation , leverage
A great unwinding

Liquidation and Panic
Will build a Strong technical position
when it stands to reason that------>



> The multitude of small traders must be, *as a plain necessity*, out of the market at the bottom.




-----> *As a plain necessity...*

CXY like everything else will stop going down
after "You" sell

just like it stopped going up after "You" bought

Who ever "_YOU"_ is 
Try and make sure it is not *YOU*

Ok so when is CXY a buy and is it a buy 

That is your call...

The Charts are fine in context imo 

Some comment from Jim Rogers ( a commodity and energy Bull )



> *There are not many safe havens in the volatile markets*, he said.
> 
> "I have an enormous amount of cash and I've been using it to buy more Japanese yen, more Swiss Francs, more agricultural products… there's a liquidation phase going on, where everything is being liquidated. They're selling everything in sight."
> 
> "In a period like this the way you make money coming out of it is to own the things were the *fundamentals have not been impaired*,"




Very Important Point

What is the energy story going forward ?

Is CXY unimpaired when  mkts "come out of it "?

What is the timing ?

Everything is as much a market story atm
as an individual one

motorway


----------



## Doris (29 November 2008)

New Tarong Power station... should that insure CXY as it supplies 100% of the coal? 

Part of one of several anns this week:

25 November 2008
*COUGAR SECURES 100% OF KINGAROY UCG PROJECT AND EXPANDS SURAT BASIN COAL INTERESTS*

Cougar Energy Ltd (ASX Code: CXY) is pleased to announce that it has signed an Agreement with Cockatoo Coal Ltd (“Cockatoo”) to acquire Cockatoo’s interest in the Kingaroy Underground Coal Gasification (UCG) project area in Queensland.

The Agreement also provides Cougar with a *more flexible access to additional Surat Basin coal leases*, which could in turn generate a large coal resource suitable for the development of a second UCG project in that State.

The acquisition of Cockatoo’s interest in the Kingaroy UCG project area will secure for Cougar a *100% ownership of the proposed Kingaroy UCG Power Project*, which involves the planned construction in stages of a 400MW power station.

Significantly, this Project is contained within lease areas which are free from any overlying Petroleum tenements, as past drilling has indicated no evidence of any contained methane in the coal seams.

In the current climate of potential conflict between companies with rights to access the same coal seam for either coal seam gas or UCG production, this creates a great degree of certainty in Cougar’s planning for Project development.

The area designated for the Kingaroy UCG Power Project (refer Figure 1 attached) lies within Exploration Permit for Coal (EPC) 882 owned by a subsidiary of Cockatoo. The area is divided into two parts, an area covered by Mineral Development Licence Application (MDLA) 385, which is currently awaiting grant, and a northern area which will be the subject of an additional MDLA. The Agreement provides for Cougar to own 100% of both MDL’s once receipt of Ministerial Approval has been received.

The Cougar-Cockatoo Agreement provides for the issuing to Cockatoo of 15 million CXY shares following grant and transfer of MDL 385, and the submission of the new MDLA for the northern part of the designated area.

The Board of Cougar is extremely excited to have finalised the Agreement to acquire the balance of the Kingaroy UCG project, which ensures that it can be developed free from the responsibilities associated with meeting any relevant joint venture requirements. The project is *currently moving ahead on schedule* with the continuation of the drilling program on site to collect design data for the pilot burn, and to install groundwater monitoring equipment. Final design for the gas processing plant has been completed and manufacture of key plant items is in progress.

*Surat Basin Coal*
Under Farm-In Agreements previously entered into with Cockatoo subsidiaries, Cougar had certain rights to earn equity interests in a number of Surat Basin Coal Leases.
Under the current Agreement, Cougar retains the right to investigate and develop certain Surat Basin coal leases held by Cockatoo which may be suitable for underground coal gasification (UCG), and grants to Cockatoo the right to investigate for open cut coal on EPC1118.
The Agreement provides that any coal deposits deeper than 150 metres which Cougar establishes to be suitable for UCG development, and which do not interfere with coal suitable for open cut mining, will be transferred to Cougar. The consideration to be attributed to any such transfer will be limited to the expenditure incurred by Cockatoo and its subsidiaries in delineating the UCG deposit...


----------



## motorway (3 January 2009)

> speculation , leverage
> A great unwinding
> 
> Liquidation and Panic
> Will build a Strong technical position




a strong technical position = a zone of value

3 drives to new low ground

=Supply overcoming Demand

All good things
inevitably will be in Bull Markets
that will exceed the bear phases
both by price and time ( dyor )

as long as the Sun comes up
and life moves on. The whole world has to be long stocks.

A zone of value
= Demand meeting Supply
A balance point obtained in context of where from ( downtrend )

Strong and Weak Hands..

looking for 

new high ground
+ that ground able to hold ( rising points of support )
= some absence of offerings ( supply )



motorway


----------



## james99 (25 March 2009)

Well CNX up 22%, CXY up 6%, LNC up 4%, MLM up 11%. I even bought a few.

The sector is, I think, coming back into focus.


----------



## motorway (25 March 2009)

Found support

mid pattern rally

broadened that support   Looks like a reversal pattern

Looks like CXY is at least in someones focus

The congestion holding ground gained , in the recent move off support.

Would classically be defined as BULLISH 

But in this particular case ? 

