Cougar Seeks Legal Advice on Eneabba Gas JV
Cougar Energy will be seeking legal advice on its joint venture partner Eneabba Gas as per a statement given to the stock exchange. The two companies had an agreement to develop the Sargon coal tenements in Western Australia.
The agreement for the joint venture was announced last year in June. The underground coal gasification technology to produce gas from coal seams was to be provided by Cougar Energy in return for a 50% interest in one of the tenements.
However last Friday Eneabba Gas announced that it has received a letter alleging that Cougar had repudiated the terms sheet for the deal. Cougar Energy said that it did not accept this allegation and was disappointed in the steps that Eneabba Gas had taken.
Eneabba Gas has said that it was still willing to use underground coal gasification technology in the Sargon tenements after a review of the sites and a proposed activation plan was set it by March 31. This is the second project of Cougar Energy to run into trouble.
The Kingaroy project in Queensland had been suspended last July as traces of carcinogens and other toxins had been found in bores nearby. The company has been struggling to get the project reactivated by the state government. A decision will be made on if the project with re start on January 28.
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Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.
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