ASX Announcement
22 December 2014
Level 9, 301 Coronation Drive,
Milton QLD 4064 Australia PO Box 2118, Toowong DC QLD 4066 Australia
phone + 61 (0) 7 3156 7777 fax + 61 (0) 7 3156 7776
www.carbonenergy.com.au
Carbon Energy Limited
ABN 56 057 552 137
Carbon Energy (Operations) Pty Ltd
ABN 61 105 176 967
Carbon Energy Operations Update
• Government's independent review process complete
• DEHP will now submit recommendations to DNRM
• Blue Gum Gas Project now poised for development
• International business initiatives continue
Carbon Energy (ASX: CNX, OTCQX: CNXAY) advises that it is one step closer to obtaining approval to develop its first commercial scale gas project in Queensland. The Company has received confirmation from the Department of Environment and Heritage Protection (DEHP) that the Government appointed external consultant has completed its review of the Company's Decommissioning Report and Rehabilitation Plan.
The Company understands that a decision by Government is now only subject to consideration of the final reports from DEHP and the Department of Natural Resources and Mines (DNRM) (lead agency for this process) which are expected to be submitted in the New Year.
CEO and Managing Director Morné Engelbrecht said, "As soon as the Government has fully considered the Departmental recommendations, we are poised to move ahead with commercialising the Blue Gum Gas Project."
The demonstrated and scientifically assessed Bloodwood Creek trial results provide strong confidence in the Company's technology through its complete lifecycle, from initiation to rehabilitation, which now underpin the marketing of the technology. While the Queensland Government considers the Departmental recommendations, the Company will increase its attention on securing further licensing opportunities globally, armed with the data supporting the outcomes from the Bloodwood Creek trial.
Mr Engelbrecht went on to say, "As we await a final decision from Government, we will be directing our resources toward both securing off-take and development partners for our Blue Gum Gas Project and advancing our international business development program. The environmental results that we have achieved from the
Bloodwood Creek trial provide us with a powerful demonstration of the advanced and leading nature of our gas production technique," Mr Engelbrecht said.
Carbon Energy would like wish everyone a very happy Festive Season and
Prosperous New Year.
ENDS
For an behalf of the Board
Morné Engelbrecht
Managing Director & Chief Executive Officer
www.carbonenergy.com.au