I hold

motorway


----------



## springhill (2 April 2009)

Cougar has moved from Trading Halt to Suspension from Official Quotation. Ive had no experience with this before in my portfolio
What is the difference between the 2 and what are the possible reasons for SOQ?


----------



## Nizam (3 April 2009)

springhill said:


> Cougar has moved from Trading Halt to Suspension from Official Quotation. Ive had no experience with this before in my portfolio
> What is the difference between the 2 and what are the possible reasons for SOQ?




The way I see it is as the stock was on the rise rapidly, someone must have known something the rest of us didn't. The asx calls it insider knowledge (trading); not necesarrily from Cougar, maybe another interested party. As the stock was on the rise it presumes good news. The only way to put a stop to this kind of carrying'on is put a stop to trading. Watch what happens today. I feel we are all in for a good, big surprise.


----------



## motorway (3 May 2009)

A bout of indigestion
from the look of the chart

False Catapult
collapse back into the Fulcrum base

looks to have found support

_Looks_ to be building a larger reversal formation

In a buy zone (IMO )  50% zone ...

dyor

I hold

motorway


----------



## YOUNG_TRADER (3 May 2009)

motorway said:


> A bout of indigestion
> from the look of the chart
> 
> False Catapult
> ...




 Ummm hey Motorway I understood some of that but not most of it, care to put it again in laymen terms for a chartiing noob like myself? 

From what I can see 6c looks like good support, especially since 70M shares were recently placed at that level to Melbourne Capital, 7.5c looks like resistance, be interesting to see if it can push through that


----------



## motorway (4 May 2009)

Well if you look at the chart you see a good base

With a mid pattern rally 

Flat bottom... all good ACCUMULLATION SUPPORT

It then moves up

But CXY did the placement = indigestion

So there is churning and a fall back into the base pattern

BUT it did not go all the way back to the bottom
it has found support ,So all things, it is forming a larger base

IT had to with the extra shares 

The placement in context is a good sign

Company seems to be acheiving

So a bit of indigestion
but then maybe a breakout next time

So with the support here
and unlikely to go lower ( chart )

Here is a good entry point all things considered ( this zone )

At resistance the risk is it moves back down again
wait for lower prices , does not look so likely

downside risk looks low
upside looks good

The action ( buying and selling ) has produced the base

looks a bottom.... Also the company could provide a news stream

good interest already

DYOR  

I have followed the stock for a long time
It owes me nothing

Just look at the chart -- what do You see
It is a classic looking accumulation base

The indigestion would be a negative sign
if there was no placement

*( supply swamped demand )
*

But there was. So a few hicups before the breakout ( maybe  )
shares seems to be being bought
move back down OK at this stage

chart looks small scale
but nearly a year of action here ( action , just the action , no noise )

motorway


----------



## springhill (13 May 2009)

HIGHLY unusual volume for for Cougar today
Sellers have been being soaked up rapidly for days now
A big leak of upcoming news, or just more money flowing into a heating up energy sector?


----------



## ands (14 May 2009)

Incredible. Held 8.5c on high volume for a few days, (mass buying, mass selling). Strong finish yesterday, even climbed 0.6c during CSPA yesterday for a total gain of 1.5c (18.29%) for the day. Now today (high volume again on a terrible day on the market), it was sold down to 9.2c and in 20mins recovered to touch 10.5c.


----------



## ands (2 June 2009)

CXY is revisiting the last time resistance of the 10.5 and seems to be faring much better this time (closed at 10.5c bid, 11c sell, touched 11.5c during trading). Support building below, but still some big sell orders. 

CXY's 2nd QLD project, the Wondoan Project in the Surat Basin is being drilled this month with an initial JORC compliant coal resource of between 200 - 300 million tonnes. Six holes drilled in this area November last year, intersected coal seams suitable for application of the UCG process. Add this to the fact that they are also commencing a funding roadshow this month in an attempt to get funding for a 400MW power station in Kingaroy, QLD. This could be an interesting month!


----------



## motorway (14 June 2009)

Following on from the recent posts I made

Since that "indigestion"   ( The congestion with the 4 in it )

The action on the chart is of continuing acccumulation
The excursions that get a bit ahead
are to the upside.( Gives the bullish pattern ). The zone of support is broadening and level (points ) of support are rising

The congestions patterns are neat and "well formed" at the base
with backing and filling moving off the bottoms...

Take the name of the stock and the scale from the chart

look at it with unbiased eyes
And this (weather ) map of demand and supply
points to some sort of upward breakout


We can identify "conditions" that tend to outcomes ( eg Storms or Sunny days)

*But the outcomes themselves are never certain ..
*
So dyor and analysis 


motorway

.005 x 1
.005 x 5


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## springhill (25 June 2009)

Pattersons have just initiated coverage on CXY with a BUY recommendation with a target price of 20 cents (current price 10 cents)

Several interesting snippets

"Our NPV of $0.19 per share is based on cashflows from the power
project. The power station will have an installed capacity of 186MW
in the first phase by 2013 and a total capacity of 400MW by 2015. Electricity generated is expected to be
low cost, at below $30/MWh compared to power prices forecast to
be over $50/MWh from 2013 and beyond for a total capex of $500m "

