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Stock price LCK (ASX) A$ 0.20 +0.01 (+8.33%)15 Mar, 3:28 PM GMT+11 - Disclaimer | ||
Leigh Creek Energy is an ASX listed Australian company which is developing an in-situ coal gasification (ISG) project at Leigh Creek, South Australia.
The company's flagship Leigh Creek Energy Project intends to produce gas at the site of the former Leigh Creek coal mine and distribute it to the eastern states of Australia via existing pipeline networks. Project planning commenced in 2011, and an exploration license was obtained by the company in November 2014. The project also intends to develop a fertiliser production facility using waste gas streams and ammonium nitrate explosives for use by South Australia's mining sector. The LCEP will also generate electricity via gas turbines to supply the project and Leigh Creek township. As of April 2016, the company's Managing Director, CEO and CFO is David K. Shearwood, and its non-executive directors are Justyn Peters and Gregory English.
History
According to the Sydney Morning Herald, the company "undertook a back-door listing on the ASX earlier this year using the shell of the former Marathon Resources."
In October 2015, two non-executive directors of Leigh Creek Energy resigned. The outgoing directors were former South Australian politician and political lobbyist, Chris Schacht and Peter Williams. Both were previously directors of Marathon Resources, and their departure marked "the transition of the company from its previous endeavours, to the new management direction as an energy company."
Current non-executive director Justyn Peters is a former executive general manager of Linc Energy Ltd. Between 2006 and 2012 he managed Linc's trial in-situ coal gasification project in Chinchilla, Queensland. In April 2016 the company entered voluntary administration, after being committed to stand trial in March 2016 on five charges related to breaches of environmental regulations and the process of "underground coal gasification" has been banned in Queensland.
Leigh Creek Energy holds petroleum licences over the large coal deposit which spans approximately seven kilometres at Leigh Creek.
In October 2015, David Shearwood stated that the company aimed to be producing gas via in-situ coal gasification at Leigh Creek within three years.