True Green Led PLC (TGQ): Acquires Energie Future NL an Australian alternative energy company which is developing a world class Underground Coal Gasification (UCG) project valued at USD241 million
04.08.2011
True Green Led PLC / Key word(s): Energy/
True Green Led PLC (TGQ): Acquires Energie Future NL an Australian
alternative energy company which is developing a world class
Underground Coal Gasification (UCG) project valued at USD241 million
DGAP-Media / 04.08.2011 / 16:12
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4 August 2011
True Green LED plc to Acquire
Energie Future NL
Key Points
- True Green LED has entered into an agreement to acquire 100% of the
shares of an Australian alternative energy company Energie Future NL
which is developing a world class Underground Coal Gasification (UCG)
project.
- As part of the purchase 40,000,000 new ordinary shares will be issued
by TGQ.
- Energie Future is currently developing an advanced coal to liquids
project in Rawlins, Wyoming USA where more than $100 million has been
spent to date by Gulf Oil, the US Department of Energy and The Williams
Companies Inc on Energie Future's Rawlins project.
- The project has been independently valued for the purpose of this
transaction. The valuation reported the net asset value is $241m and
the fully risk adjusted value has been discounted to $82m.
- Energie Future is finalising arrangements to extend its existing JORC
resource of 62m tonnes at Rawlins.
- Energie Future is also developing a 3,000 barrel per day coal to
liquids project. Ultra clean diesel is anticipated to be produced at a
cost of less then $30/ barrel.
- CO2 produced at the Rawlins site will be available for
geo-sequestration as part of an enhanced local oil recovery programme
which will further enhance the highly attractive project economics even
further.
Tue Green LED plc (ISIN:GB00B5KWSD97 and Frankfurt Stock Exchange symbol:
TGQ) is pleased to announce that is has entered into a contract to acquire
all of the capital of clean energy company Energie Future NL in keeping
with the vision of TGQ as a 'green' technology company.
Energie Future is developing one of the most advanced Underground Coal
Gasification Plants located at Rawlins, USA. Stage 1 is a 3,000 barrel per
day project that has been valued by independent experts for this
transaction. Net asset value is $241 million and with a risk adjusted at
$82 million. Energie Future plans to ultimately produce 50,000 barrels per
day at the site.
The site has been extensively explored by Raven Ridge Resources
Incorporated (www.ravenridge.com), with extensive coal characterisation and
resource studies conducted in previous exploration campaigns. Energie
Future is finalising contracts which will give Energie Future an initial
JORC resource of 62m tonnes in the exploration zone, with additional
contiguous areas also with significant exploration potential.
Raven Ridge will continue to be responsible for the ongoing coal resource
characterisation and reserve development work contemplated at the Rawlins
site. Additional contiguous areas have significant exploration potential.
Rawlins has been the site of three successful UCG trials. The first two by
Gulf Oil and the US Department of Energy and the third by The Williams
Companies Inc., the second trial being one of only a handful of commercial
scale UCG trials outside of the CIS (Commonwealth of Independent States,
the former USSR).
/
Acquiring Energie Future will give True Green LED a major advantage over
all other companies around the world that are seeking to commercialise the
UCG process. The ability to achieve an accelerated time line for the
project is due to the existing infrastructure & extensive trials by Gulf
Oil and The Williams Companies.
Energie Future benefits from over US$100 million that has been invested
over a 30 year period in the Rawlins site and has the rights to:
- The detailed data from three trials at the site between 1979 and 1995,
one of which was a commercial trial which ran for three months with
coal consumption of 200 tonnes per day;
- An extensive database of UCG operational performance;
- Extensive coal target definition, including seismic and drilling to
estimate the magnitude and suitability of the coal for UCG;
- Detailed design of UCG modules and well bore configuration;
- 4 Injection, 1 production and 18 monitoring wells which remain in place
and ready to commence gasification;
- Extensive environmental work and approvals including environmental
baselines which themselves would take 18 months to generate; and
- A full commercial feasibility for a UCG base coal to liquids plant and
further feasibility study for an Ammonia Plant completed in 1995.
Energie Future is planning to have a full feasibility study completed and
approvals in place within 24 months and is setting a target to commence
commercial production of the gas to liquids plant within 42 months. UCG
trials are expected to commence earlier than this.
