The dollar is getting worse and YEN is becoming good. Dollar will take time to come up as the economic conditions of the US gets better. As we can see that the INR is getting better versus the Dollar and in the Asian market the market of Dollar is getting week.
LNC - Linc Energy
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The reason why I want to wait is because I never buy a share without confirmation that they are actualy on the way up. And I do like them to be above the 30 week EMA.
In this volatile market, ther are too many times that we could get burned. Yes, I could have made 50% or whatever profit, but is not hindsight a beautiful thing?
We shall see what Monday brings.
Happy Trading
In this volatile market, ther are too many times that we could get burned. Yes, I could have made 50% or whatever profit, but is not hindsight a beautiful thing?
We shall see what Monday brings.
Happy Trading
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Obviously you are trying to tell us something.
Did you post on the wrong thread? What is the relevance of this to Linc?From ABC website
http://www.abc.net.au/news/stories/2008/11/01/2407611.htm?section=business
Moratorium on coal-seam gas proposed
The Queensland Government is being urged to put a temporary halt to exploration of coal-seam gas conversion.
At least three companies in the Surat Basin - involved in converting coal underground into gas - are hoping to get production leases.
Monica Richter from the Australian Conservation Foundation told Stateline the technology is still too unknown for production to go ahead.
"Well just as the Queensland Government put a moratorium on the oil shale development industry of 20 years, I think a moratorium should be put on the development of coal to liquid, underground gasification," he said.
"All of these technologies that are not necessarily yet proven, that do have a horrendous green house impact."
Paul Zealand from Origin Energy says a total moratorium would be unwise.
"I've got nothing against underground coal gasification I just don't understand it yet, I don't think the state understands it yet," he said.
"It's got a lot of development to do. But we shouldn't sterilize a large areas of what are some of the best coal seam prospects in the world for future experiments. We should contain that to a relatively small area."
Linc Energy says the process can be environmentally sustainable.
Spokesman Stephan Dumble says his company is working towards a plant at Chinchilla that will convert underground coal into 20,000 barrels of liquid fuel a day.
Energy Minister Geoff Wilson says the Government is doing a lot of work examining how underground coal gasification companies might affect the profitable coal-seam gas sector.
"Once the coal seam is burnt underground then the coal seam gas embedded in it is also burnt," he said.
"So the challenge for both sectors of the coal industry is to work out an acceptable way for both sectors to be able to co-exist."
http://www.abc.net.au/news/stories/2008/11/01/2407611.htm?section=business
Moratorium on coal-seam gas proposed
The Queensland Government is being urged to put a temporary halt to exploration of coal-seam gas conversion.
At least three companies in the Surat Basin - involved in converting coal underground into gas - are hoping to get production leases.
Monica Richter from the Australian Conservation Foundation told Stateline the technology is still too unknown for production to go ahead.
"Well just as the Queensland Government put a moratorium on the oil shale development industry of 20 years, I think a moratorium should be put on the development of coal to liquid, underground gasification," he said.
"All of these technologies that are not necessarily yet proven, that do have a horrendous green house impact."
Paul Zealand from Origin Energy says a total moratorium would be unwise.
"I've got nothing against underground coal gasification I just don't understand it yet, I don't think the state understands it yet," he said.
"It's got a lot of development to do. But we shouldn't sterilize a large areas of what are some of the best coal seam prospects in the world for future experiments. We should contain that to a relatively small area."
Linc Energy says the process can be environmentally sustainable.
Spokesman Stephan Dumble says his company is working towards a plant at Chinchilla that will convert underground coal into 20,000 barrels of liquid fuel a day.
Energy Minister Geoff Wilson says the Government is doing a lot of work examining how underground coal gasification companies might affect the profitable coal-seam gas sector.
"Once the coal seam is burnt underground then the coal seam gas embedded in it is also burnt," he said.
"So the challenge for both sectors of the coal industry is to work out an acceptable way for both sectors to be able to co-exist."
