TSX-V TRADING SYMBOL: CEC
VANCOUVER, Aug. 13 /CNW/ - Compliance Energy Corporation (the "Company"
or "Compliance") is pleased to report that based on its project description
submitted to the Environmental Assessment Office ("BCEAO") it has received
direction to proceed under the Environmental Reviewable Projects Regulation.
On August 12, 2009 BCEAO issued a Section 10 Order for the Comox JV's Raven
Underground Coal Project on Vancouver Island, BC. This Order is an
acknowledgement by the British Columbia Government that the Raven Project is
reviewable under the Environmental Reviewable Projects legislation and
requires an environmental assessment certificate prior to obtaining mining
The Project Description outlines the Comox JV's proposed underground coal
mine with an annual clean coal production rate of up to 1.5 million tonnes
over a projected mine life of 20 years. Since an underground mine development
is being proposed, the surface footprint will be relatively small with the
proposed surface structures consisting primarily of a coal preparation plant
and related facilities, electric substation, and maintenance and
administration buildings. Other infrastructure: the inland island highway,
high voltage power lines, a railway, and gas pipeline are close at hand and
the project would include short (2-4 kilometers) interconnections to each of
these as required.
This is an important milestone for the Comox JV as the issuance of the
Section 10 Order triggers the environmental review process leading toward
production. The Project Description has been filed with the BCEAO, Canadian
Environmental Assessment Agency, and the newly formed Natural Resources Canada
Major Projects Management Office. These offices will distribute the Project
Description and will notify the Comox JV which Provincial and Federal
Agencies, First Nations and affected parties will be involved in the detailed
review process. The Comox JV expects to file an Application for an
Environmental Assessment Certificate ("EAC") in the second quarter of 2010 and
expects receipt of the EAC in early 2011 to allow for permitting, and in time
for scheduled commissioning and start-up.
The Project Description can be viewed on the following BCEAO website
Compliance Energy Corporation is a coal exploration and development
company with an interest in over 75,000 acres of coal and mineral rights on
Vancouver Island BC and that owns the Basin Coal Mine near Princeton BC. The
company is currently focused on developing the Raven Coal Project for the
Comox Joint Venture, of which it has a 60% interest. The remaining 40% is
owned by I-Comox Coal Inc. a subsidiary of Itochu Corporation of Japan and by
LG International Investments (Canada) Limited, a subsidiary of LG
International Corp. of Korea. Company shares trade on the TSX Venture Exchange
under the symbol CEC and investor information is available on the Company's
web page at www.complianceenergy.com.
On behalf of the Board of
COMPLIANCE ENERGY CORPORATION
Chief Executive Officer
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Note: This release contains forward-looking statements that involve risks
and uncertainties. These statements may differ materially from actual future
events or results. Readers are referred to the documents, filed by the Company
on SEDAR at www.sedar.com, specifically the most recent reports which identify
important risk factors that could cause actual results to differ from those
contained in the forward-looking statements. The Company undertakes no
obligation to review or confirm analysts' expectations or estimates or to
release publicly any revisions to any forward-looking statements.
For further information:
For further information: Greg Werbowski, Investor Relations or Rod
Shier, CFO at (604) 689-0489