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The thing is funding uncertainty is the only thing keeping this low - one sniff of a strategic investor in the Green Hydrogen project, or Thar Block VI go ahead or a green finance grant and this is a nailed on ten bagger IMO

this is a great article, extensive quote from naheed, really steps up the pressure on the government to act

"the need for alternative sources of economically viable gas in ****stan is clearly evident, and the government has sanctioned the conversion of coal-to-gas with this in mind. with the ongoing support of our consortium partners, including our technical partner and clean coal pioneer, cncdc, we expect to be the front-runner in this burgeoning industry,” oracle ****stan chief executive officer, naheed memon, was reported to have said at that time. “it is estimated that through the application of coal gasification, our thar block vi project could produce and supply approximately 1,000m standard cubic feet per day.”

We're all expecting something to happen - Gov has few good choices when it comes to energy costs with IMF bailout conditions imposing a lot of limits - today they are demanding end to fertilizer industry subsidies for gas - Thar coal conversion to gas and chemicals is the obvious solution - they should launch Thar Block VI as a mega project - I just wish Naheed would give us some clue that discussions are moving forward or indeed any regular engagement

She's clearly been holding off from going to the market again - we must hope that there's some other source of funding coming through that makes a placing unnecessary until the SP has recovered somewhat

She said in a recent interview they won't be providing a running commentary of discussions behind the scenes but there needs to be some continuous engagement! We're in a holding pattern right now waiting for news from the new government, we know they're about to release a green hydrogen strategy and industry is pushing hard for a coal to gas strategy with the current gas crisis - we just need to know something is happening

hybrid project seeks igcep inclusion and ntdc data access

oracle energy limited (oel) has reached out to ****stan’s power division, seeking support for the inclusion of its hybrid energy project in the indicative generation capacity expansion plan (igcep) and the issuance of a no objection certificate (noc) for the use of national transmission despatch company (ntdc) data. this move marks a significant step forward for the oel in its endeavor to contribute to ****stan’s energy landscape.

https://technologytimes.pk/2024/03/08/hybrid-energy-project-seeks-igcep-inclusion-ntdc-data-access/

nuclear and thar coal-based plants stand as the most viable options for baseload power, necessitating concerted efforts towards further developing thar coal mines and associated infrastructure such as railways.

this situation calls for increasing dependency and exploiting local coal resources,” said yousuf m farooq, director research at chase securities, adding that thar power plants are the most cost-efficient power producers in the country due to the indigenous thar coal.

“thar coal’s per-unit cost comes around rs5-7/kwh compared to rs15 to 25/kwh of imported coal,” he said.

“****stan is 50 years late in the sector. what is needed to exploit thar’s potential is that the government of ****stan creates some kind of sovereign fund or instruments with the central bank to facilitate investment in thar coal,” he said.

he said that coal mining is a capital-intensive and high-cost industry. global financing is almost extinct now, so public-private partnership is the way to go to get financing locally.

“to unlock thar coal’s full potential, the establishment of a sovereign fund and the promotion of public-private partnerships are proposed, emphasising the urgency of strategic investments to propel ****stan towards energy self-sufficiency and mitigate the adverse impacts of the ongoing energy crisis,”

https://tribune.com.pk/story/2458599/soaring-energy-costs-stall-growth-at-029

****stan's gas crisis: ssgc proposes thar coal solution amid halving reserves by 2026-27

****stan faces an energy crisis with gas reserves dwindling. thar coal emerges as a key to long-term energy security, offering hope amidst challenges.

****stan faces a looming energy crisis as its indigenous gas reserves are projected to decrease by 50% by the fiscal year 2026-27, placing a significant strain on the nation's energy supply. sui southern gas company (ssgc) has highlighted the growing challenges of securing imported regasified liquefied natural gas (rlng) as an alternative, advocating for the utilization of thar coal as a viable domestic resource capable of generating 100,000 mw of electricity for more than two centuries. this strategic shift aims to mitigate the impending energy shortfall and ensure long-term energy security for ****stan.

the looming gas crisis and thar coal solution

with the anticipated halving of ****stan's gas reserves, the reliance on expensive and increasingly scarce imported rlng has pushed ssgc to propose a more sustainable solution. thar coal, with its immense potential for electricity production, emerges as a promising alternative. ssgc's subsidiary, ssgc alternate energy (ae), has been at the forefront, promoting coal to gas (c2g) plants through collaborations with both local and foreign firms, backed by multiple memorandums of understanding (mous).

