Australian Surface Gasification - FuturGas
Large scale strategic coal resource with the potential to supply energy and multiple other value add product streams for South Australia.
FuturGas Project - South Australia
Strike Energy's wholly-owned subsidiary Hybrid Energy Australia Pty Ltd (Hybrid Energy Australia) has exploration licences covering lignite deposits near Kingston in south-eastern South Australia. These licences provide the rights to evaluate the potential for Coal Seam Gas, combustion/gasification and in-seam gasification of the coals. A Competent Person report prepared in May 2007 identified a JORC compliant resource of 578.3 Mt (523.5 Mt of Measured Resource and 54.8 Mt of Indicated Resource).
FuturGas Project
The FuturGas Project is Hybrid Energy Australia's initiative to develop part of the Kingston lignite resource.
Through surface gasification of the coal the project has the scope to produce electric power, liquid hydrocarbons (distillate, naptha), methanol or fertiliser products (urea, ammonia). Evaluation is proceeding to determine the optimal commercial product for this resource which will include a Pre-Feasibility Study (PFS) prior to the commitment to a Bankable Feasibility Study (BFS).
The project has the potential to play a key role in meeting Australia's growing demand for liquid fuels and low emissions power in an environmentally responsible manner.
In response to the difficult market conditions, the Company has implemented a plan designed to advance the FuturGas project with a reduced cost base until an investment partner is secured to commence the prefeasibility study.
FuturGas Project Location
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