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Old 12-10-2012, 12:48 AM
Sparty Sparty is offline
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Default Linc evaluating underground coal gasification (UCG) in the Ukraine- Syngas by 2014?

Linc Energy Ltd (ASX:LNC) (OTCQX:LNCGY) is pleased to announce it has entered into an agreement to collaborate with DTEK Oil and Gas for the purpose of evaluating underground coal gasification (UCG) potential in the Ukraine on DTEK's local coal resources. DTEK Holdings, the parent company of DTEK Oil and Gas, is the largest privately owned, vertically integrated energy company in Ukraine with interests in coal mining, power generation and electricity distribution companies.

As an entrepreneurial company, DTEK Oil and Gas is seeking to assess the opportunity to utilise UCG to help address Ukraine?s growing reliance on imported, expensive and often unreliable natural gas and to fill their capacity gap at DTEK's existing gas-fired power plants.

Linc Energy was selected by DTEK as its preferred strategic partner following a thorough review of the current UCG market and the unique world leading experience offered by Linc Energy as demonstrated through the visit of DTEK management to the Chinchilla UCG to GTL demonstration Facility on two separate occasions over the past 6 months.

DTEK has agreed to pay Linc Energy for an initial resource assessment, adding further validation of Linc Energy's Clean Energy Division and the intrinsic value within Linc Energy's technical and commercial capability.

If a coal resource suitable for UCG commercialisation is identified, the parties intend to cooperate to bring a UCG gas project to commercial fruition in the Ukraine over the next few years.

Linc Energy, on initial review so far, is confident that it will locate a suitable UCG coal resource as part of the study that is about to be undertaken in the Ukraine.

Linc Energy's President of Clean Energy, Mr Adam Bond, said, "As Linc Energy continues to grow its presence in the European energy market, we are pleased to be working with one of the Ukraine's major energy stakeholders in DTEK Oil and Gas to make the assessment of UCG's potential in the Ukraine."

Mr Bond further noted, "The energy market in the Ukraine signifies a number of the key attributes as to why Linc Energy made the strategic commitment to expand its operations into Europe. DTEK is an obvious partner for Linc Energy in this region of Eastern Europe and we are very proud to be working with the company going forward."

Maxim Timchenko, Chief Executive Officer of DTEK, said, "Cooperation with Linc Energy allows for a new way of looking at the issue of efficiently and safely utilizing Ukraine's proven coal reserves.

Environmentally friendly production of syngas will enable us to exploit coal reserves that cannot be developed by traditional mining methods.

In addition, UCG gives new life to gasbased electricity generation projects.

All of this will help to reduce the energy dependence of Ukraine. The Company continues its policy of utilizing domestic coal and alternative energy sources. We expect syngas production will start in 2014."
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Old 12-10-2012, 01:05 AM
Sparty Sparty is offline
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Default Perdika or Sapex's coal next

I expect that as the news of LNC's Ukraine project sinks in there will be quite a lot of renewed interest in CTP's vast Perdika coals that have been evaluated as being highly suitable for UCG.

LNC may also chose to develop their own large UCG suitable coal resources acquired by their Sapex deal.

But the really big bucks are likely to be made in the Perdika.... Liquid fuel independence for Australia is now a step closer.
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Old 02-12-2013, 06:45 AM
Sparty Sparty is offline
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Default Linc Energy EV/2P Comparables

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