"Over the past 12 months CXY and the rest of the UCG sector, within which we include CNX, REY, LBY
and LNC, have performed poorly. This is largely a result of the general falls in the share market but
also specifically due to the big falls in the oil and energy sector. Linc was considered the leader in the
sector and setbacks in its planned coal-to-gas-to-liquids project have also reflected negatively on the
UCG sector.
It must be understood that the three clear leaders in the
field are LNC, CNX, and CXY but also that they each have slightly different UCG processes and
different products. LNC is focusing more on liquids, CXY more on electricity and CNX on a combination
of chemicals and electricity.
 At this stage, however, it now appears that its two smaller rivals, CNX and CXY have
overtaken LNC in their timelines for first phase production"

"Cougar has a technology partnership with Ergo Exergy Technologies Inc of Canada. Ergo Exergy’s UCG
technology was used at the Angren (Uzbekistan) site for over 40 years, which was then transferred to
the Chinchilla, Queensland site in 1999 and used by Linc at the time. In 2007 Ergo successfully
commissioned the pilot burn for the 2100 MW Majuba UCG power project in South Africa for Eskom
(the state power monopoly in the country)."

"Cougar will be a baseload electricity generator and will likely enter into long term offtake contracts
with one or more of the large distributors in Queensland or in the rest of the NEM. The Kingaroy
Project is 20 kilometres from the Tarong Power Station and its associated electrical sub-station and is
therefore in close proximity to the Queensland electricity grid. This mitigates the costs of power line
construction and connection costs."


----------



## Dukey (25 June 2009)

CXY has certainly been looking strong lately. Does anyone know the current situation on the pilot burn? ... it was originally scheduled for July - but I haven't heard if it's still on target, or been delayed  for whatever reason.
Either way its starting to look like Dr Len is DA Man ! The experience of Ergo energy and Dr Lens chinchilla burn is invaluable.

In here soon me thinks.....

-D


----------



## springhill (25 June 2009)

Dukey said:


> CXY has certainly been looking strong lately. Does anyone know the current situation on the pilot burn? ... it was originally scheduled for July - but I haven't heard if it's still on target, or been delayed  for whatever reason.
> Either way its starting to look like Dr Len is DA Man ! The experience of Ergo energy and Dr Lens chinchilla burn is invaluable.
> 
> In here soon me thinks.....
> ...




Here you go Dukey, further info on the pilot burn....

The commissioning (ignition of coal) of the pre-production burn is
targeted for November/December 2009 and the gas burned at this
phase will be flared. While the Queensland Government is
processing the permit to allow the pre-production plant to be
constructed and commissioned, Cougar has already received and let
tenders for plant and equipment.


----------



## Dukey (25 June 2009)

Thx springhill.  I didn't realise it had been put back so far.
still - Dec will be here before we blink.....
might jump in anyway.


----------



## springhill (25 June 2009)

Dukey said:


> Thx springhill.  I didn't realise it had been put back so far.
> still - Dec will be here before we blink.....
> might jump in anyway.




You're welcome mate, heres some further timeline targets for upcoming progressions

Pre-Production Commissioning Q4 2009-Q1 2010
BFS Q2-Q3 2010
Licenses & Permits Q3 2009-Q4 2011
Long Lead Items Procurement Q3 2010-Q4 2011
Project Funding Q4 2010
Plant Construction Q1 2011-Q4 2012
Production Q1 2013


----------



## Jerstir (13 July 2009)

Hi guys,  I just started looking at CXY and it sounds like a great story.  I've researched them to a degree and their technology expertise looks solid with the link to Ergo Exergy and the Boss'  connections but I haven't found much in the way of their track record on obtaining funding.  

It looks like they need about $350M to commission the power generation component of the UCG project (the part that brings in the $$) and their last cap raising produced $4M.  Different circumstances & requirement but what is the consensus on them getting the $$ to commercialise this or have they hinted at a partnership???  From what I've read they seem to want to go it alone...  Any insights??


----------



## springhill (14 July 2009)

Jerstir said:


> Hi guys,  I just started looking at CXY and it sounds like a great story.  I've researched them to a degree and their technology expertise looks solid with the link to Ergo Exergy and the Boss'  connections but I haven't found much in the way of their track record on obtaining funding.
> 
> It looks like they need about $350M to commission the power generation component of the UCG project (the part that brings in the $$) and their last cap raising produced $4M.  Different circumstances & requirement but what is the consensus on them getting the $$ to commercialise this or have they hinted at a partnership???  From what I've read they seem to want to go it alone...  Any insights??




This may help in your query on the funding aspect

http://www.asx.com.au/asxpdf/20090504/pdf/31hdp1q6lk371q.pdf


----------



## Jerstir (16 July 2009)

Thanks muchly, that's what I was hoping for....  I guess the next step is feedback on how their roadshows are received..


----------



## springhill (31 July 2009)

CXY have released their 2009 EGM presentation

http://www.asx.com.au/asxpdf/20090731/pdf/31jv6grwlpqnl4.pdf

Im very much liking the fact they have access to coal seams greater than 150m depth for UGC on Cockatoo Coal's adjacent tenemants


----------



## ColB (27 August 2009)

Summary of todays ASX release



> "...Development Engineering Pty Ltd (EDE) will undertake all earthworks, civil works, mechanical, piping, electrical and instrumentation works at the Kingaroy site. Fabrication of pressure piping will begin in August and mobilisation to site is targeted for 1 September 2009.
> 
> The “Mineral f” permit required under the Queensland Mineral Resources
> Act has been received, enabling Cougar Energy to specifically establish a UCG
> ...




