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October 28, 2011
Cougar Energy confirmed at today's Annual General Meeting that it will press ahead with its two-pronged strategy of expanding into Asia while also seeking recovery for the shut-down of its Kingaroy power plant project in Southeast Queensland. Since initiating its business in Asia, Cougar Energy has received an increasing number of enquiries from companies in the region interested in accessing the company's unique knowledge, operational skills and εUCG™ technology access.
Cougar Energy is setting up an Asian corporate structure for developing its UCG projects in Asia and is well under way with negotiating access to suitable coal deposits in China, Mongolia and Indonesia. Ergo Exergy continues to work closely with Cougar Energy in assessing those coal deposits under consideration. While power generation remains the company's immediate focus for development, there has also been a strong interest from Asia in using the syngas for production of other value added end products.