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LCK Signs a Heads of Agreement to Commence ISG in China

Coal News - Published on Fri, 16 Aug 2019

Image Source: ABN Newswire
Leigh Creek Energy Limited announced that it has signed a Heads of Agreement to commence In-Situ Gasification in China with China New Energy Ltd. In addition, LCK has been invited to apply for admission as a member of the Shanghai International Energy Exchange by China Lian Cai Petroleum Investment Holdings Limited, a shareholder of the exchange. This HoA originated due to the successful Pre-Commercial Demonstration and production of significant amounts of gas that ultimately led to the 2P reserve designation of 1,153 PJ by independent third-parties.

LCK announced that it has signed a binding Heads of Agreement with China New Energy Ltd to develop In-Situ Coal Gasification in China. CNE was established to partner with overseas companies with demonstrated growth prospects, strong project and commercial management expertise, and commercial opportunities that align with its strategic investment objective. CNE has been the major shareholder in LCK CNE's Vincent Wang and LCK’sJustyn Peters since March 2017.

From the first investment in LCK, CNE has understood that there is a considerable opportunity that exists in taking LCK's ISG process to China. CNE is not just an investor, but a strategic partner with aspirations to produce gas in China with LCK in the future. Now that the PCD has demonstrated the ability to produce quality gas and the project is moving towards its commercial phase, LCK has been able to move forward on its strategy to enter the Chinese energy market.

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Posted By : Sanju Moirangthem on Fri, 16 Aug 2019
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