A few good sales at 10c after market release before a few profit takers moved in from earlier buys.  I'm no chartist but it looks like this one may be ready to go.

Footnote:  I hold all these CSG plays


----------



## ands (27 August 2009)

This share has seemed so promising for so many years, but it can't maintain anything about 10c. Wait for the funding announcement, that might help it out a bit. Disc: I don't hold.


----------



## springhill (27 August 2009)

ands said:


> This share has seemed so promising for so many years, but it can't maintain anything about 10c. Wait for the funding announcement, that might help it out a bit. Disc: I don't hold.




The way they have cheap as **** options backed up it may be a while before this breaks out of this trading range. I happily hold.... for the long term


----------



## ands (29 August 2009)

Well a funding announcement of sorts... another capital raising... When I first noticed this stock in Feb 2007 there was 340 million shares on issue (SP was 3c), now in August 2009 before taking into account this newly announced raising there is 671 million shares on issue (SP is 9.6c). In reality the market cap has gone from $10.2 million to $64.4 million in 2 and a half years, but dilution has killed off any great SP increase. The lowly shareholders (apart from option holders converting) have never had access to any of these capital raisings!


----------



## wanlad1 (23 September 2009)

CXY should rocket today as has all the fuel aboard

-	First indication – Power spike in volume 14th Sept
-	Following days falling volume price staying within range
-	14th & 17th Equal bottom, importance those that missed the opportunity on power volume day had the second opportunity to enter
-	High Alert with 2 inside green days 18th & 21st Sept on even less volume, indicating sellers drying up.
-	22nd another power volume day and break out of the range from .084 to .09 very bullish expect higher prices from here


----------



## ColB (23 September 2009)

> Originally posted by Wanlad1 at *9.22am this day*:
> 
> CXY should rocket today as has all the fuel aboard
> 
> ...




Luv your work Wanlad 

Took some profit off the table today but still hanging on to some and also taking up the recent SPP offer at 8.25c (closes 29 September for those that were holder prior to trading halt)

Eligible for up to $15k worth dependant on final demand - $6 million available

Nice earn for those that subscribe


----------



## Dukey (22 October 2009)

Finally back in on CXY - a couple of weeks back actually.
With infrastructure appearing on site and corporate deals happening it seems things are really starting to move along and looking good for CXY when the testing starts. 
so decided to bite the bullet, get in and wait for the good news!!!

g' luck all.
- D.


----------



## Dukey (1 February 2010)

Have been surprised by the lack of comment from anyone about the SP and volume spike in CXY last week (see basic comsec chart).

The announcement was about a methane production joint venture, but I think the market reaction which saw volumes increase from around or under 1Mill shares per day - increase to the 15 to 20Mill share per day range - shows that there are many folks watching closely as the time for the Pilot burn in Kingaroy draws near. ALso appeared to be plenty prepared to take some profits on friday.
... interesting times for CXY and the UCG sector.


... is there anybody .... out there?   (cue eerie pink floyd music):band


----------



## Dukey (5 February 2010)

CXY holding up well so far in todays carnage  - possible due to recent announcement that all is on schedule, on track and within budget for UCG pilot burn late Feb or early march.

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01034935

Another interesting factor (garnered from the LNC thread - Thx Basilio - nice post there) - is that LNC appear to be changing their strategy to fast track their UCG direct power generation plans..... which is apparently much simpler than the GTL process....  sad to say it's looking like CXY might beat them all to the punch on that one.

Good luck to anyone who picked up in the early drop today! It would've taken some guts in this warzone - but I think you're on a good thang. Patience is the key.

all just IMO of course.


----------



## Dukey (26 February 2010)

Well - here I am again!

Latest commentary - CXY spent some time bashing up against 10.5 c..... finally busted through to 11c on monday... hitting 12.5c yesterday and holding 12c today.
Not a bad effort I thought. considering the number of shares in the sell columns. Obviously plenty of buyers out there too.
An interesting chart posted below I think - but would love to hear what some dedicated chartists think about the movement over the last couple of weeks.... someone.... anyone!!!!!!!!!!!!


----------



## basilio (5 March 2010)

Seems to be some concerted buying for Couger. Big volumes and now at 14c. Finally score a (temporary) winner.


----------



## Dukey (6 March 2010)

basilio said:


> Seems to be some concerted buying for Couger. Big volumes and now at 14c. Finally score a (temporary) winner.




yes - very nice steady rises - seemingly 0.5c at a time, then steadying, then on again and looks poised for more as expectation of pilot burn builds...
can't.... be.. long...now.  must...hold ...on...
CXY finally bearing fruits... and geez I'm glad to see I'm not entirely alone here.... was beginning to feel like me and 'uncle' Len are the only shareholders!


----------



## Red Fatboy (8 March 2010)

Dukey,If comment on whats happening with Cougar at the moment is what you are after, I suggest you have a look at the HotCopper site as there are a lot of people interested in how they are progressing with the intending pilot burn. It doesn't seem that too many people on this site are interested in this company, and your earlier pleas have been met with silence.


----------



## TheAbyss (8 March 2010)

I am in with you boys. Bought in on 4th Feb 2010 on the strength a broker comment on Sky business one night who said CXY were the UGC player of choice due to their backing etc.

