It's good to attend successive AGM's and note the development of...

It's good to attend successive AGM's and note the development of the company and the way it presents itself.

Prior to the formal business Len Walker gave a presentation which included a summary of the last years progress and an outline of future plans.

Some points :

KINGAROY

Ignition in Feb 2010 (probably late Feb).
Aiming to utilise "the worlds best UCG technology" in building the first commercial scale electricity generator using UCG.

Hold ups have been due to the slowness of QLG Gov't granting MDL f approval.
Construction of gas processing plant began four days after approval was granted.
Still on schedule for 2013 production.
The only impediment according to Len would be Gov't approvals.
The company is in continual negotiation with the QLD Gov't

WANDOAN:

COUGAR has access to 100 years of coal.
Options of using the gas to produce methane or liquids.

VICTORIA:

'Very significant project for Victoria"

Negotiating an MOU with Ignite Energy for an agreement to have access to
somewhere between one and ten BILLION tons of coal.

COUGAR UK/PAKISTAN (47.8% Cougar Aust)

Initial drilling 2010, little or no financial strain on Cougar Aust.

Len was confident that the political situation was not a great problem in that area.

All in all most of what was presented is already known,but there was an atmosphere of quiet confidence at the meeting.
No hype or hyperbole.

Milestones are being met, and the Company is presenting with more substantial progress each year.

I remain a happy and increasingly optimistic shareholder.


Boz