Twoeasy I have no argument that UCG has been treated abysmally from Political Parties of both streams. Starting with the Cougar Energy Debacle a few years ago. Unfortunately they did not continue the Court Case, but IMO ran out of money and were getting out of the UCG business (which they only licensed the IP for anyway). As we know they ended up doing a deal, changed their plea to guilty and received a 50 or 75K slap on the wrist (which is absolutely nothing in Env. Court) Unfortunately that now gives license to detractors to say that there was a environmental pollution hazard from UCG, played up to out of proportion in my book, but nothing that can now be done with that.
This was followed up earlier this year by Linc being taken to Court for alleged fracture etc, again being played up out of proportion. As you know LNC's response was to exit Queensland. As far as I know that Court matter has yet to be concluded.
CNX on the other hand has weathered all the *&^% and continued to persevere and jump through the hoops. Where I think we are now, is it would be extremely hard for any QLD Gov to avoid letting CNX proceed. They have even hired independent Consultant/s. According to the recent Ann. they have given the green light. Now we await it snails process through the bureaucracy, even though they have stated to CNX to try and meet CNX's timelines.
For myself, a surprising turn of events was Premier Newman and QRC President Rob Neale, giving our Chairman Rawlings an Award for Outstanding Service to the Resources Sector in particular
"The Council noted Dr Rawlings particular contribution to the development of new production methods, improved productivity an improved safety methods."
http://www.carbonenergy.com.au//IRM...manRecognisedforContributiontoResourcesSector
To me this may indicate that they are not only at the stage to give UCG a start, but further they may be electing to proceed with CNX. (and yes I still hold LNC as well)
I have always stated that from a clinical figurative perspective CNX is still a spec buy. However at this point I've also added to my holdings as time has progressed, as I consider should we proceed, then some healthy profits may be in the offing.
But each have their own investment strategies and I can understand you wanting to wait, especially considering the hurdles and disappointments UCG has met over the last half dozen years. It's been a long road to get to this point. Cheers
