Carbon Energy

Status: Near term energy producer In May 2010, PRRF became a cornerstone investor in ASX listed Carbon Energy Limited through the acquisition of a 10% stake (in conjunction with a co-investor) from the Commonwealth Scientific and Industrial Research Organisation (CSIRO). PRRF also has an option over the purchase of CSIRO’s remaining 4.8% shareholding. Gas is produced using Underground Coal Gasification (UCG) technology developed by the CSIRO and owned by Carbon Energy. Carbon Energy is developing a 5MW gas fired power station at its Bloodwood Creek project in Queensland and plans to progressively roll out power generation at Bloodwood Creek. Incitec Pivot has exclusive global rights to use Carbon Energy’s UCG technology for ammonia and ammonia derived product manufacture. Carbon Energy has an Agreement with Antofagasta Minerals S.A. to jointly assess and develop a coal deposit in Chile using Carbon Energy’s UCG technology.