Carbon Energy Ltd (ASX:CNX) delay to power station

Company News


Mineral resource exploration company Carbon Energy Ltd (ASX:CNX) says the final stages of the construction and commissioning of its 5 mega watt power station is expected to be delayed a number of weeks.

Due to the delay, construction partner Pangea Partners has been given a 6 week extension for the completion of the power station.

Late last year the company signed an off-take agreement with Ergon Energy for electricity produced at this facility.

Carbon Energy says that whilst the first revenue from the project will be slightly delayed there is no financial penalty to the company associated with the date change.

Carbon Energy posted a loss for the 12 months to June 30, 2009.

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