It is reported that Wildhorse Energy preliminary feasibility study for the Mecsek Hills underground coal gasification project in Hungary is due for completion in the first quarter of 2012.
In an operational review, the group said it has made considerable progress over the past twelve months, as it remain centred on the rapid development of its UCG and uranium assets in Hungary.
In tandem with this, it is committed to utilising its first mover advantage in the wider Central European region to fulfill its strategy to become a leading fuel supplier in Central Europe.
Mr Mark Hohnen Chairman said “Looking ahead, the coming months will undoubtedly be very busy for us. Amongst other things, we look forward to the completion of the independent engineer's review and our potential expansion into our new target market areas of the Czech Republic, Poland and Germany.
He said that “We also anticipate announcing further JORC inferred resource statements on our coal assets in addition to the completion of our UCG site selections for drilling and seismic programs and as a result finalizing the UCG prefeasibility study in Q1 2012.”
The company is developing UCG and uranium projects in Central Europe. In Hungary it is advancing a number of UCG projects including its flagship, Mecsek Hills. Mecsek Hills is a 418 square kilometres licence in the historically mined Mecsek Coal Formation in Pécs in Southern Hungary which has an exploration target of 1 to 1.25 billion tonnes of coal.
Wildhorse is focused upon applying UCG technology to convert coal into syngas and then selling the syngas to power stations as a gas feedstock. The group portfolio is underpinned by a potentially world class uranium project which the company is advancing with its Hungarian uranium development partners Mecsek Öko and Mecsekérc with the support of the Hungarian government.
The project development strategy is based primarily upon acquiring strategic UCG sites in key locations in Central Europe where gas markets are dominated by Russian gas imports, energy security is a major factor for governments and large scale industrial consumers of gas while gas prices are correspondingly high.
(Sourced from www.proactiveinvestors.com.au)
