Carbon Energy (ASX:CNX) has received a price and volume query from the ASX after its shares rose to a high of $0.032 today from a low of $0.019 on Friday, 17 April 2015.
In its response, the company said it was unaware of any information not already released that may account for the recent trading.
In January, the company secured a $1.2 million loan facility with Macquarie Bank (ASX:MQG).
The company's Blue Gum Gas Project will be the first commercial UCG project in Australia and unlock the fifth largest Proved and Probable (2P) Reserve of 1,128 petajoules (PJ) in Queensland.
It is waiting on the Queensland Government to approve the Rehabilitation Plan for the Bloodwood Creek underground coal gasification trial.
The plan, together with the Decommissioning Report submitted in August 2014, demonstrates Carbon Energy’s gas production technology is safe, effective, highly controlled and minimises impact on groundwater volumes and quality.
Once the plan is considered and approved, the company will move ahead with commercialising the Blue Gum Gas Project.
News: Carbon Energy’s rising share price attracts ASX query
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