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Last edited 6 months ago

19 July 2019:  Another new contract for PEA:  Pacific Energy Secures New 12.9MW Power Station Contract

This time their (Pacific Energy's) wholly owned KPS subsidiary has secured a new contract which involves buying an existing power station off the owners and mine operators - of the Jaguar Copper/Zinc Mine, Round Oak Minerals, and assuming full operational responsibility - to supply Jaguar with electricity.  Under the contract, PEA have also agreed to (within five months) complete a range of optimisation and enhancement work to improve fuel efficiency to an agreed target range, optimise control systems and reach agreed KPI’s for station reliability.  The contract is expected to commence following settlement in August 2019 and will run for an initial term of four years, with Round Oak having an option to extend for a further term.

Pacific Energy’s Managing Director, James Cullen commented, “We are grateful for the confidence that Round Oak has placed in KPS to take over full responsibility for power supply to the Jaguar site. The key driver for Round Oak awarding the contract to KPS was to realise operating efficiencies and the KPS team looks forward to showcasing its knowhow in gas and diesel fuelled technology to deliver on this”.

 

Disclosure:  I hold PEA shares.

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