making strides in hungary

Wildhorse Energy making strides in Hungary

By John Harrington April 30 2013, 11:04am

Managing director Matt Swinney said, 'The potential for UCG to dramatically transform Europe's energy dynamic is increasingly being recognised by various corporate, governmental and industrial groups and as this sentiment continues to grow it is important to engage with the local community to ensure that this opportunity is well understood and supported.'Managing director Matt Swinney said, "The potential for UCG to dramatically transform Europe's energy dynamic is increasingly being recognised by various corporate, governmental and industrial groups and as this sentiment continues to grow it is important to engage with the local community to ensure that this opportunity is well understood and supported."

Wildhorse Energy (LON:WHE) made solid progress in the first quarter in its quest to become an underground coal gasification (UCG) player in Hungary.

The company revealed that its work with the Hungarian Geological and Geophysical Institute and the University of Miskolc' Faculty of Earth Science and Engineering to develop a legislative UCG framework has been completed.

“Discussions with various Hungarian state bodies [are] progressing well, underpinning our dedication to developing Europe's first UCG project for the benefit of all stakeholders," declared Wildhorse’s managing director, Matt Swinney.

The group has signed a co-operation agreement with the Mecseknádasd village council that outlines a framework for future communication and cooperation regarding the development of a commercial UCG-to-power project in the company's project area.

Swinney described this as “a further step in our implementation of our development plans in Hungary”.

Wildhorse added that its search for a strategic partner is progressing, with the company in talks with several parties to evaluate the potential to WHE's initial commercial demonstration project ('CDP') in Hungary.

http://www.proactiveinvestors.co.uk/companies/news/56364/wildhorse-energy-making-strides-in-hungary-56364.html