cougar energy to monetise queensland coal asse

Cougar Energy to monetise Queensland coal assets.
Source - http://www.proactiveinvestors.com.au/companies/news/32488/cougar-energy-to-monetise-queensland-coal-assets--32488.html
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Cougar Energy (ASX: CXY) plans to sell its Mackenzie and Wandoan coal assets in Queensland to focus on accelerating expansion of its application of underground coal gasification (UCG) technology across suitable coal reserves in Asia.

The company has already received substantial interest from local and international resources and energy companies in purchasing the coal assets.

The divestment of these two coal assets provides Cougar with the opportunity to accelerate the roll out of its Asian Business Strategy.

Asia represents a market with a strong interest in developing low cost energy options for power generation and the production of downstream petro-chemical products.

Cougar is currently targeting China, Mongolia and Indonesia and is continuing negotiations with local partners in each country to gain access to coal leases identified to develop potential UCG projects for the generation of electricity.

In Indonesia, following evaluations over recent months, Cougar and its partner, PT Medco Energi Mining Internasional, have identified three prospective project areas – two in Kalimantan and one in Sumatra.


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