Don't know too much other than that but enjoying the trip so far.


----------



## Dukey (8 March 2010)

TheAbyss said:


> I am in with you boys. Bought in on 4th Feb 2010 on the strength a broker comment on Sky business one night who said CXY were the UGC player of choice due to their backing etc.
> 
> Don't know too much other than that but enjoying the trip so far.




cool abyss - glad to see 4 of us here now! 
red: I havn't been on hotcopper for a long time. got sick of having to read so  much unmoderated dross and general abuse/ramping up and down etc.
having said that - aussiestocks has been a bit quiet - at least in terms of csg / ucg poster lately.... very boring. 

but when big stuff happens people come out of the woodwork - like AOE today.. amazing.  
When CXY report  the pilot burn, i think we'll see a few more heads turn towards them. the re-ignition of the CSG sector won't hurt either.


----------



## Woodsy58 (9 March 2010)

Better make that 5 of us Dukey, bought late last year, very happy today....I thought CXY was going to be left behind in the UCG race.


----------



## Dukey (9 March 2010)

Woodsy58 said:


> Better make that 5 of us Dukey, bought late last year, very happy today....I thought CXY was going to be left behind in the UCG race.



  The thing I like about CXY - that really attracted me to them was that their technology is tried and proven and their plan is very direct:
Burn UG coal and extract gas >> make and sell power.  

No mucking around with fancy unproven technologies. They can get into that later - once an income stream is happening. First things first - Sell power and make a profit!

plus - with a low starting SP - the potential for increasing in multiples is (or seems?) greater. Weighing against that is ALOT of shares on issue - but that hasn't stopped some good gains in the last couple of weeks - before the pilot burn has even happened.
Personally I'm much more likely to buy more than sell anytime soon. 

good luck to all who sail the goodship CXY! D.


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## springhill (9 March 2010)

Dukey said:


> The thing I like about CXY - that really attracted me to them was that their technology is tried and proven and their plan is very direct:
> Burn UG coal and extract gas >> make and sell power.
> 
> No mucking around with fancy unproven technologies. They can get into that later - once an income stream is happening. First things first - Sell power and make a profit!
> ...




Hey Dukey also holding CXY, at current SP gives a MC of approx $100 million... seems to be room for improvement there compared to CNX who have a MC of approx $300 million (would be more if it wasn't for the 6 weeks delay).
On the down side they have a few dirt cheap oppies to plow through first, which is disappointing.
Nonetheless def holding for the long term, bring on the burnnnnnnn!


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## Dukey (10 March 2010)

springhill said:


> Hey Dukey also holding CXY, at current SP gives a MC of approx $100 million... seems to be room for improvement there compared to CNX who have a MC of approx $300 million (would be more if it wasn't for the 6 weeks delay).
> On the down side they have a few dirt cheap oppies to plow through first, which is disappointing.
> Nonetheless def holding for the long term, bring on the burnnnnnnn!



here's a bit of shameless promo by Dr Len talking to the US.

http://www.osixmedia.com/home.aspx
scroll down in the frame on the right where you see the faces - about half way down you'll see Unca Len! 

... a good overview and nice to hear him spruiking the US!


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## birdmanz (15 March 2010)

springhill said:


> Hey Dukey also holding CXY, at current SP gives a MC of approx $100 million... seems to be room for improvement there compared to CNX who have a MC of approx $300 million (would be more if it wasn't for the 6 weeks delay).
> On the down side they have a few dirt cheap oppies to plow through first, which is disappointing.
> Nonetheless def holding for the long term, bring on the burnnnnnnn!




Not sure what your meaning re: dirt cheap oppies to get through???..........
the cheapest represent less than 1.7% of shares on issue 15.4 mil @ 10c then another 19.4 mil @ 15c, 20c, 25c


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## springhill (15 March 2010)

birdmanz said:


> Not sure what your meaning re: dirt cheap oppies to get through???..........
> the cheapest represent less than 1.7% of shares on issue 15.4 mil @ 10c then another 19.4 mil @ 15c, 20c, 25c




My mistake birdmanz, was under the impression the 3 cent oppies were still on the table, but they expired Oct 09.
A concern of mine that has now been cleared up.
Thanks for bringing that to my attention


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## Dukey (17 March 2010)

successful ignition of pilot burn today - with syngas produced through the system.  surprisingly met with a SP drop which would suggest a few profit takers as there always is in these situations. It's possible that the value of the ignition was already built in to SP, at 14 - 15c levels.... but on the other hand, it didn't take long to eat through the sellers a couple of weeks back, so we'll see what happens when sellers dry up next time around.
g'luck all - d


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## profitmann (17 March 2010)

It will take years to develop the commercial viability of UCG. If there are any Geologists and Hydrologists out there they will vouch for the fact that not all Coal deposits suit UCG. BTW where are the "Off-Take" agreements???. Power station - yer right....how many years for that? How many UCG wells to get the commercial quantities of Syngas to run a Power Station that actually sells power into the grid???. Meanwhile when the cash runs out because they all use conventional hard rock or exploration Drill Rigs to drill UCG wells and they cost a bomb because they are so slow they will have to skin some more Spivs who believe. More  promote - more captial raise - more skinning, more pormote and around we go, the dream stays alive until the market realises a bust here we come!!


