LINC ENERGY CONTINUES MOU WITH BP AUSTRALIA
Linc Energy Ltd (ASX:LNC) (OTCQX:LNCGY) is pleased to announce it will continue its Memorandum of Understanding (MoU) with BP Australia Pty Ltd.
The MoU entitles BP Australia to take at least 70 per cent per day of produced synthetic diesel fuel from Linc Energy’s Underground Coal Gasification (UCG) to Gas to Liquids (GTL) facility proposed for South Australia. This is the equivalent of about 14,000 barrels each day.
“I look forward to continuing our strong relationship with one of the world’s most recognised energy companies,” said Bond.
Linc Energy owns and operates the world’s only UCG to GTL facility and has proven the in-situ conversion of solid coal to gas for cleaner synthetic fuel production. The facility is based near Chinchilla in Queensland.
“Linc Energy is leading the way in UCG for cleaner energy products. Our Chinchilla Demonstration Facility places the company in an ideal position to commercialise UCG to fuel the future for generations to come. And with Linc Energy’s push into the USA expanding each quarter, I expect UCG to GTL (fuel) to play a big part in North America’s and Australia’s energy mix in the very near future,” he said.
For more information visit www.lincenergy.com.au or contact our office on +617 3229 0800.
well its a start , read the ann and its says bp will take 70% of daily production,
so daily production os approx 20k barrels @ $100 (rounded) = $2million ,
then 2M x 365 days per annum = $730 ,
ruff math but hey , i like em anyway
Yes it would be a nice start Atomic, but me thinks the left side of the equation( into the forseeable future) makes the right side =..... not much.
Were not frustrated, were not frustrated, were not frustrated.....
Whats happened to LNC today?? Apparently good news yesterday with with new coal licenses in Alaska and in response today the share prices drops 20 cents and sells as low as 2.36???
Whats happened? What did i miss???
That was yesterday's news and the market didn't react very much to it yesterday. I can only think there must be some other reason for today's negative sentiment. OTOH could be an opportunity to top-up today.
So it seems any bad news about the other UCG players is a bullet for llinc as well.This is the link to DERM Media Release today-
http://www.cabinet.qld.gov.au/MMS/StatementDisplaySingle.aspx?id=73436
Part of the Media Release with the reference to LNC highlighted-
"Ms Jones today said that the independent scientific panel report into the Cougar Energy operations at Kingaroy supports the department’s decision to close down the trial at the Kingaroy site.
The report stated that "the Cougar Energy trial not be reignited" and "Cougar Energy did not act sufficiently rapidly to shut down the facility when changes to infrastructure were first observed."
Ms Jones said the independent Scientific Expert Panel report into Linc Energy’s trial plant near Chinchilla recommended that Linc Energy pilot continue as planned and said the company was able to demonstrate a significant technical capacity.
The Minister said DERM had not finalised its investigations into Carbon Energy’s plant at Kogan and an Environmental Protection Order preventing further gasification by Carbon Energy’s UCG plant would remain in place.
"The order was issued in July 2010 following the release of waste water to land at the site," she said.
"While investigations indicate no ongoing environmental harm has occurred, these investigations will continue into the cause of this incident."
Ms Jones said the department is working through all recommendations of the Scientific Expert Panel reports.
The Panel will provide its final advice to Government on the technical viability and environmental sustainability of a large scale UCG industry in Queensland at the end of the trial."
I dont get it either? Is Linc associated with Cougar Energy?
Something is going on be it panic or something else?
My understanding is that the Qld goverment is monitoring the environmental impacts of three UCG trials in Qld - one by Cougar, one by Linc and the other by Carbon Energy.
Put very simply, current reports by the Qld goverment are very negative about Cougar's project and they have not authorised it to proceed any further, while Carbon Energy's is still subject to their further review. However, they have commented very favourably on and appear very happy so far with Linc's project.
I don't think Cougar has any connection with Linc, and in fact they are competitors in the UCG field. As such, the announcements this week from the Qld government will strenghthen Linc's competitive position in Queensland.
As is often the case however, the market doesn't see things that way and it tends to tar all players with the same brush, so the decline in Linc's share price this week can be seen as an opportunity to make an entry or to top-up at a favourable price.
This is only my view and interpretation, if I'm wrong, please correct me.
The rapid decline in the Linc sp seems based on no obvious reasons. However the lack of info regarding the condition of Lincs Chinchilla demo plant.
I dont get it either? Is Linc associated with Cougar Energy?
Something is going on be it panic or something else?
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