Work will commence shortly on a feasibility study for the detailed design
of the 3,000 barrel per day gas to liquids project. This work will be
greatly assisted by having access to the previous feasibility studies
acquired from The Williams Group.
/
A 3,000 barrel per day gas to liquids plant will be the first stage of a
project that is aimed at having a capacity to reach up to 50,000 barrels
per day. The plant will utilise the Small Fixed Bed Fischer Tropsch Process
and proprietary catalysts developed by Energie Future's Pittsburgh based
partner, Energy Technology Partners LLC. The Small Fixed Bed technology is
expected to produce at very competitive capital and operating costs bases.
Oil production in Wyoming has been declining for a number of years. The
production decline has been slowed through the use of enhanced oil recover
(EOR) techniques. CO2 injection is a major contributor to Wyoming's oil
production; however the amount of production is limited by the availability
of CO2. Energie Future is currently looking for EOR opportunities which
would significantly increase its project returns.
Mr Somerton, CEO of Energie Future said 'The acquisition of Energie Future
by TGQ will give us much improved access to capital to undertake our
project and to provide shareholders a market to trade their investment.'
About Energie Future and UCG
Energie Future NL is a clean energy company which seeks to monetise
stranded energy assets by applying proven technologies. Other innovative
companies active in this clean coal technology field are Linc Energy,
Carbon Energy and Wildhorse Energy.
Energie Future is actively developing an ultra clean diesel project using
UCG and proprietary Fischer Tropsch gas to liquids technology. Energie
Future's technology partners are leaders in the UCG and gas to liquids
fields.
Energie Future will use innovative technology to monetise otherwise
stranded energy assets around the world.
Contact:
Info@tgled.biz or
Rick Somerton
Chief Executive Officer
Energie Future NL
Tel: +61 434 510 507
rick@energiefuture.com.au
Safe Harbor Statement: The statements contained herein which are not
historical are forward- looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially from
those expressed in the forward- looking statements, including, but not
limited to, certain delays beyond the company's control with respect to
market acceptance of new technologies or products, delays in testing and
evaluation of products, and other risks detailed from time to time.
End of Media Release
=--------------------------------------------------------------------
04.08.2011 Dissemination of a Press Release, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
=--------------------------------------------------------------------
134497 04.08.2011
True Green Led PLC / Key word(s): Energy/
True Green Led PLC (TGQ): Acquires Energie Future NL an Australian
alternative energy company which is developing a world class
Underground Coal Gasification (UCG) project valued at USD241 million
DGAP-Media / 04.08.2011 / 16:12
=--------------------------------------------------------------------
4 August 2011
True Green LED plc to Acquire
Energie Future NL
Key Points
- True Green LED has entered into an agreement to acquire 100% of the
shares of an Australian alternative energy company Energie Future NL
which is developing a world class Underground Coal Gasification (UCG)
project.
- As part of the purchase 40,000,000 new ordinary shares will be issued
by TGQ.
- Energie Future is currently developing an advanced coal to liquids
project in Rawlins, Wyoming USA where more than $100 million has been
spent to date by Gulf Oil, the US Department of Energy and The Williams
Companies Inc on Energie Future's Rawlins project.
- The project has been independently valued for the purpose of this
transaction. The valuation reported the net asset value is $241m and
the fully risk adjusted value has been discounted to $82m.
- Energie Future is finalising arrangements to extend its existing JORC
resource of 62m tonnes at Rawlins.
- Energie Future is also developing a 3,000 barrel per day coal to
liquids project. Ultra clean diesel is anticipated to be produced at a
cost of less then $30/ barrel.
- CO2 produced at the Rawlins site will be available for
geo-sequestration as part of an enhanced local oil recovery programme
which will further enhance the highly attractive project economics even
further.
Tue Green LED plc (ISIN:GB00B5KWSD97 and Frankfurt Stock Exchange symbol:
TGQ) is pleased to announce that is has entered into a contract to acquire
all of the capital of clean energy company Energie Future NL in keeping
with the vision of TGQ as a 'green' technology company.
Energie Future is developing one of the most advanced Underground Coal
Gasification Plants located at Rawlins, USA. Stage 1 is a 3,000 barrel per
day project that has been valued by independent experts for this
transaction. Net asset value is $241 million and with a risk adjusted at
$82 million. Energie Future plans to ultimately produce 50,000 barrels per
day at the site.