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## Dukey (18 March 2010)

profitmann said:


> It will take years to develop the commercial viability of UCG. If there are any Geologists and Hydrologists out there they will vouch for the fact that not all Coal deposits suit UCG. BTW where are the "Off-Take" agreements???. Power station - yer right....how many years for that? How many UCG wells to get the commercial quantities of Syngas to run a Power Station that actually sells power into the grid???. Meanwhile when the cash runs out because they all use conventional hard rock or exploration Drill Rigs to drill UCG wells and they cost a bomb because they are so slow they will have to skin some more Spivs who believe. More  promote - more captial raise - more skinning, more pormote and around we go, the dream stays alive until the market realises a bust here we come!!




let me guess profitman.. you've gone short right? 

I don't think anyone here is naive enough to think this is gonna be selling elec. overnight. But the successful ignition is a milestone nonetheless, increasing confidence in the long term viability.

As for the coal deposit suitability - I'd be fairly certain that the team CXY has is capable of assessing the suitability. If they can't do it - with ergo on board - then nobody can! 

... PS... re offtake agreements... there appears to be some interest from some insignificant, unknown Qld electrical mob ....   this from http://www.cougarenergy.com.au/pdf/ASX_Announcement_Agreement_with_Ergon_Energy.pdf



> Cougar and* Ergon *working together on potential off-take of electricity in Cougar’s pre-production phase via Ergon Energy as well as transmission line configurations for the life of the Kingaroy project




Generally - she certainly took a hit yesterday - I guess that was those short term holders/traders (or maybe just 'profitman'!) bailing out after the news, as tends to happen.


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## birdmanz (19 March 2010)

profitmann said:


> It will take years to develop the commercial viability of UCG. If there are any Geologists and Hydrologists out there they will vouch for the fact that not all Coal deposits suit UCG. BTW where are the "Off-Take" agreements???. Power station - yer right....how many years for that? How many UCG wells to get the commercial quantities of Syngas to run a Power Station that actually sells power into the grid???. Meanwhile when the cash runs out because they all use conventional hard rock or exploration Drill Rigs to drill UCG wells and they cost a bomb because they are so slow they will have to skin some more Spivs who believe. More  promote - more captial raise - more skinning, more pormote and around we go, the dream stays alive until the market realises a bust here we come!!




Profitman....with a little research one would know the coal seam has been through the testing phase to determine it's suitability......they do know what they are doing.


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## profitmann (20 March 2010)

birdmanz said:


> Profitman....with a little research one would know the coal seam has been through the testing phase to determine it's suitability......they do know what they are doing.




Give me a call when they have a commercial UCG Field - BTW how may Wells does it take to get a commercial field producing sellable Syngas??? Research...research ....research!!!


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## Dukey (20 March 2010)

profitmann said:


> Give me a call when they have a commercial UCG Field - BTW how may Wells does it take to get a commercial field producing sellable Syngas??? Research...research ....research!!!




So.. profitmann - instead of turning up and bagging everything about CXY or UCG for whatever reason - how about adding something useful to the discussion and sharing your *obviously vast knowledge of everything about everything !....*..   and tell us how many wells you think they will need?


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## ColB (20 March 2010)

> Originally Posted by profitmann
> 
> Give me a call when they have a commercial UCG Field - BTW how may Wells does it take to get a commercial field producing sellable Syngas??? Research...research ....research!!!






> Originally Posted by profitmann
> 
> Give me a call when they have a commercial UCG Field - BTW how may Wells does it take to get a commercial field producing sellable Syngas??? Research...research ....research!!!






> Originally Posted by Dukey
> 
> So.. profitmann - instead of turning up and bagging everything about CXY or UCG for whatever reason - how about adding something useful to the discussion and sharing your obviously vast knowledge of everything about everything !...




Well put Dukey!   4 Post Profitmann and not a positive comment to be found in any of them. If you take Profitmanns advice LNC is doomed as well.  I'm tipping profitmann hasn't been too profitable lately and needs to vent his frustration somewhere.  How about a positive story profitmann like what would you suggest to invest in or trade to make a dollar and why?


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## profitmann (2 April 2010)

ColB said:


> Well put Dukey!   4 Post Profitmann and not a positive comment to be found in any of them. If you take Profitmanns advice LNC is doomed as well.  I'm tipping profitmann hasn't been too profitable lately and needs to vent his frustration somewhere.  How about a positive story profitmann like what would you suggest to invest in or trade to make a dollar and why?




These new energy plays are not good for the heart and not real businesses yet. Get in on the upcoming Mastermyne Float - solid business, aligned to the resources sector which is humming along again and some solid contracts in place securing revenue. They actually make money as well. Listing at $1.00 so upside IMO. Keep your eye on another upcoming float out of the US (Houston TX) - Oil & Gas Farm In Play - "Maverick Drilling Servcies". Local Chairman and Director to go with 30+ year veterans in the Texas Oil game. Should list sub $0.50c with good Farm In prospects in US & Aus and some nice Oil reserves in the bag. Add some nice drilling services, oil already flowing in the US and it all adds up as a good play in my assessment. Prospectus out soon with listing in May 10. There you go some real businesses with real revenue and real profits.


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## springhill (2 April 2010)

profitmann said:


> These new energy plays are not good for the heart




Which makes them a good play for those with tolerance to high risk, people who have bought in obviously know the perils, so why lecture them?



profitmann said:


> and not real businesses *yet*.




