Be interesting to see how this plays out. Since the placement a...

Be interesting to see how this plays out. Since the placement a fair bit of volume has gone through and you would think most of the shares that were going to be cashed in would have been by now. Obvious resistance at 7.5c and 8.2c.

On the fundamental side we have had a couple new appointments in the last week wtih a QLD UCG Project Manager as well as a Corporate Finance as of today.

The announcement today had some enticing teasers about funding with the follwing:

"Following recent discussions between the parties in Melbourne, and the prepartation of a preliminary project financial analysis, Cougar Energy and DI HAVE AGREED ON the size, structure and timing of the debt/equity funding package as required by the MOU."

Also looks like they will be hitting the road in June to rally up some support to raise further debt / equity.

To me it looks as though Cougar is finally getting some good momentum not only in its projects, but also in the way it is updating shareholders. I would expect some news leading into June on Wandoan, further information on Victoria JV, and of course progress and some details of the prelim financial analysis for Kingaroy. Its nice to know we now have someone with the specific role of both corporate finance and investor relations.

Chart attached (first ever attempt... fingers crossed!)