Now here is the transcript from the QLD Stateline show:
http://www.abc.net.au/stateline/qld/content/2006/s2407230.htm
JOHN TAYLOR: Mining in Queensland is big business, and this week it got a little bigger. British gas company B-G group announced a friendly takeover bid for QQueensland gas company valuing the company at more than $5.5 billion. It's big money, especially since coal seam gas wasn't really on the mining radar in Queensland a decade ago. Now there's another group of companies coming forward that want to do something else new with coal - convert coal underground into gas. And not everyone is happy.
(JOHN REPORTS ON COAL GASIFICATION)
JOHN TAYLOR: In Queensland, coal is king. Digging it, burning it, selling it coal is worth billions and underpins the economy. But there is some new players emerging who want to use is coal in a different way converting coal into gas underground.
DR LEN WALKER, COUGAR ENERGY: We have the capability of using coal that's not useful for any other purpose underground to produce what I would call industrial gas.
MONICA RICHTER, AUSTRALIAN CONSERVATION FOUNDATION: Well if Australia's going to deal seriously with the twin issues of climate change and Australia's oil vulnerability this is definitely not the way to go.
GEOFF WILSON, ENERGY MINISTER: It is important that we don't pick winners with technology that's not for Government.
JOHN TAYLOR: In Queensland's Surat Basin, the three major companies have pilot programmes turning underground coal into gas. It works like this. Two holes are drilled into a coal seam. The coal is ignited at one end, and in a controlled conversion process a series of chemical reactions take place that produce a mixture of gas called "synthesis gas".
DR LEN WALKER: We have a coal source at Kingaroy where we've established 73 million tonnes of coal resource, and we have a defined program now over three to four years of establishing a pilot burn first, and then constructing a power station of 400 megawatts in two stages.
JOHN TAYLOR: Dr Len Walker is Australia's old man of underground coal gasification; a self described ageing entrepreneur. For 25 years he's advocated that UCG as it's known makes sense in Australia.
DR LEN WALKER: It started off in the former Soviet Union because Lenin and Stalin considered there was a means of getting coal that was deep without sending miners underground. So it was a good socialist objective. Well it's a good humanistic objective nowadays to do the same thing and look it at it the same way.
JOHN TAYLOR: In Brisbane's leafy west lies the headquarters of another UCG player Carbon Energy. It makes much of its links to Australia's national science agency, the CSIRO.
ANDREW DASH CARBON ENERGY: We believe it's very important. Our entire approach to this technology, how we target our sites and how we efficiently bring the energy to the surface has been born out of 10 years of scientific research; it's the most thorough development of this type of technology in the world.
JOHN TAYLOR: Carbon Energy wants to produce gas for power generation, and to make chemicals for agriculture and mining.
ANDREW DASH: A very major facility with a capital cost of over a billion dollars, generating over $30B worth of revenue over its 30 year lifetime.
JOHN TAYLOR: The largest player in the paddock however is Linc Energy, which has already spent $50M on its project at Chinchilla.
STEPHEN DUMBLE, LINC ENERGY: We're now moving on with the development of our first commercial operation which will be a 20,000 barrel a day commercial plant again at Chinchilla, producing clean liquid transport fuels from coal that's gasified underground.
JOHN TAYLOR: Last month it produced its first liquid fuel.
STEPHEN DUMBLE: Very significant for our business and also very significant for Queensland. This is a world first for Queensland.
JOHN TAYLOR: And with Australia's reliance on foreign petroleum only dramatically rising, the company believes there's a ready market.
STEPHEN DUMBLE: At 20,000 barrels a day we'll produce enough diesel to satisfy about half of Queensland's current diesel consumption.
JOHN TAYLOR: While Linc Energy dreams of a Queensland Middle East, others are worried.
MONICA RICHTER: Well just as the Queensland Government put a moratorium on the oil shale development industry of 20 years I think a moratorium should be put on the development of coal to liquid, underground gasification, all of these technologies that are not necessarily yet proven, that do have a horrendous green house impact.
JOHN TAYLOR: Monica Richter from the Australian Conservation Foundation says a new way using old coal is not the future.
