LONDON--Wildhorse Energy Ltd. (WHE.AU), an underground coal
gasification company focused on Central and Eastern Europe, Tuesday
said it has signed a non-binding memorandum of understanding with
the Hungarian subsidiary of E.ON SE (EONGY), to examine and
evaluate the feasibility of constructing an underground coal
gasification commercial demonstration plant in Hungary.
MAIN FACTS:
-Plans an underground coal gasification, or UCG, commercial
demonstration plant with a size of 100 megawatt thermal, or MWt,
syngas, 50 megawatt electric, MWe.
-Legislative development path for UCG in Hungary demonstrated to
be relatively simple - currently no requirement for additional
legislation as UCG deemed to be contained within the current
existing coal mining legislation
-Focus on advancing strategic partner selection with discussions
underway with several parties to evaluate the potential to jointly
develop a 50MWe capacity (100MWt LHV fuel input) commercial
demonstration project at WHE's Mecsek Hills UCG site in southern
Hungary
-Pursuant to the MOU a multi-disciplinary joint working team has
been put in place consisting of E.ON Hungaria and WHE personnel
with results of assessment to be completed in the second quarter of
2013.
-EON Hungaria is the Hungarian regional unit of the associated
EON group of companies that comprises one of the largest privately
owned power and gas companies in the world with sales of just under
EUR113 billion in 2011
-Shares closed in London Monday at 6 pence, valuing the company
at 25.69 million pounds.
-Write to Iain Packham at iain.packham@dowjones.com
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