National Farmers Federation visit to Felton

NFF President David Crombie and CEO Ben Fargher visited Felton yesterday, accompanied by Agforce Vice-President Ian Burnett, on a fact-finding mission. A large crowd of 80 people gathered at Felton Hall for morning tea & discussion, followed by a visit to the site of Ambre Energy's proposed development, and a visit to the area over which Newmont Pacific Energy holds a Mineral Development Licence.

Ambre Energy in financial trouble?

Ambre Energy's Annual Report 2009 carries a warning from auditors Grant Thornton.


Here's an excerpt -

'In addition...the group has forecast that it may deplete its current cash reserves by June 2010. Sunsequent to year end, the company released an Information Memorandum to raise approximately $10million. At the date of this report, the company has raised approximately $2.6million..... and the directors believe that the balance up to $10million shall be received.

If this funding or alternative sources of capital are not able to be obtained, there exists significant uncertainty whether Ambre energy Limited and its controlled entities would be able to continue as a going concern....'

Ambre has it's eyes on Back Plains too....

Ambre Energy has plans for further drilling at Back Plains , midway between Felton, Nobby , and Clifton. The company claims to have found a 'highly promising prospect'.
Toowoomba Chronicle report here.

People Power triumphs at Traveston

Federal Environment Minister Peter Garret today rejected the Traveston Dam proposal.

"It is clear to me that the Traveston Dam cannot go ahead without unacceptable impacts on matters of national environmental importance" he said.

Now for Felton!

Clean Coal? 'Probably never' - MacFarlane

Senior Coalition frontbencher and chief ETS negotiator Ian MacFarlane put it bluntly when asked about Clean Coal on ABC Four Corners on Monday night.

"The reality is you are not going to see another coal-fired power station built in Australia. That, that's a simple fact. You can talk all the stuff you like about carbon capture storage, that concept will not materialise for 20 years, and probably never" he said.

View the entire program here.

Ambre Energy's so-called Felton 'Clean Coal' Project looks to be in big trouble.....

Clean coal "not viable for 20 years"

The Australian Government's own Carbon Capture & Storage Institute says that 'clean coal' power generation will not be viable commercially until 2030.

"A viable business case for commercial scale, integrated projects has not been established at this time for coal-fired power generation and other large CO2-emitting industries" says a report released by the institute last week.

Media reports here - The Australian, ABC Radio AM

So where does this leave Ambre Energy's so-called Felton 'Clean Coal' Project? Back to the drawing board for a name change perhaps. How about the 'Felton Environmental Destruction Project'?

Watch the latest spoof coal ad from Getup!