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Brisbane, Jan 31, 2011 (ABN Newswire) - Linc Energy Limited (
ASX:LNC) (PINK:LNCGY) confirm that it is business as usual for the Company's Chinchilla Underground Coal Gasification (UCG) to Gas to Liquids (GTL) demonstration facility in south west Queensland.
This follows the announcement last Friday by Queensland Minister for Climate Change and Sustainability, The Honourable Kate Jones, to end Cougar Energy's (ASX:CXY) Kingaroy UCG trial on the basis that Cougar Energy could not demonstrate to the Department of Environment and Resource Management and the Independent Scientific Panel that it could recommence its operations without an unacceptable risk of causing environmental harm.
The Company is pleased to note that the same Independent Scientific Panel in its report on Linc Energy acknowledged Linc Energy's database containing a considerable quantity of information, its significant technical capacity, the fact that the Chinchilla demonstration facility is regarded as world's leading practice and its willingness and openness in discussing its operations.
The Queensland Government has accepted the Independent Expert Panel's recommendation that Linc Energy's demonstration facility continue as planned. The Company remains on track to complete its demonstration facility trials in accordance with its previously announced timelines.
Mr Peter Bond, Chief Executive Officer, said, "Linc Energy's superior technological capacity together with its dedication and commitment to professional environmental management has resulted in this pleasing outcome as we approach commercialisation of this valuable technology."
"This is an endorsement of our operations and of our unwavering commitment to environmental management and the wellbeing of the community around which we operate."
Mr Bond confirmed that Linc Energy is not currently subject to any environmental evaluation notices and that all reports provided to the Queensland Government have been accepted.
"The decision by the Queensland Government to shut down Cougar Energy's Kingaroy UCG operation is a matter between an operator and the Queensland Government regulator and is not a comment upon UCG as an industry. The fact that Linc Energy's technical capabilities are acknowledged as world's leading practice reinforces this."
ASX:LNC) (PINK:LNCGY) confirm that it is business as usual for the Company's Chinchilla Underground Coal Gasification (UCG) to Gas to Liquids (GTL) demonstration facility in south west Queensland.This follows the announcement last Friday by Queensland Minister for Climate Change and Sustainability, The Honourable Kate Jones, to end Cougar Energy's (
ASX:CXY) Kingaroy UCG trial on the basis that Cougar Energy could not demonstrate to the Department of Environment and Resource Management and the Independent Scientific Panel that it could recommence its operations without an unacceptable risk of causing environmental harm.The Company is pleased to note that the same Independent Scientific Panel in its report on Linc Energy acknowledged Linc Energy's database containing a considerable quantity of information, its significant technical capacity, the fact that the Chinchilla demonstration facility is regarded as world's leading practice and its willingness and openness in discussing its operations.
The Queensland Government has accepted the Independent Expert Panel's recommendation that Linc Energy's demonstration facility continue as planned. The Company remains on track to complete its demonstration facility trials in accordance with its previously announced timelines.
Mr Peter Bond, Chief Executive Officer, said, "Linc Energy's superior technological capacity together with its dedication and commitment to professional environmental management has resulted in this pleasing outcome as we approach commercialisation of this valuable technology."
"This is an endorsement of our operations and of our unwavering commitment to environmental management and the wellbeing of the community around which we operate."
Mr Bond confirmed that Linc Energy is not currently subject to any environmental evaluation notices and that all reports provided to the Queensland Government have been accepted.
"The decision by the Queensland Government to shut down Cougar Energy's Kingaroy UCG operation is a matter between an operator and the Queensland Government regulator and is not a comment upon UCG as an industry. The fact that Linc Energy's technical capabilities are acknowledged as world's leading practice reinforces this."
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About Linc Energy Limited
Linc Energy is a globally focused, diversified energy company with a strong portfolio of coal, oil and gas deposits. It is Linc Energy's purpose to unlock the value of its resources to produce energy to fuel the future.
A publicly listed company, Linc Energy is the global leader in Underground Coal Gasification (UCG), which delivers a synthesis gas feedstock to supply commercially viable energy solutions – such as electricity, transport fuels and oil production – through gas turbine combined cycle power generation, Gas to Liquids (GTL) Fischer-Tropsch processing and Enhanced Oil Recovery.
Linc Energy has constructed and commissioned the world's only UCG to GTL demonstration facility located in Queensland, Australia. This facility produces the world's only UCG to GTL synthetic diesel fuel. Linc Energy also owns the world's only commercial UCG operation, Yerostigaz, located in Uzbekistan. Yerostigaz has produced commercial UCG synthesis for power generation for 50 years.
Linc Energy is on a rapid global expansion path to commercialise its portfolio of resources, with established offices across three continents in the United States, the United Kingdom and Australia.
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>>>       Cougar Energy Limited>>>   Linc Energy Limited |
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Gas & Oil | Energy General | Mining | Underground Coal Gasification | |
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