The site has been extensively explored by Raven Ridge Resources
Incorporated (www.ravenridge.com), with extensive coal characterisation and
resource studies conducted in previous exploration campaigns. Energie
Future is finalising contracts which will give Energie Future an initial
JORC resource of 62m tonnes in the exploration zone, with additional
contiguous areas also with significant exploration potential.
Raven Ridge will continue to be responsible for the ongoing coal resource
characterisation and reserve development work contemplated at the Rawlins
site. Additional contiguous areas have significant exploration potential.
Rawlins has been the site of three successful UCG trials. The first two by
Gulf Oil and the US Department of Energy and the third by The Williams
Companies Inc., the second trial being one of only a handful of commercial
scale UCG trials outside of the CIS (Commonwealth of Independent States,
the former USSR).
/
Acquiring Energie Future will give True Green LED a major advantage over
all other companies around the world that are seeking to commercialise the
UCG process. The ability to achieve an accelerated time line for the
project is due to the existing infrastructure & extensive trials by Gulf
Oil and The Williams Companies.
Energie Future benefits from over US$100 million that has been invested
over a 30 year period in the Rawlins site and has the rights to:
- The detailed data from three trials at the site between 1979 and 1995,
one of which was a commercial trial which ran for three months with
coal consumption of 200 tonnes per day;
- An extensive database of UCG operational performance;
- Extensive coal target definition, including seismic and drilling to
estimate the magnitude and suitability of the coal for UCG;
- Detailed design of UCG modules and well bore configuration;
- 4 Injection, 1 production and 18 monitoring wells which remain in place
and ready to commence gasification;
- Extensive environmental work and approvals including environmental
baselines which themselves would take 18 months to generate; and
- A full commercial feasibility for a UCG base coal to liquids plant and
further feasibility study for an Ammonia Plant completed in 1995.
Energie Future is planning to have a full feasibility study completed and
approvals in place within 24 months and is setting a target to commence
commercial production of the gas to liquids plant within 42 months. UCG
trials are expected to commence earlier than this.
Work will commence shortly on a feasibility study for the detailed design
of the 3,000 barrel per day gas to liquids project. This work will be
greatly assisted by having access to the previous feasibility studies
acquired from The Williams Group.
/
A 3,000 barrel per day gas to liquids plant will be the first stage of a
project that is aimed at having a capacity to reach up to 50,000 barrels
per day. The plant will utilise the Small Fixed Bed Fischer Tropsch Process
and proprietary catalysts developed by Energie Future's Pittsburgh based
partner, Energy Technology Partners LLC. The Small Fixed Bed technology is
expected to produce at very competitive capital and operating costs bases.
Oil production in Wyoming has been declining for a number of years. The
production decline has been slowed through the use of enhanced oil recover
(EOR) techniques. CO2 injection is a major contributor to Wyoming's oil
production; however the amount of production is limited by the availability
of CO2. Energie Future is currently looking for EOR opportunities which
would significantly increase its project returns.
Mr Somerton, CEO of Energie Future said 'The acquisition of Energie Future
by TGQ will give us much improved access to capital to undertake our
project and to provide shareholders a market to trade their investment.'
About Energie Future and UCG
Energie Future NL is a clean energy company which seeks to monetise
stranded energy assets by applying proven technologies. Other innovative
companies active in this clean coal technology field are Linc Energy,
Carbon Energy and Wildhorse Energy.
Energie Future is actively developing an ultra clean diesel project using
UCG and proprietary Fischer Tropsch gas to liquids technology. Energie
Future's technology partners are leaders in the UCG and gas to liquids
fields.
Energie Future will use innovative technology to monetise otherwise
stranded energy assets around the world.
Contact:
Info@tgled.biz or
Rick Somerton
Chief Executive Officer
Energie Future NL
Tel: +61 434 510 507
rick@energiefuture.com.au
Safe Harbor Statement: The statements contained herein which are not
historical are forward- looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially from
those expressed in the forward- looking statements, including, but not
limited to, certain delays beyond the company's control with respect to
market acceptance of new technologies or products, delays in testing and
evaluation of products, and other risks detailed from time to time.
End of Media Release
=--------------------------------------------------------------------
04.08.2011 Dissemination of a Press Release, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
=--------------------------------------------------------------------
134497 04.08.2011
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