Moreton Resources
| Company type | Publicly listed company |
|---|---|
| ASX: CXY | |
| Industry | Coal |
| Founded | 1994 |
| Headquarters | , |
Key people | Rob Neill (CEO and Managing Director) Len Walker (Executive Director and founder of Cougar Energy) |
| Products | Coal Syngas Electricity |
| Subsidiaries | Cougar Energy (UK) Ltd Cougar Energy UCG Pty Ltd Cougar Energy Pakistan (Private) Limited Cougar Direct Invest China Limited |
| Website | www.cougarenergy.com.au |
Cougar Energy Limited (former names: Pinnacle Mining NL and Pinnacle VRB Limited[1][2][3]) is an Australian energy company specialized on underground coal gasification and electric power production by produced syngas. In addition to Australia, the company plans underground coal gasification projects in the United Kingdom, India, Pakistan, China, and Mongolia.[4] Chief executive officer of the company is Rob Neill.[5]
History
The company was established in 1994 as Pinnacle Mining NL. On 5 June 1998 it changed its name to Pinnacle VRB Limited.[1] In 2006, the company acquired Cougar Energy Pty Ltd.[6] After merger, the company changed name to Cougar Energy Limited on 16 February 2007.[1]
Operations
Cougar Energy has a licence agreement with Ergo Exergy Technologies for utilization of the underground coal gasification technology developed by Ergo Exergy. The main underground coal gasification pilot project developed by Cougar Energy is located near Kingaroy, Queensland. The first syngas at Kingaroy pilot plant was produced on 16 March 2010.[7][8] When starting commercial scale production, the company plans to use produced gas at the proposed 400 MW Kingaroy Power Plant.[9]
Other projects include the underground coal gasification plants at Wandoan, Queensland (the Surat Basin), and Latrobe Valley, Victoria, in Australia and at the Thar Coal Field in Pakistan. Cougar Energy has also signed memorandums of understanding with Essar Oil and Exploration for cooperation in India and with Inner Mongolia Qi De Investment Co. Ltd. for cooperation in China.[10] Plans for its first commercial underground coal gasification project in Indonesia are progressing under an agreement with its strategic partner PT MedcoEnergi Mining. This will initially involve the development of a 30 megawatt power plant using UCG gas as feedstock.[citation needed]
Conventional coal assets situated in Bowen and Surat Basins are (subject to government approvals) to be placed in the wholly owned subsidiary Kandoman Resources. Kandoman Resources will hold Cougar's Wandoan and Mackenzie coal tenements in Queensland.[citation needed]
Incidents
On 16 July 2010, the Kingaroy pilot plant was temporary shut down after traces of benzene and toluene were detected in groundwater monitoring bores.[11][12] However, the level of hydrocarbons in the water was 95% lower than Australian drinking water guidelines.[13] Two readings analysed by the independent testing laboratory also proved to be false and provided incorrect results. Copies of these mistakes were contained in further independent reports provided by Cougar Energy to DERM who subsequently acknowledged and accepted the findings. Cougar Energy has initiated two legal actions in Queensland seeking damages for the closing down of the Kingaroy plant as well as orders to permit the re-opening of operations at the plant.[14][15]
See also
References
- ^ a b c "Cougar Energy Limited (CXY)". InvestoGain Australia. Retrieved 2013-01-16.
- ^ "Cougar Energy Limited". Credit Risk Monitor. Retrieved 2013-01-16.
- ^ "Cougar Energy Limited". ConstructionSite. Retrieved 2013-01-16.
- ^ "Cougar Energy Signs MoU for UCG Projects in China and Mongolia". OilVoice. 2009-12-14. Retrieved 2010-07-31.
- ^ "Cougar Energy appoints new CEO & Managing Director". OilVoice. 2012-06-24. Retrieved 2013-01-16.
- ^ Yeo, Bevis (2006-07-05). "Pinnacle ventures into coal gasification". Upstream Online. NHST Media Group. (subscription required). Retrieved 2013-01-16.
- ^ "Cougar Energy Update on UCG Pilot Project at Kingaroy in Queensland". OilVoice. 2010-04-27. Retrieved 2010-07-31.
- ^ "Cougar To Ramp Up UCG Process Down Under". Cougar Energy. Downstream Today. 2010-03-16. Retrieved 2010-07-31.
- ^ Evans, Damon (2008-06-10). "Cougar set to raise cash for coal vision". Upstream Online. NHST Media Group. Retrieved 2010-07-31.
- ^ "China UCG Joint Venture Announces First Project" (PDF) (Press release). Cougar Energy. 2010-05-31. Retrieved 2010-07-31.
- ^ Lewis, Josh (2010-07-16). "Ground water carcinogens shut down Cougar". Upstream Online. NHST Media Group. Retrieved 2010-07-31.
- ^ Lewis, Josh (2010-07-19). "Test results positive for Cougar". Upstream Online. NHST Media Group. Retrieved 2010-07-31.
- ^ Lewis, Josh (2010-07-20). "Cougar suspends trading". Upstream Online. NHST Media Group. Retrieved 2010-07-31.
- ^ Hobbs, Andrew (2012-02-07). "Cougar moves on appeal". Upstream Online. NHST Media Group. Retrieved 2013-01-16.
- ^ Lewis, Josh (2012-02-07). "Cougar sharpens claws for legal battle". Upstream Online. NHST Media Group. (subscription required). Retrieved 2013-01-16.