MONICA RICHTER: We really need to be moving away from our reliance on coal as part of our strong economy and looking at what the 21st century technologies of clean green technologies need to be invested in.
JOHN TAYLOR: In the farming country of the Surat basin there are also concerns about subsidence, the water table chemical residues, and carbon emissions.
GEOFF WILSON: Well I bring an open mind to this question. One of the concerns that legitimately raised is around the environmental impact of this technology and I think people fairly recognise that it is technology that is unproven in the Australian setting.
JOHN TAYLOR: The operators say don’t be afraid.
ANDREW DASH: We very much refute those elements; the key focus of the CSIRO's work has been around environmental performance, around safety and efficient extraction of coal.
DR LEN WALKER: To say that you shouldn't use UCG here because you might damage the groundwater, is equivalent to saying you shouldn't mine underground because you might kill people.
JOHN TAYLOR: Another question UCG players face is can they co-exist with the Coal Seam Gas industry a proven and multibillion dollar part of Queensland's energy scene.
GEOFF WILSON: Once the coal seam is burnt underground then the coal seam gas embedded in it is also burnt. So the challenge for both sectors of the coal industry is to work out an acceptable way for both industries to be able to coexist.
DR LEN WALKER: Well I can't say whether they hate our guts or not. I've met and I know a number of them and I know one or two of them who are extremely co-operative.
JOHN TAYLOR: Paul Zealand is from Origin Energy, which is involved in coal seam gas.
PAUL ZEALAND, ORIGIN ENERGY: I've got nothing against Underground coal gasification I just don't understand it yet, I don't think the State understands it yet. It's got a lot of development to do. But we shouldn't sterilize a large area of what are some of the best coal seam prospects in the world for future experiments. We should contain that to a relatively small area.
JOHN TAYLOR: There is court case at the moment over a tenure dispute but the UCG companies believe there's enough room for everyone.
STEPHEN DUMBLE, LINC ENERGY: The amount of coal reserves that exist in this State are very significant you know several hundred billion tonnes of coal. So there is more than enough room for all of these industries to coexist and in fact play useful parts in the economic prosperity of the State.
PAUL ZEALAND: Let’s not threaten the fantastic opportunity that we've got ahead of us with an experimental technology which is yet to be proven which we know has got a high carbon footprint compared to coal seam gas which is a low carbon technology.
ANDREW DASH: The Surat Basin is ideal for underground coal gasification; it has some of the best coal in the world for our process.
JOHN TAYLOR: The State Government is examining if the industries can co-exist, and Cabinet is expected to look at the evidence soon. But few it seems are expecting the Government to completely rule out this emerging part of Queensland's energy industry.
ANDREW DASH: In due course we will be applying for that production licence and would anticipate that that would be granted in due course.
DR LEN WALKER: In terms of the outcomes and the simplicity of the whole process it's extremely interesting and very attractive and I think there's no doubt that it will have a long term future.
http://www.abc.net.au/stateline/qld/content/2006/s2407230.htm
JOHN TAYLOR: Mining in Queensland is big business, and this week it got a little bigger. British gas company B-G group announced a friendly takeover bid for QQueensland gas company valuing the company at more than $5.5 billion. It's big money, especially since coal seam gas wasn't really on the mining radar in Queensland a decade ago. Now there's another group of companies coming forward that want to do something else new with coal - convert coal underground into gas. And not everyone is happy.
(JOHN REPORTS ON COAL GASIFICATION)
JOHN TAYLOR: In Queensland, coal is king. Digging it, burning it, selling it coal is worth billions and underpins the economy. But there is some new players emerging who want to use is coal in a different way converting coal into gas underground.
DR LEN WALKER, COUGAR ENERGY: We have the capability of using coal that's not useful for any other purpose underground to produce what I would call industrial gas.
MONICA RICHTER, AUSTRALIAN CONSERVATION FOUNDATION: Well if Australia's going to deal seriously with the twin issues of climate change and Australia's oil vulnerability this is definitely not the way to go.
