AI
West Hawk Invited to Participate in Developing Lu'An's Xinjiang Coal Mine and Coal-to-Liquid Projects
Thursday June 5, 10:05 am ET
http://biz.yahoo.com/ccn/080605/200806050466629001.html?.v=1
DENVER, COLORADO--(Marketwire - June 5, 2008) - West Hawk Development Corp. (TSX VENTURE:WHD - News; FRANKFURT:H5N - News; "West Hawk" or the "Company") is pleased to announce that West Hawk has accepted an invitation by Lu'An Mining Group ("Lu'An") to participate in developing its Xinjiang Coal Mine and Coal-to-Liquid projects. Lu'An has secured a coal reserve area consisting of 236 km2 with geological reserves of more than 7 billion metric tons in Zhundong Coalfield in Qitai County, Xinjiang Autonomous Region, China. The proposed Xinjiang coal Mine and Coal-to-Liquid industrial complex will include an 8 to 10 million metric ton coalmine and a 2 million metric ton CTL plant. West Hawk is currently negotiating with Lu'an to take an equity position on the Xinjiang Coal Project.
It has been agreed by the board directors of both West Hawk and Lu'An Group that using Sasol-Lurgi's proven coal gasification and CTL technology can significantly speed up the development process of the proposed Xinjiang CTL project. A delegation consisting of senior executives of both West Hawk and Lu'An will visit Lurgi GmbH in Germany and Sasol Ltd. in late June 2008 to discuss the terms and conditions of the technology transfer for Lu'An's Xinjiang CTL project. In addition a technology transfer to allow West Hawk's potential coal gasification/CTL projects in Canada with Sasol-Lurgi, and Lu'An will be included in the discussions.
Tulita Coal Gasification Project
A Letter of Intent was signed between West Hawk and Lu'An to jointly develop the Tulita coal gasification project in 2007. Based on the 43-101 report prepared by WEIR International, Inc. in 2007, the Tulita coal property in Northwest Territories, Canada has approximately 1.5 billion in-place metric tons of historical coal resources. The coal quality belongs to lignite/sub-bituminous coal ranks. The NWT coal samples have been tested by Sasol-Lurgi for gasification. The test results confirm the suitability of the NWT coal for gasification.
"China is now the world 2nd largest energy producer and consumer. Among the proven fossil energy reserves in China, coal accounts for 93%, while oil and natural gas together only account for 7%. However, oil and natural gas accounts for more than 24% of China's Primary Energy Consumption. To build a stable, economical, clean and safe energy supply system, to support its sustained economic and social development, China is targeting coal gasification to replace oil and natural gas resources with coal in developing its chemical, utility and transportation industries. Lu'An Group is one of three major players in China to develop large scale Coal-to-Liquid projects. West Hawk is very pleased to have this opportunity to participate in developing Lu'An's Xinjiang Coal Mine and CTL Projects," said Dr. Jinsheng Chen, President and CEO of Asia Operations for West Hawk.
On behalf of the Board of Directors,
Dr. Wm. Mark Hart, President and Chief Executive Officer
About the Company: West Hawk Development Corp. is focused on providing valuable, high-demand clean energy products from a variety of sources. Assets include the Figure Four natural gas property located in the Piceance Basin, Colorado, being developed under a drilling and development agreement; the Groundhog coal property located in northwest British Columbia; the Tulita coal property in the Northwest Territories; and the Ellesmere Island, Nunavut Territory coal property.
About Lu'An Mining Group: Lu'An is a multi-billion dollar company listed on the Shenzhen Stock Exchange, China and is a partner of WHE with a focus on gas and coal gasification. Lu'An's business includes coal mining, coal gasification to liquids, coal power generation and coal chemicals.
About Lurgi GmbH: Lurgi is a leading international technology company operating in the field of process engineering and plant contracting. As the market leader in this field Lurgi fulfills the customers' demands for a cost-efficient planning and construction of safe and profitable plants with the specified quality. Reference plants on all continents attest to Lurgi's longstanding experience and leading market position in gas technologies. Around the world Lurgi has already built hundreds of plants for the generation of synthesis gas, hydrogen, carbon monoxide as well as sulfur recovery.
About Sasol Ltd.: Sasol Limited operates as an integrated oil and gas company. The company operates coal mines; produces synthesis gas through coal gasification and natural gas reforming, using its proprietary technology to convert synthesis gas into synthetic fuel components, chemical feedstock, and pipeline gas; markets refined liquid fuel products, including gasoline, fuel alcohol, diesel, jet fuel, illuminating paraffin, LPG, fuel oils, motor and industrial lubricants, and bitumen; and distributes and markets natural gas. The company primarily operates in South Africa, Europe, North America, South America, Asia, Australasia, the Far East, the Middle East, and India. Sasol was founded in 1950 and is headquartered in Rosebank, South Africa.
Cautionary Note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specially noted, are considered speculative. The Company has filed a National Instrument 51-101 Report on the Figure Four property. The Company has filed National Instrument 43-101 Reports for each of the Tulita coal property in the Northwest Territories, the Nunavut Coal property and the Groundhog Coal property. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary note to U.S. investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
The TSX Venture Exchange has not yet reviewed and does not take responsibility for the adequacy or accuracy of the content of this news release.
Contact:
Dr. Wm. Mark Hart
West Hawk Development Corp.
President and Chief Executive Officer
(303) 524-1424
(303) 524-1285 (FAX)
Website: www.westhawkdevelopment.com
--------------------------------------------------------------------------------
Source: West Hawk Development Corp.
