CLEAN GLOBAL ENERGY LTD - ASX: CGV

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Description

Clean Global Energy is an international energy company headquartered in Sydney, Australia and listed on the Australian Stock Exchange (ASX:CGV) in October 2009.

CGE is capable of turning global supplies of sub-economic coal that is unlikely to be mined traditionally, into a commercially viable, cheaper energy source known as synthetic gas, or Syngas, through an environmentally-kinder mining technique known as underground coal gasification (UCG).

CGE can produce Syngas for power generation and heating, as well as producing chemicals, fertilisers and cleaner diesel and aviation fuels.

HIGHLIGHTS FROM THE SEPTEMBER 2011 QUARTERLY REPORT

- CGE announced a non-renounceable entitlement offer of options to raise approximately $453,144.04 before issue costs. This will enable the company to increase its cash reserves towards working capital.
- EPC 1748 was formally granted by the Queensland Mines and Energy, Department of Employment, Economic Development and Innovation in October 2011.
- CGE continues to develop its propriety UCG technology and evaluate suitable sites for UCG overseas, most notably in North America and India.
- CGE resolved its dispute with Mr Wayne O'Brien and his associated companies. Whilst the terms of the settlement are confidential, the settlement involved the completion of the convertible note liability to a company associated with Mr O'Brien , and full releases.

Mine For

coal, coal seam gas, oil, gas, syngas

Location of operation(s)

Queensland, Victoria, China, India, USA

Address

Level 21, Allendale Square, 777 St Georges Terrace
PERTH, WA, Australia

Phone

+61 8 9389 2000

Email

Website

http://www.cleanglobalenergy.com.au/

Last Updated

13/12/2011