CNX - Carbon Energy

[Inquisitor]

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

 

[earthgas]

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

 

[Mickel]

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

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

 

[earthgas]

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

 

[alexc2005]

CNX- Carbon Energy

Can't see this one already listed here.

Just released a quarterly report and things are looking good.

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

Any thoughts?

 

[ColB]

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

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

 

[springhill]

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

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

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


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

 

[springhill]

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

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

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

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

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

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

 

[piggybank]

Up 300% this week alone.

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

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

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

 

[pixel]

Up 300% this week alone.

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

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

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

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

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

 

[kingink]

Thoughts on whether they will be successful in QLD?

 

[pixel]

Thoughts on whether they will be successful in QLD?

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

 

[kingink]

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

 

[orr]

Thoughts on whether they will be successful in QLD?

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

CNX..... a slow burn.

 

[Informed]

Carbon Energy

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

 

[joeno]

Re: Carbon Energy

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

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

 

[pixel]

Re: Carbon Energy

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

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

 

[peter2]

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

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

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

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

 

[SyBoo]

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

 

[peter2]

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