The Company wishes to bring to the attention of the ASX that it...

The Company wishes to bring to the attention of the ASX that it has two competitors in Australia in
the industry of Underground Coal Gasification (UCG), being Metex Resources Limited (ASX Code
MEE) and Linc Energy Limited (ASX Code LNC), both of whom have market capitalisation values
and share price values in excess of $100 million.

Further, Cougar also notes that Metex has today
released to the ASX an announcement regarding their acquisition of 100% of Carbon Energy from
their 50% joint venture partner, CSIRO, for $2.5 million cash and 100 million shares in Metex.