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End of An Era In Kilkivan September 2, 2010 - The rail era officially ended in Kilkivan this week with the removal of the historic Bridge Street rail bridge. The small wooden bridge was built in 1888 and allowed traffic to cross above the now closed (and rapidly disappearing) Theebine to Kingaroy rail link. The former Kilkivan Shire Council negotiated with the Queensland Government to remove the bridge as part of a compensation deal struck after the closure of the Theebine railway line. The rail embankment will now be filled and a new roadway will be built in place of the bridge.

Qld Government Holds Key To Cougar's Future September 1, 2010 - The ability of Cougar Energy to continue as a going concern is dependent upon it raising new capital and on the State Government lifting the Environmental Protection Order on its Kingaroy UCG project. Cougar Energy's Preliminary Annual Report released today reveals the company incurred a loss of $4.09 million (more than $1m more than the previous 12 months) and had cash outflows of $4.65 million (more than double from the previous year) during the year ended June 30. Assets totalled $37.6 million but the report states that in the event Cougar Energy is not permitted to proceed with its Kingaroy project, the value of its Kingaroy assets would be impaired. It has been estimated this writedown could be as much as $26 million. The company's forecast working capital requirements for the next 12 months exceeds the company's current cash position. "This indicates a material uncertainty that may cast doubt over the Company's ability to continue as a going concern, unless additional capital can be raised," the report states. However Directors believe there is "a reasonable expectation" that they can raise additional funding. Download Cougar Energy's Preliminary Annual Financial Report Shareholders could have "class action" against State Government * * * The Kingaroy Concerned Citizens Group has released three protest signs which it is urging South Burnett residents who oppose Underground Coal Gasification to post prominently around town. The signs, (right), read "Ban UCG Now", "UCG is Toxic" and "UCG Planned Here". They are available as a set of three for $10. For more information, contact Gary Tessman on 0428-621-991. * * * UPDATE: Late this afternoon Cougar Energy announced that trading in its shares would recommence on the ASX tomorrow (September 2). The company also released its new share prospectus, details of its ongoing equity financing and the text of a letter to shareholders where it has vigorously defended its environmental record and the safety of its Kingaroy UCG Project.

Cougar Requests Another Suspension To Share Trading August 31, 2010 - Cougar Energy has again requested an extension to its voluntary suspension of share trading, this time to September 2. Cougar told the ASX yesterday that is "finalising the terms of a financing facility" and is also finalising the preparation of its annual accounts. "These accounts will be lodged at the same time as a prospectus ... to permit the Company to issue new fully paid ordinary shares that may be traded without restriction," Cougar said. Meanwhile, a Cougar spokesman said yesterday company representatives would meet with Queensland Government officials this week to clarify their request for additional information about the Kingaroy Environmental Evaluation Report. The report by Cougar was submitted to the Department of Environment and Resource Management on August 16 however DERM later notified that it had not accepted the report and would advise of "any further regulatory requirements in due course". The Cougar spokesman said the company intends to respond as quickly as possible to any requests for further information and remains committed to re-commencing operations at its Kingaroy UCG project.

Government Will "Do Everything It Can" To Help Pork Industry August 30, 2010 - The State Government wants to do "everything it can" to grow the Queensland pork industry, Primary Industries Minister Tim Mulherin said last week after visiting Swickers Bacon Factory in Kingaroy. Mr Mulherin said the visit was part of his state-wide strategy to conduct face-to-face meetings with companies that are adding value to primary industries. "It’s important to meet the people behind these operations, see what they are doing and find out if we can help them to expand and employ more Queenslanders," he said. Mr Mulherin said the pork industry was expected to contribute $240 million to Queensland's economy this financial year. "We want to do everything we can to grow the industry to be sustainable and profitable into the future," he said.

Council To Investigate Alleged Illegal Clearing August 27, 2010 - South Burnett Regional Council will investigate what they claim is illegal clearing of vegetation at a rural residential development on Kingaroy-Burrandowan and Boonenne-Ellesmere roads, Kingaroy. The development, by Crystal Property Investment Pty Ltd, is for 40 rural residential allotments and was approved by Kingaroy Shire Council in 2007. It is understood the site is currently subject to a mortgagee sale. In December 2008, Crystal submitted a request to delete a condition that prevented it from burning felled timber on the site. In March, 2009, councillors recommended that the Mayor, CEO and relevant officers discuss with the developers alternative solutions to disposing of the timber. At this month's meeting, councillors voted to refuse the application to remove the condition, stating that burning the felled timber was not feasible due to protected vegetation on the site, the bushfire hazard and the significant number of firefighters and equipment which would be involved. Councillors then voted unanimously to investigate the options available as it believed illegal clearing had occurred on part of the development.