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Thursday June 5, 10:05 am ET
http://biz.yahoo.com/ccn/080605/200806050466629001.html?.v=1
DENVER, COLORADO--(Marketwire - June 5, 2008) - West Hawk Development Corp. (TSX VENTURE:WHD - News; FRANKFURT:H5N - News; "West Hawk" or the "Company") is pleased to announce that West Hawk has accepted an invitation by Lu'An Mining Group ("Lu'An") to participate in developing its Xinjiang Coal Mine and Coal-to-Liquid projects. Lu'An has secured a coal reserve area consisting of 236 km2 with geological reserves of more than 7 billion metric tons in Zhundong Coalfield in Qitai County, Xinjiang Autonomous Region, China. The proposed Xinjiang coal Mine and Coal-to-Liquid industrial complex will include an 8 to 10 million metric ton coalmine and a 2 million metric ton CTL plant. West Hawk is currently negotiating with Lu'an to take an equity position on the Xinjiang Coal Project.
It has been agreed by the board directors of both West Hawk and Lu'An Group that using Sasol-Lurgi's proven coal gasification and CTL technology can significantly speed up the development process of the proposed Xinjiang CTL project. A delegation consisting of senior executives of both West Hawk and Lu'An will visit Lurgi GmbH in Germany and Sasol Ltd. in late June 2008 to discuss the terms and conditions of the technology transfer for Lu'An's Xinjiang CTL project. In addition a technology transfer to allow West Hawk's potential coal gasification/CTL projects in Canada with Sasol-Lurgi, and Lu'An will be included in the discussions.
Tulita Coal Gasification Project
A Letter of Intent was signed between West Hawk and Lu'An to jointly develop the Tulita coal gasification project in 2007. Based on the 43-101 report prepared by WEIR International, Inc. in 2007, the Tulita coal property in Northwest Territories, Canada has approximately 1.5 billion in-place metric tons of historical coal resources. The coal quality belongs to lignite/sub-bituminous coal ranks. The NWT coal samples have been tested by Sasol-Lurgi for gasification. The test results confirm the suitability of the NWT coal for gasification.
"China is now the world 2nd largest energy producer and consumer. Among the proven fossil energy reserves in China, coal accounts for 93%, while oil and natural gas together only account for 7%. However, oil and natural gas accounts for more than 24% of China's Primary Energy Consumption. To build a stable, economical, clean and safe energy supply system, to support its sustained economic and social development, China is targeting coal gasification to replace oil and natural gas resources with coal in developing its chemical, utility and transportation industries. Lu'An Group is one of three major players in China to develop large scale Coal-to-Liquid projects. West Hawk is very pleased to have this opportunity to participate in developing Lu'An's Xinjiang Coal Mine and CTL Projects," said Dr. Jinsheng Chen, President and CEO of Asia Operations for West Hawk.
On behalf of the Board of Directors,
Dr. Wm. Mark Hart, President and Chief Executive Officer
About the Company: West Hawk Development Corp. is focused on providing valuable, high-demand clean energy products from a variety of sources. Assets include the Figure Four natural gas property located in the Piceance Basin, Colorado, being developed under a drilling and development agreement; the Groundhog coal property located in northwest British Columbia; the Tulita coal property in the Northwest Territories; and the Ellesmere Island, Nunavut Territory coal property.
About Lu'An Mining Group: Lu'An is a multi-billion dollar company listed on the Shenzhen Stock Exchange, China and is a partner of WHE with a focus on gas and coal gasification. Lu'An's business includes coal mining, coal gasification to liquids, coal power generation and coal chemicals.
About Lurgi GmbH: Lurgi is a leading international technology company operating in the field of process engineering and plant contracting. As the market leader in this field Lurgi fulfills the customers' demands for a cost-efficient planning and construction of safe and profitable plants with the specified quality. Reference plants on all continents attest to Lurgi's longstanding experience and leading market position in gas technologies. Around the world Lurgi has already built hundreds of plants for the generation of synthesis gas, hydrogen, carbon monoxide as well as sulfur recovery.
About Sasol Ltd.: Sasol Limited operates as an integrated oil and gas company. The company operates coal mines; produces synthesis gas through coal gasification and natural gas reforming, using its proprietary technology to convert synthesis gas into synthetic fuel components, chemical feedstock, and pipeline gas; markets refined liquid fuel products, including gasoline, fuel alcohol, diesel, jet fuel, illuminating paraffin, LPG, fuel oils, motor and industrial lubricants, and bitumen; and distributes and markets natural gas. The company primarily operates in South Africa, Europe, North America, South America, Asia, Australasia, the Far East, the Middle East, and India. Sasol was founded in 1950 and is headquartered in Rosebank, South Africa.
Cautionary Note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specially noted, are considered speculative. The Company has filed a National Instrument 51-101 Report on the Figure Four property. The Company has filed National Instrument 43-101 Reports for each of the Tulita coal property in the Northwest Territories, the Nunavut Coal property and the Groundhog Coal property. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary note to U.S. investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
The TSX Venture Exchange has not yet reviewed and does not take responsibility for the adequacy or accuracy of the content of this news release.
Contact:
Dr. Wm. Mark Hart
West Hawk Development Corp.
President and Chief Executive Officer
(303) 524-1424
(303) 524-1285 (FAX)
Website: www.westhawkdevelopment.com
--------------------------------------------------------------------------------
Source: West Hawk Development Corp.
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PEAK WATER #board-12656
Solar #board-11148
Grass Roots #board-9037
PEAK OIL #board-6609
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