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Australian Underground Coal Gasification plays shown to not contaminate local water
The recent results from the the test by DERM show that UCG as performed by CNX and CXY is safe as far as water contamination is concerned.
Cougar Energy: On Wednesday 11th August 2010, the Queensland Department of Environment and Resource Management removed the restriction on the use of groundwater in bores in a 2km radius around the UCG plant after the latest results showed no concern with water quality. Carbon Energy welcomed the DERM’s announcement that recent comprehensive testing of water quality in Kogan Creek was all clear. “The results of water quality tests from Kogan Creek near Carbon Energy’s underground coal gasification plant near Dalby has not detected any contamination which could cause a risk to humans, plants or animal,” Bradley said. He said there was no evidence of benzene, toluene, ethylbenzene, zylene or any polycyclic aromatic hydrocarbons associated with coal or petroleum products. There was also no detection of mercury in the water column or creek bed samples carried out at 12 locations along Kogan Creek. Of the many studies around the world only 2 poorly thought out and mal-sited UCG operations (both in the USA) have caused any degradation of water supplies. Despite these findings it would be a wise UCG company that shifted its operations out of Qld as fast as they can. As the Labor and LNP have shown themselves to be more than ready to dump on this very valuable emerging fuel source and both parties have actively stirred up the locals in a bid to win seats. UCG player Linc has already bitten the bullet and is shifting its operations to South Australia where they have a couple of billion tons of UCG suitable coal. The most interesting play is who will takeover or combine with CTP who have several trillion tons of UCG suitable coal. My guess is it will be LNC as they have the funds and have shown themselves to be a strategically minded company... mind you getting over a trillion tons of coal that can be converted to several trillion barrels of oil for around .000001 cents per ton seems to be a no-brainer so perhaps some other entity will seize the opportunity.
Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice. |
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ucg, ucg safe, underground coal safe |
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