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This stock has jumped out of the blocks today on CSG announcement...this was an IPO a couple of months ago anyone have any comments about it??
US air force eyes alternative fuel
SMH October 27, 2007 - 5:49PM
The world's most powerful air force is seeking to wean itself from foreign oil and nearly wipe out its carbon dioxide output as part of a sweeping alternative energy drive, a senior Pentagon official said.
By early 2011, the US air force aims to make sure its entire fleet of bombers, fighters, transports and other aircraft can use a domestically produced 50-50 blend of synthetic and petroleum-based fuel.
William Anderson, an assistant air force secretary, said the goal was to reduce energy demand, look for cleaner power sources and to reuse captured carbon commercially, for instance to enhance the growth of biofuels or improve oil well production.
"We can get ourselves very close to a zero carbon footprint," said Anderson ahead of talks on the issue with counterparts in Britain and France next month.
"Not today. Not tomorrow. But maybe a decade or so down the road," he told a briefing at the State Department's Foreign Press Centre.
Anderson said the air force's economic clout as a purchaser could help promote sources of power that do not add to emissions of greenhouse gases. Such gases trap heat in the atmosphere.
The largest US solar-electric power array of 14.2 megawatts is to open in December at Nellis Air force Base in Las Vegas, and Anderson said Congress had asked the service to consider if its bases are appropriate sites for small nuclear facilities.
Anderson said the effort on synthetic jet fuel had been spurred by the 2006 challenge to the nation from President George W Bush to wean itself from its "addiction" to imported oil. Oil supplies are diminishing, Anderson said.
On Monday, a C-17 Globemaster cargo aircraft, workhorse of the US-led wars in Iraq and Afghanistan and the military's biggest user of jet fuel, flew for the first time with a coal-derived synthetic blend as the only fuel on board.
Anderson said jet fuel from coal produced 1.8 times more carbon dioxide between production and consumption as jet fuel from oil, but he said most of that additional amount could be captured during production of the synthetic fuel.
Coal was abundant in United States and renewable energy sources could not meet growing energy demands. "Coal is going to play big in the future, we believe, based on all projections," said Anderson, assistant secretary for installations, environment and logistics.
US air force global operations require a huge amount of energy. In fiscal 2006, the service consumed almost 2.6 billion gallons of aviation fuel at a cost of more than $US5.7 billion ($A6.3 billion), according to an air force fact sheet.
Jet fuel accounts for 81 per cent of the air force's total $US7 billion ($A7.7 billion) a year in energy spending, said Anderson.
For every $US10 ($A11) jump in the price of a barrel of oil, air force costs rise $US610 million ($A673 million), a sum that eats into modernisation efforts and other programs if not offset by additional funds from Congress, he said.
In France and in Britain, Anderson said he would reach out to industry as well as to sister air forces in the hope of speeding up energy-saving efforts worldwide.
"We believe that we have to find an environmentally friendly way to mine coal and to burn coal," he said. "We believe the technology is very close, and we believe that an organisation with the market size and presence of the United States air force can help move technology forward to make coal a much cleaner and greener alternative across the board."
© 2007 Reuters
SXP.... 65000km² of Exploration Licences in South Aus prospective for coal/CSG/UCG/CTL and oil/gas.
1.7 billion t initial Jorc inferred sub-bituminous coal resource ann for 2 of the EL's; Target4to 5 billion t for these 2 EL's.
Recently signed an MOU with LNC to target insitu production of power & synthetic diesel from SXP's coal resources using UCG (Undergroundcoal gasification) & CTL (Coal to Liquid).
Potential to supply energy to Olympic Dam & Prominent Hill developments.
These guys are generating a good flow of very positive ann's.
Current market cap about $40mill. 90 mill SXP @ $0.33 & 70 mill SXPO currently $0.24. Options ex at 25c at or before Jan 2012. .
Board promising, with considerable knowledge of SA geology.
SXP holds the entire Arckaringa Basin, whose geology it suggests as a potential geological "repetition" of the CooperBasin.
I do hold....
Sapex sure have a huge coal resource, huge potential for coal seam gas and also petroleum exploration potential. I bought in soon after the IPO and sold at 37c. Recently i bought in again at 21.5c as i think 2008 could be an exciting year for SPX. In my opinion, with a current MC of under $20 million, it wouldn't take much good news to see this one get a kick along. At around 20c it would appear very good value IMHO, however, DYOR
SAPEX TO LAUNCH NEW OIL & GAS EXPLORATION
IN THE ARCKARINGA BASIN
The most detailed oil and gas exploration activity in some 25 years on South Australia’s Arckaringa Basin is about to begin under a new contract announced today by SAPEX Limited (ASX: SXP).
SAPEX said it had signed a contract with Terrex Seismic to conduct a seismic survey in the Arckaringa Basin, with field work getting under way next month.
It will be the first seismic survey to be conducted in the Basin since early in the 1980s and will total 428 km of 2D seismic.
Approximately half of the seismic work will provide detailed coverage over two areas in the Boorthanna Trough where interpretation has indicated several prospects and leads.
“SAPEX is aiming to drill two exploratory wells before the end of the year, subject to thecompletion of processing and interpretation of the data and the securing of a suitable rig,” he said.
"The second part of the survey is a regional 2D program aimed at the determining the southward extension of the Boorthanna Trough.
“Field operations are expected to commence late in April and take approximately 6 weeks to complete.”Reports of the progress of the oil and gas seismic survey will be made to the market.
Adelaide-based SAPEX holds a 100% interest in the under-explored Arckaringa Basin, with 65,000 sq km under 7 granted PELs.
As well as the new oil and gas exploration activity announced today, the Company, through the recently announced farmin with Eastern Star Gas, will soon be undertaking the first ever coal seam gas (CSG) investigation into South Australia’s vast coal deposits.
SAPEX was recently granted $100,000 by the South Australian Government’s PACE program towards the CSG program in the Arckaringa Basin.
While there has been considerable coal-mining exploration and drilling undertaken in the Basin, no assessment has ever been made of the gas content in the coal and no major CSG investigation has ever been undertaken on SA’s coal deposits.
SAPEX is undertaking a thorough appraisal of the potential of the CSG with the view of supplying clean energy to the significant energy markets emerging in this region of South Australia, viz. to major mineral projects.
In addition, Linc Energy will be undertaking drilling into coal deposits to assess the suitability of the coals for underground coal gasification which, if successful could lead to the production of clean diesel and also be an energy source for power generation.
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