22nd Oct 2013 09:45
22 October 2013 | AIM/ASX Code: WHE |
WILDHORSE ENERGY LIMITED NOTICE OF AGM |
Wildhorse Energy ('WHE' or 'the Company'), the AIM and ASX listed company focussed on developing underground coal gasification ('UCG') and uranium projects in Central and Eastern Europe, announces that its Annual General Meeting will be held at 11:00am (WST) on Thursday, 21 November 2013 at Level 7, 1008 Hay Street Perth, Western Australia.
A copy of the Notice of AGM has been sent to shareholders and can also be found on the Company's website at www.wildhorse.com.au.
**ENDS**
For further information please visit www.wildhorse.com.au or contact:
Matt Swinney | Wildhorse Energy Limited | Tel: +44 (0)207 292 9110 |
Colin Aaronson/Jen Clarke | Grant Thornton UK LLP | Tel: +44 (0)207 383 5100 |
Elisabeth Cowell/ Susie Geliher | St Brides Media & Finance Ltd | Tel: +44 (0)207 236 1177 |
Further Information on Wildhorse:
Wildhorse Business Model
The WHE business model is focussed upon applying UCG technology to convert coal into syngas and then selling the syngas to power stations as a gas feedstock. The development and expansion of the UCG 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.
Business Strategy
The Company's business strategy is to become a major supplier of gas feedstock to power stations in Central and Eastern Europe. WHE's project development strategy is based primarily upon acquiring strategic UCG sites in key locations in Central and Eastern Europe where gas markets are dominated by gas imports, energy security is a major factor for governments and large scale industrial consumers of gas and gas prices are correspondingly high.
Alongside its UCG assets, the Company also has a significant interest in a highly prospective uranium deposit in Hungary, which has a JORC Inferred resource of 48.3Mt at 0.072% uranium U3O8 for 77Mlbs of U3O8. As announced on 27 June 2012, the government has issued a formal decree in support of the formation of a joint venture ('JV') with state-owned organisations, Mecsek-Öko, and Mecsekérc and Hungarian Electricity Ltd ('MVM') (the owner of Paks Nuclear Power Plant). The JV's initial purpose will be to evaluate the necessary conditions to restart uranium mining in the Mecsek Hills with the ultimate aim of recommencing uranium mining at the Mecsek Hills Uranium Project.
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