GEOFF WILSON, ENERGY MINISTER: It is important that we don't pick winners with technology that's not for Government.
JOHN TAYLOR: In Queensland's Surat Basin, the three major companies have pilot programmes turning underground coal into gas. It works like this. Two holes are drilled into a coal seam. The coal is ignited at one end, and in a controlled conversion process a series of chemical reactions take place that produce a mixture of gas called "synthesis gas".
DR LEN WALKER: We have a coal source at Kingaroy where we've established 73 million tonnes of coal resource, and we have a defined program now over three to four years of establishing a pilot burn first, and then constructing a power station of 400 megawatts in two stages.
JOHN TAYLOR: Dr Len Walker is Australia's old man of underground coal gasification; a self described ageing entrepreneur. For 25 years he's advocated that UCG as it's known makes sense in Australia.
DR LEN WALKER: It started off in the former Soviet Union because Lenin and Stalin considered there was a means of getting coal that was deep without sending miners underground. So it was a good socialist objective. Well it's a good humanistic objective nowadays to do the same thing and look it at it the same way.
JOHN TAYLOR: In Brisbane's leafy west lies the headquarters of another UCG player Carbon Energy. It makes much of its links to Australia's national science agency, the CSIRO.
ANDREW DASH CARBON ENERGY: We believe it's very important. Our entire approach to this technology, how we target our sites and how we efficiently bring the energy to the surface has been born out of 10 years of scientific research; it's the most thorough development of this type of technology in the world.
JOHN TAYLOR: Carbon Energy wants to produce gas for power generation, and to make chemicals for agriculture and mining.
ANDREW DASH: A very major facility with a capital cost of over a billion dollars, generating over $30B worth of revenue over its 30 year lifetime.
JOHN TAYLOR: The largest player in the paddock however is Linc Energy, which has already spent $50M on its project at Chinchilla.
STEPHEN DUMBLE, LINC ENERGY: We're now moving on with the development of our first commercial operation which will be a 20,000 barrel a day commercial plant again at Chinchilla, producing clean liquid transport fuels from coal that's gasified underground.
JOHN TAYLOR: Last month it produced its first liquid fuel.
STEPHEN DUMBLE: Very significant for our business and also very significant for Queensland. This is a world first for Queensland.
JOHN TAYLOR: And with Australia's reliance on foreign petroleum only dramatically rising, the company believes there's a ready market.
STEPHEN DUMBLE: At 20,000 barrels a day we'll produce enough diesel to satisfy about half of Queensland's current diesel consumption.
JOHN TAYLOR: While Linc Energy dreams of a Queensland Middle East, others are worried.
MONICA RICHTER: Well just as the Queensland Government put a moratorium on the oil shale development industry of 20 years I think a moratorium should be put on the development of coal to liquid, underground gasification, all of these technologies that are not necessarily yet proven, that do have a horrendous green house impact.
JOHN TAYLOR: Monica Richter from the Australian Conservation Foundation says a new way using old coal is not the future.
MONICA RICHTER: We really need to be moving away from our reliance on coal as part of our strong economy and looking at what the 21st century technologies of clean green technologies need to be invested in.
JOHN TAYLOR: In the farming country of the Surat basin there are also concerns about subsidence, the water table chemical residues, and carbon emissions.
GEOFF WILSON: Well I bring an open mind to this question. One of the concerns that legitimately raised is around the environmental impact of this technology and I think people fairly recognise that it is technology that is unproven in the Australian setting.
JOHN TAYLOR: The operators say don’t be afraid.
ANDREW DASH: We very much refute those elements; the key focus of the CSIRO's work has been around environmental performance, around safety and efficient extraction of coal.
DR LEN WALKER: To say that you shouldn't use UCG here because you might damage the groundwater, is equivalent to saying you shouldn't mine underground because you might kill people.
JOHN TAYLOR: Another question UCG players face is can they co-exist with the Coal Seam Gas industry a proven and multibillion dollar part of Queensland's energy scene.