challenges and financial implications

transitioning to renewable energy sources like thar coal is not devoid of challenges. a significant hurdle is the financial requirement for establishing a coal gasification plant, estimated at approximately $2 billion for producing 100 mmscfd of synthetic natural gas (sng). this substantial investment underscores the need for strategic planning and financial backing to realize the potential of thar coal as a cornerstone of ****stan's energy strategy. ssgc's initiative also explores alternative energy sources such as biogas from cow dung, municipal solid waste, and energy crops, which could collectively contribute to reducing rlng imports and enhancing energy self-sufficiency.

path forward: reducing dependency on imported energy

ssgc's proposal to harness thar coal for synthetic gas production represents a critical step towards reducing ****stan's dependency on imported energy. by tapping into domestic resources like coal and biogas, ****stan can not only address its immediate energy crisis but also lay the groundwork for a more sustainable and self-reliant energy future.

https://bnnbreaking.com/world/****stan/****stans-gas-crisis-ssgc-proposes-thar-coal-solution-amid-halving-reserves-by-2026-27

naheed memon, pioneer green hydrogen production project oracle power said the firm had tapped into the opportunity to explore hydrogen and related molecules.

she added that the application of all those molecules was globally staggering and was growing at rising trend. she added that the hydrogen production opportunity was large and viable only if the project was developed on a large scale.

https://www.app.com.pk/national/****stan-must-not-miss-green-hydrogen-revolution-in-just-energy-transition-experts/

"The first phase of Thar coalfield was about exploration and exploitation of coal from two mines. We are now launching the second phase to increase the production...it is now time to think about rapidly scaling up production of indigenous energy resources"

Big news!!

everyone needs to read this!

sindh employs indigenous resources for power generation

"****stan is currently generating 2,640mw of electricity from indigenous thar coal, which will be enhanced considerably"

https://www.inp.net.pk/article-detail/inp-wealthpk/sindh-employs-indigenous-resources-for-power-generation

Not to mention 20% of a $7 billion gold project!

Naheed has talked about some of the largest companies in the world buying a stake at a much higher SP when they come onboard the green hydrogen project...

LNG demand is forecast to rise 50% it will become ever more expensive

Here are some details:

"According to the study of Sui Southern Gas Company, an investment of 2 billion dollars will be required to produce 100 mmcfd of gas from Thar coal, gas can be obtained from Thar coal at a price of 8 to 10 dollars per mmbtu and A total of 1200 mmcfd of gas can be obtained from Thar coal."

https://timelinenews.com.pk/shortage-of-gas-proposal-to-produce-synthetic-gas-from-thar-coal/

Articles today reporting on Sui trying to address the gas crisis - one element is development of a coal to gas policy, we signed an MoU with them two years ago for this! Game on for Thar coal - the government just needs to get on with it now

https://tribune.com.pk/story/2456375/ssgc-eyes-substitution-plan-amid-depleting-reserves

Hopefully this will usher in a long period of stability and ling term policy making, especially since everyone already knows who's won! The Chinese said they would wait until after the election before signing long term contracts, I expect a lot to happen quickly in the coming weeks - KE certainly have a plan with their new leadership - hope for news on Thar Block VI power plant and coal to gas policy as well as incentives for renewables.

seen a lot of battered down shares doing 50% in a day on nothing lately as traders look for the next rerate and you can't get much more undervalued and out of favour than oracle. hopefully today's that day i know it's on a lot of traders radars. with elections in ****stan this week we could see some major developments very soon. no doubt the green hydrogen project is going to happen with the sheikh owning 70%, the market should start to price that in now

Traders piling in after the dip this morning - something's definitely up and this could go on a real run if it breaks resistance - maybe shorts closing but something's got the market moving today

Saw the Power Metal fund raise at a sight premium this morning some from Saudi investors - I just don't understand why we can't get a high value individual from the Middle East to invest at this crazy price - the company is valued at virtually nothing now and we know there's value or we wouldn't be invested - Naheed keeps taking about this being the low and that big investors will come onboard but e need to see some action - we know she's working hard but the market just sees nothing happening

till today ****stan remains to be a gas-fuelled country despite huge reserves of coal at thar (175 billion tons). due to imported fuel the circular debt has crossed the rs 7 trillion mark (gas + power). using the abundant deposits of this ‘black gold’ the country can switch over to a ‘coal-based system’ by using 21st century ‘clean technologies’. gasification is the way forward for an energy-starved nation.

****stan is now ready to move from coal to gas by use of its own resource with application of proven above ground ‘gasification’ technologies. samples from thar were sent to south africa where they have successfully ‘gasified’, paving the way for widespread use of this ‘black gold ‘.

https://www.brecorder.com/news/40286744

BTW listen to the Q&A she clearly says the market has re-rated the company down since Thar days and it is all upside from here now - make of that what you will