Tools

Company Plans to Explore for Coal in Colo.

by KREX News Room
by Associated Press
by Cori Coffin

Story Created: Jan 27, 2013 at 9:32 PM MDT

Story Updated: Jan 27, 2013 at 10:17 PM MDT

CANON CITY, Colo. (AP) - Texas and Oklahoma Coal Co. plans to explore for coal in Las Animas County in southern Colorado.

The Bureau of Land Management said Friday that the company has filed a coal exploration license with the agency for roughly 25 square miles. The BLM says that after a 30-day notice period, it will begin an environmental assessment analyzing the company's proposed exploration drilling plans.

Once the company has more information on the coal resources in the area, it could apply for a lease to recover them, which would require another environmental assessment.

Texas and Oklahoma Coal was formed by Australian coal and investment professionals in 2011 to develop North American coal resources for export.

You have indicated this comment should be removed.

Close

The comment has been submitted for review. Thank you .

Tom King said on Monday, Jan 28 at 12:26 PM

Does this company speculate on finding coal or are they just fishing around to raise capital, with no track record to speak of. From their web site, texascoal.com on 28 January, 2013 To date the Company, TOCC, has raised US$2M with 56.23 million shares on issue from Professional Investors* and Sophisticated Investors**. TOCC intends to list on the Australian Securities Exchange in 2013. $2m is nothing to prepare for something like coal exploration. Who will ultimately pay for this ???

Add a comment

Name:

Comment: 1000 Characters Left

KREX - News, Weather, Sports for Grand Junction | Montrose | Glenwood Springs - Coverage You Can Count On and its affiliated companies are not responsible for the content of comments posted or for anything arising out of use of the above comments or other interaction among the users. We reserve the right to screen, refuse to post, remove or edit user-generated content at any time and for any or no reason in our absolute and sole discretion without prior notice, although we have no duty to do so or to monitor any Public Forum.

Most Popular
This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.
News Channel 5 Weather