*YET*? Is that an admission that they *could* become real, profitable businesses? If so, time will tell, and those that have seen the possible potential will reap the reward.
Alternative energy sources evolve, some flourish.... some wither and die.
I, for one, will be happy if CXY & CNX prove successful.


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## profitmann (2 April 2010)

You win - I give up  - leave this crap to you guys who seem to know it all. Ah..... a fool and his money is easily seperated....sorry for having an opinion...seems like you are not allowd to have one on this forum....good luck with it all!


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## Mickel (16 July 2010)

Trading halt on CXY. Here is the request to the ASX-

"Trading Halt Request
Cougar Energy Limited (ASX code: CXY) hereby requests a trading halt be placed on its quoted fully
paid ordinary shares effective immediately, pursuant to listing rule 17.1.
The Company has received an order from the Queensland Department of Environment and Resource
Management (DERM) to keep the Company’s pilot Underground Coal Gasification plant near Kingaroy
closed until the Queensland Government is assured that groundwater resources are protected.
The Company expects the trading halt to last until the earlier of an announcement by the Company or
the commencement of normal trading on 20 July 2010.
The Company is not aware of any reason why the trading halt should not be granted."

This reinforces what LNC's Justyn Peters stated in his Limelight address in Melbourne on June 4- that only LNC has mastered the drilling, burning and extinguishing the burn, and ground water issues- among the UCG operators.

http://www.brr.com.au/event/66149/the-power-of-underground-coal-gasification?popup=true&wl=76


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## haggis (26 July 2010)

http://bigpondnews.com/articles/Business/2010/07/26/Bores_okay_near_Cougar_plant_-_Dept_490103.html

Report from 0610am this morning clearing bores of toluelene levels . Do not know how this will effect the company after they sacked their team, and contractors, on friday.
Look for ASX announce today for lifting of trading suspension??


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## basilio (26 July 2010)

I just can't see how Couger can easily restart it's operations after it has sacked the majority of it's staff. 

Talent in this relatively new field is not that easy to find and the best of the current crew will be snapped up by LNC and perhaps CNX. I fear the whole power contract will fold in the wake of the alleged water contamination and now the sackings of most staff. 

Bit sobering isn't it ? Certainly not something the analysts would have suggested in evaluating the company over the past couple of years.


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## basilio (26 July 2010)

I'm feeling mystified and perhaps a bit suspicious about firstly the alleged findings of water contamination around CXY operations and the new information which seems to totally clear the company.

There is no doubt the initial findings have been catastrophic for CXY and the whole UCG industry. And now it seems it was all a mistake ??

Would it seem too much of a coincidence that other competing interests, coal seam gas, now seem to have an unimpeded opportunity for the underground coal resources?

So a simple loaded question. How easy would it be to create tainted water samples that would discredit UCG operations? Anyone is this Forum have any ideas/experiences ?

Cheers


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## Mickel (26 July 2010)

basilio said:


> I'm feeling mystified and perhaps a bit suspicious about firstly the alleged findings of water contamination around CXY operations and the new information which seems to totally clear the company.
> 
> There is no doubt the initial findings have been catastrophic for CXY and the whole UCG industry. And now it seems it was all a mistake ??
> 
> ...




I am mystified  with this situation and it is difficult to get the hard facts.
- Initially reported that the test was in April and CXY reported it to DERM on 30/6.Surely CXY would have had the results by early May and queried them???
-Within 2 days of DERM publishing the initial results(14 days after receiving them) CXY has written advice that those results are overstated???
- DERM don't appear to have acknowledged that the initial results (on which they based their decision to suspend CXY operations) were erroneous???
-If those results were erroneous why didn't CXY challenge the suspension or publicize that DERM acted on false information ???

I don't know how easy it would be to create a tainted water sample, but money usually speaks all languages.

I do think that CXY has a valid damages case against the "independent laboratory" and possibly against DERM (Dept of Environment and Resource Management).

I don't hold any CXY stock but do hold both LNC and CNX.


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## Mickel (27 July 2010)

Perhaps this answers some questions .

"THE company at the centre of the Kingaroy water-poisoning scare raised more than $1 million from investors before its contamination leak was made public.

Cougar Energy has since admitted it first knew of the leak in April and told the State Government on June 30, but the public was not made aware until Independent MP Dorothy Pratt raised the issue in Parliament on July 14, the day Cougar completed its fund-raising.

Managing director of the underground coal gasification company Len Walker said the company did everything it was required to do.

The company has claimed there were discrepancies in the testing of water.

Its shares remain suspended on the Australian Securities Exchange.

Ms Pratt said any potential investor would want to know about the contamination leak and they should have been informed.

Kingaroy Concerned Citizens Group wants the Australian Securities and Investments Commission to review the fund-raising and will hold a public meeting tonight."

http://www.couriermail.com.au/news/leak-made-public-after-1m-raised/story-e6freon6-1225897331694


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## Mickel (28 July 2010)

More clarification on Cougar Energy incident. Now confirmed that one test was above the safe drinking water standard. Not sure when this test was conducted. This is from the DERM statement attached to the CXY announcement to the ASX today-

"All of the sampling carried out to date by both Cougar Energy and DERM indicates that benzene has only been detected in one bore (monitoring bore 37) at a maximum concentration of 2 parts per billion (above drinking water guideline of 1 ppb)."

http://imagesignal.comsec.com.au/asxdata/20100728/pdf/01082567.pdf

So, we finally find out that there was one confirmed case of water pollution.

