Nikcola, Do you understand what is the problem Cnx facing with the environmental activists.
I wish that I am be able to read what was in the report of EIS (environmental impact study) which was submitted to DNRM.
I'd tell you straight away about the outcome of Blue Gum project.
In a farmer point of view, IF Cnx is attempting to do the gasification closer to the earth surface - 350 meters. Then this sort of 'Fracking' (please argue with farmers, not me mate) will face alot more issues with farmers.
Yes, Qld is abundance of coal resources but They are not for Cnx after all the CSG wells have been fully exploited. The next one is for Geothermal.
If, if and if Cnx is really wanted to target the shallower coal seams. Perhaps, Cnx should try its luck in NSW and VIC.
I want to buy Cnx because I see its futures lie beneath ill-fated coal miners.
If Cnx tries to stick with plans at shallower zones then It'll be the same as Linc and Cougar Energy.
I'll then wait for an announcement of a new joint venture partner.
I'll then wait for a new gas sale contracts to be signed.
I'll wait to see how is the Summa resources disputes up to. And
I'll wait for the Blue Gum project to deliver its first gas to pipelines.
Can Cnx has the luxury to wait and see.
CNX Price at posting:
1.8¢ Sentiment: None Disclosure: Not Held