GEOFF WILSON: Once the coal seam is burnt underground then the coal seam gas embedded in it is also burnt. So the challenge for both sectors of the coal industry is to work out an acceptable way for both industries to be able to coexist.
DR LEN WALKER: Well I can't say whether they hate our guts or not. I've met and I know a number of them and I know one or two of them who are extremely co-operative.
JOHN TAYLOR: Paul Zealand is from Origin Energy, which is involved in coal seam gas.
PAUL ZEALAND, ORIGIN ENERGY: I've got nothing against Underground coal gasification I just don't understand it yet, I don't think the State understands it yet. It's got a lot of development to do. But we shouldn't sterilize a large area of what are some of the best coal seam prospects in the world for future experiments. We should contain that to a relatively small area.
JOHN TAYLOR: There is court case at the moment over a tenure dispute but the UCG companies believe there's enough room for everyone.
STEPHEN DUMBLE, LINC ENERGY: The amount of coal reserves that exist in this State are very significant you know several hundred billion tonnes of coal. So there is more than enough room for all of these industries to coexist and in fact play useful parts in the economic prosperity of the State.
PAUL ZEALAND: Let’s not threaten the fantastic opportunity that we've got ahead of us with an experimental technology which is yet to be proven which we know has got a high carbon footprint compared to coal seam gas which is a low carbon technology.
ANDREW DASH: The Surat Basin is ideal for underground coal gasification; it has some of the best coal in the world for our process.
JOHN TAYLOR: The State Government is examining if the industries can co-exist, and Cabinet is expected to look at the evidence soon. But few it seems are expecting the Government to completely rule out this emerging part of Queensland's energy industry.
ANDREW DASH: In due course we will be applying for that production licence and would anticipate that that would be granted in due course.
DR LEN WALKER: In terms of the outcomes and the simplicity of the whole process it's extremely interesting and very attractive and I think there's no doubt that it will have a long term future.
JOHN TAYLOR: The State Government is examining if the industries can co-exist, and Cabinet is expected to look at the evidence soon. But few it seems are expecting the Government to completely rule out this emerging part of Queensland's energy industry.
--------------------------------------------
Ole Monica rattlin the cage again... Maybe the "conversation" foundation should actually show how much land and money it would take for low carbon energy production like a wind farm that would need to be the size of NT it would take to do what LNC are potentially doing from Chinchilla...
I guess one thing it clears up is that the big energy players wouldnt be looking at buying into our little UCG pioneers anytime soon...
--------------------------------------------
Ole Monica rattlin the cage again... Maybe the "conversation" foundation should actually show how much land and money it would take for low carbon energy production like a wind farm that would need to be the size of NT it would take to do what LNC are potentially doing from Chinchilla...
I guess one thing it clears up is that the big energy players wouldnt be looking at buying into our little UCG pioneers anytime soon...
In Time magazine dated 3 Nov 2008 on page 23 Time's Joe Klein reported an interview with Barack Obama- "ON KICK-STARTING THE ECONOMY: Finding the new driver of our economy is going to be critical. There is no better potential driver that pervades all aspects of our economy than a new energy economy... That's going to be my No. 1 priority when I get into office, assuming obviously that we have done enough to just stabilize the immediate economic situation. We've got a boat with a lot of leaks, and we need to get it into port. That's what the financial rescue package is about. But once we get it into port, once the credit markets are functioning effectively, then it's time for us to go back to the fundamentals of this economy."
Previously in the article, Obama is quoted as saying the turbo charger of the economy for the last 20 years was consumer spending based on cheap credit but that will not be there for the next 20 years "because there is too much deleveraging taking place, too much debt." A new economic turbocharger is going to have to be found, and "there is no better potential driver that pervades all aspects of our economy than a new energy economy."
Well, the US imports billions of barrels of oil to drive it's transport, racking up hundreds of billions $ debt in their balance of payments. However, they have billions of tons of coal (much of it currently unavailable because it can't be mined economically).
WHEN Barack is elected one P Bond will come riding to the USA's rescue with LINC's UCG and GTL processes and I think they will welcome him with open arms, mining licences on a platter, and fists full of $$$.
