The Announcement in whole4 May 2009COUGAR EXPANDS CORPORATE...

The Announcement in whole


4 May 2009
COUGAR EXPANDS CORPORATE FINANCE CAPABILITY
FOR QUEENSLAND UCG POWER PROJECT
Cougar Energy Ltd (ASX Code: CXY) has expanded its in-house financing capability with
the appointment of Brad Glynne as General Manager – Corporate Finance, with the additional
responsibility for Investor Relations.
Brad has formal qualifications in financial services and law. He has over 20 years of wideranging
experience in corporate and investment banking, as well as high net worth portfolio
management.
His financial experience includes 10 years with Credit Suisse and Credit Suisse First Boston
in both Melbourne and Zurich, including serving as Director and Head of Corporate Banking
in Australia, with Citigroup leading its Metals and Mining Industry Group, and as a Director
of UBS Wealth Management. He has accumulated wide experience in both the debt and
equity markets which will be invaluable in structuring and finalising a financial package for
Cougar Energy’s phased 400MW power project in Kingaroy, Queensland.
The power plant will be fuelled by gas produced using the process of Underground Coal
Gasification (UCG), by which coal is converted in situ into a combustible gas that can be used
as a fuel or a chemical feedstock. UCG has the potential to exploit coal resources that are
either inaccessible or uneconomic using conventional coal mining methods.
Brad will be working closely with Singapore based Direct Invest Pte Limited (DI) in the
execution of the staged funding plan outlined in the Cougar Energy / DI Memorandum of
Understanding (MOU) signed in June 2008. Following recent discussions between the parties
in Melbourne, and the preparation of a preliminary project financial analysis, Cougar Energy
and DI have agreed on the size, structure and timing of the debt/equity funding package as
required by the MOU.
Commencing in June, Cougar will undertake a series of road shows to present the funding
package to investors and bank financiers in Australia and in all of the major off-shore
markets.
The creation of Brad’s position within the Company structure is in line with the considerable
recent advancements of the Kingaroy UCG project, including assembly of the technical and
financial information required in achieving funding for the phased project development.
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