There is more on the DERM statement worth reading that is not on DERM's website yet.


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## 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


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## Woodsy58 (12 August 2010)

Thanks for all the updates Mickel, I have been holding CXY for some time now and was very unhappy to hear about the problems at Kingaroy. Difficult sometimes to move onwards from these things but I think it is important to the whole industry that CXY do just that and continue to develop. Here's hoping!


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## bassmanpete (2 September 2010)

Appears to be no problem with water pollution and the company announcement is quite positive, but it would be wouldn't it? However, the shares are getting dumped; down over 40% with over 48 million traded so far.


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## basilio (2 September 2010)

> Appears to be no problem with water pollution and the company announcement is quite positive, but it would be wouldn't it? However, the shares are getting dumped; down over 40% with over 48 million traded so far




Probably because the company can't see enough money in the kitty to last the next 12 months and given the political situation in Queensland there seems little likelihood of a successful reestablishment of their operations.



> Cougar says its forecast working capital requirements for the next 12 months exceed its current cash position, casting doubt over the company's ability to continue.




http://news.theage.com.au/breaking-...lunge-on-talk-of-collapse-20100902-14om4.html
I wonder what has happened to the capital that was raised in July before this affair blew up ?

Win some lose some...


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## noie (6 September 2010)

Up 16% this morning, 

an agreement with the Govnt, but does the kitty actually have enough to see them through?


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## jancha (6 September 2010)

noie said:


> Up 16% this morning,
> 
> an agreement with the Govnt, but does the kitty actually have enough to see them through?




Seems to be a lot of support to suggest they can get thru this. 
Nice rebound on the news.
Wonder how they'd go with another CR?


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## Korban (23 November 2010)

Its been quiet of late for Cougar here on Aussie Stocks. Seems like they're working to get through this tough time rather nicely, and there may well be light at the end of the tunnel. 

Im thinking it may be time for another chunk given recent, factual news of no water contamination. 

What are other peoples thoughts on this one?


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## motorway (2 February 2011)

Korban said:


> Its been quiet of late for Cougar here on Aussie Stocks. Seems like they're working to get through this tough time rather nicely, and there may well be light at the end of the tunnel.
> 
> Im thinking it may be time for another chunk given recent, factual news of no water contamination.
> 
> *What are other peoples thoughts on this one?*




Have not got a clue

But I put it on the watch list for obvious reasons
do not hold atm

Motorway


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## donteatme (18 February 2011)

Looks like these guys are gonna continue after what happened in Queensland.

http://www.tradingmarkets.com/news/...ada-inc-announces-finance-update-1467111.html

Is there hope for these guys yet?


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## birdmanz (21 February 2011)

donteatme said:


> Looks like these guys are gonna continue after what happened in Queensland.
> 
> http://www.tradingmarkets.com/news/...ada-inc-announces-finance-update-1467111.html
> 
> Is there hope for these guys yet?




Unfortunateley this is not our Cougar, is a Canadian company....although I do believe there will be life in the cat after the QLD debacle


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## donteatme (21 February 2011)

Oh, well that's the last time I'm following one of stoxline's links :/


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## basilio (31 March 2011)

CXY is back and running. They have jumped from .015 to .036 in the last 2 days on the back of a report of a JV with the Chinese.

It looks like some quite determined buying as well. Been going for a couple of days with no sign of respite. Be interesting to see what sort of figures are being proposed with the venture.

http://newsstore.fairfax.com.au/app...te.ac?get_prices=Get+prices+&+charts&code=cxy


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## bassmanpete (17 October 2011)

So Cougar is going to sue the Queensland government:

http://imagesignal.comsec.com.au/asxdata/20111017/pdf/01228957.pdf

Can't say I blame them having been stopped operating on the basis of one, apparently false, reading and no other such readings after several tests. Sounds like someone in government maybe has it in for them. There's something dodgy going on somewhere imho.


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## st22 (21 October 2011)

Mickel said:


> More clarification on Cougar Energy incident. Now confirmed that one test was above the safe drinking water standard. Not sure when this test was conducted. This is from the DERM statement attached to the CXY announcement to the ASX today-
> 
> "All of the sampling carried out to date by both Cougar Energy and DERM indicates that benzene has only been detected in one bore (monitoring bore 37) at a maximum concentration of 2 parts per billion (above drinking water guideline of 1 ppb)."
> 
> ...




Well the crux of the Cougar energy case is that according to the acceptable levels for nonpotable water the Government has made an incorrect enforcement of the standards. A single bore measured benzene but was nonpotable water (a saline bore unfit for human consumption) which has a threshold of 950 parts per billion (ppb) before it is an exceedence of Australian standards. On toluene no reading was in exceedence of any of the Australian standards. Below is a radio interview with Cougar on the issue.

http://blogs.abc.net.au/queensland/2011/10/cougar-energy-sues-qld-govt.html

There are other mitigating circumstances which I'm sure will come out in the case next year. On value there may be a similar spike on this stock somewhere in the near future if their is positive news from their overseas projects in China and Mongolia.


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## alu (13 June 2012)

anybody else been riding the .008 to .009 wave for the last week?


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