🕐04.10.10 - 12:54 Uhr
Altona Energy - EQUITY RESEACH - A new way of thinking:
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Dear Felicity,
COMPANY RESEARCH
Altona Energy - A new way of thinking Click for report
Sasols recent announcement that it has flown the worlds first passenger aircraft using entirely synthetic aviation fuel derived from coal highlights the importance of coal-to-liquids (CTL) in modern energy supply.
Altona Energy plans to use this technology to produce liquid fuels from its flagship Arckaringa coal deposit in South Australia where it has signed a joint venture deal with CNOOC.
The third largest state-owned oil company in China, CNOOC, has agreed to provide $40m for a bankable feasibility study (BFS) focused on the development of a CTL plant and cogeneration power facility.
In addition to supplying local demand for fuel and power (including potentially BHP Billitons nearby Olympic Dam project), the joint venture is also looking to export fuel and possibly coal to the Asian markets.
The BFS has now commenced and will continue for at least 24 months.
Altona Energy holds a 49% interest in three exploration licences acquired in October 2005 and covering 2,500km2 in the northern portion of the Arckaringa Basin in South Australia.
The companys immediate focus is the completion of a bankable feasibility study for a coal to liquids plus co-generation facility.
Year
End
Revenue
(m)
PBT
(m)
EPS
(p)
DPS
(p)
P/E
(x)
Yield
(%)
06/08
0.0
(0.8)
(0.26)
0.0
N/A
N/A
06/09
0.0
(1.3)
(0.31)
0.0
N/A
N/A
06/10e
0.0
(2.9)
(0.72)
0.0
N/A
N/A
06/11e
0.0
(1.5)
(0.36)
0.0
N/A
N/A
Altona Energy is a research client of Edison Investment Research.
Price
12p
Listing
AIM
Sector
Metals and Mining
Market Cap
50m
Analysts
Michael Starke
Charles Gibson
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