Carbon Energy Limited - Surat Basin investment grows ...

Excerpt from ABC News:

Surat Basin investment grows

15 September 2008

The massive resources investment in the Surat Basin, in southern Queensland, is continuing, with another two companies proposing billion dollar projects.

Carbon Energy Limited has announced a joint study with a Netherlands-based company for a UCG methanol plant in the region.

Metallica managing director Andrew Gillies says one of its subsidiaries has started drilling for coal and is also looking for sites for underground coal gasification.

"It gets around 80 to 85 per cent of the energy from the coal seam at depths at 200 metres below surface coal gas or syngas and it's brought to the surface and of course that's the building blocks for fuels or fertilisers," he said.

See - Surat Basin investment grows.