Pinnacle VRB applies for coal exploration permit12:46, Thursday,...

Pinnacle VRB applies for coal exploration permit
12:46, Thursday, 11 January 2007

Sydney - Thursday - Jan 11: (RWE Australian Business News) -
Pinnacle VRB Ltd (ASX code: PCE) says it is continuing its aggressive
program of accessing coal deposits in Australia suitable for application
of the Underground Coal Gasification (UCG) technology.
The UCG process enables deep coal deposits to be converted into
a syngas suitable for use as a fuel in power generation or the
manufacture of a range of petroleum products.
The company has applied for an Exploration Permit for Coal
(EPCA1118) encompassing 27 sub-blocks located about 25 kilometres south
of Wandoan in southeast Queensland.
EPCA1118 covers an area of 65 sq km, and is located within 20km
of EPC1041, which is subject to a farm-in agreement between wholly-owned
subsidiary companies of Pinnacle (Cougar Energy Pty Ltd) and Metallica
Minerals Ltd (ASX code: MLM) (SE Qld Coal Pty Ltd).
Under that agreement, SE Qld Coal has a right to participate at
a contributing 20 per cent level in any potential UCG project within
EPCA1118 proposed by Cougar Energy.