If Anna listens to the Greens more than the facts, she may regret that she isn't standing next to P Bond in 3 years time, as he gets worldwide attention opening a GTL plant producing 50,000 (or 100,000) bpd of diesel with US President Barack Obama cutting the ribbon.
Previously in the article, Obama is quoted as saying the turbo charger of the economy for the last 20 years was consumer spending based on cheap credit but that will not be there for the next 20 years "because there is too much deleveraging taking place, too much debt." A new economic turbocharger is going to have to be found, and "there is no better potential driver that pervades all aspects of our economy than a new energy economy."
Well, the US imports billions of barrels of oil to drive it's transport, racking up hundreds of billions $ debt in their balance of payments. However, they have billions of tons of coal (much of it currently unavailable because it can't be mined economically).
WHEN Barack is elected one P Bond will come riding to the USA's rescue with LINC's UCG and GTL processes and I think they will welcome him with open arms, mining licences on a platter, and fists full of $$$.
If Anna listens to the Greens more than the facts, she may regret that she isn't standing next to P Bond in 3 years time, as he gets worldwide attention opening a GTL plant producing 50,000 (or 100,000) bpd of diesel with US President Barack Obama cutting the ribbon.
Thursday 06 November 2008 - Australia joins with India to promote coal sector.
AUSTRALIA and India have entered agreements to boost trade and investment in the coal sector.
The "Action Plan for Indo-Australian Collaboration” focuses on mining techniques and services, coal to liquid projects and coal-bed methane operations.
According to an official statement, the main objective of the plan is to enhance opportunities in two-way trade and investments and increase bilateral cooperation in the sector.
The agreement will see the both governments focus on underground coal mining, gasification and methane technologies, as well as training and capacity building." Source: www.miningcoal.com.au
'It'll happen one day Eric! Sooner the better as LNC is looking very sad in the SP!
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No doubt all shareholders have received the latest Linc newsletter. It is certainly different from traditional shareholder information and (naturally) paints a very positive picture of the future of the company. What are your thoughts about it?
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This type of glossy expensive newsletter always paints a rosy picture. Unfortunately they never tell the diligent shareholder anything he doesn't already know. A one-line email telling us the China deal is sealed would be more encouraging.
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Totally agree. I didn't think it was necessary.
Surprised oil has dropped so much. Anyone thinks that in the coming months, the winter in the northern hemp will see demand for oil raise again?
Cheers
Glen48
Money can't buy Poverty
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I got a news letter from LNC and I sold my shares about 2 weeks ago, must cost them a fortune in this climate with us buying and sell and them having to send out paperwork.
Maybe Linc knows they have a 100% certainty of the $1.5b sale that could be weeks away from closing... small change creating those glossy flyers.
The newsletter lists details for shareholders to attend a site tour before the AGM. Registrations close today. Also, on the same page, it lists events/conferences that Linc has been invited to as a guest speaker in Singapore, San Francisco, London and Sydney.
The first item gives shareholders a great opportunity to see and hear the latest about Linc. The second will undoubtedly spread the word internationally about Linc's story and achievements.
And who knows, perhaps there will be a positive announcement at the AGM on the 27 Nov?
Currently the S&P/ASX 200 index is down 4.5% while LNC is up 4.1% to $2.79. Perhaps existing shareholders are buoyed by the upbeat newsletter and are buying more at a reasonable price.
Disclosure- I am a shareholder.
Geez, people whinge if the company dont keep you informed, then you whinge when they actually do.
This newsletter would of been designed and paid for long before things got as bad as they did... and by the way - the Coal sale and first liquids is big news and they have a right to celebrate with these kind of mail... dont you guys remember not long ago LNC was trading around $5!
I got many share holder newsletters and annual reports in the past 3 or so weeks, and LNC along with AJL demonstrate professionalism and unwavering faith in their operations and long term prospects through releasing quality media.
Perhaps you guys are starting to get depressed with all the bad news floating around lately.
