MichaelOliver , I bought into LNG at an average of 22c and have...

MichaelOliver ,

I bought into LNG at an average of 22c and have not sold a share yet .

I was a long term holder here of 2+ years standing but sold my entire holding over the past 2 months (except for the options which came by participating in a previous raising which would cost me a lot to sell) .

Reason is that I think Carbon Energy are wasting their time , money and opportunity in Qld .

UCG (as with any other extractive industry) does run the risk of contamination . The intense 1,000c heat can fracture the hanging ceiling and can lead to subsidence .

Carbon Energy's parallel CRIP implementation of UCG enables a more predictable chamber growth so minimises subsidence .... but the risks are still there .

My opinion is that the technology is applicable to countries which need the syngas badly enough to tolerate some subsidence/contamination - over a very small footprint in areas with NO fresh water aquifers .

I'll be looking to re-enter Carbon Energy when they get some traction outside Australia .