News blog
Alkane Energy
- BY: Andrew Hore |
- POSTED: 29/05/2012 |
Coal mine methane producer and electricity generator Alkane Energy says that the average electricity price is expected to be around £53/MWh, up from £51/MWh last year.
Alkane has already secured contracts for 80% of its 2012 electricity output following the acquisition of Greenpark. Around 18% of 2013 output has been contracted at £52/MWh. Alkane believes that electricity prices will rise over the long-term.
Output for the original Alkane sites was 40GWh in the first four months of 2012. That is down from 48GWh in the same period in 2011 but it is in line with expectations because of the moving of equipment in the run up to the acquisition of Greenpark and refurbishments. Alkane is about to open a 3MW facility at Gedling, Nottinghamshire and another site is planned for South Wales. Alkane expects to complete all major installation work before the peak winter period.
Alkane has a farm-in agreement with Aberdeen Drilling Management who will drill two of Alkane’s licences for coal bed methane. Aberdeen can gain up to 50% of a licence once it has drilled a CBM well. Alkane has also started to prepare a drill site at Nooks Farm, Staffordshire on one of its onshore gas licences. This is on the site of a previously discovered gas reservoir.
At 20.25p a share, Alkane is valued at £20.4m.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMay2012_32.pdf
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