RNS, Drilling results look positive31 Oct 2013 10:21
As previously announced, operational work has focussed on strengthening the Company's geological understanding of the Váralja target at the Mecsek Hills UCG Project. This target has a current Inferred JORC resource of 185Mt and is targeted to be the location for the commercial demonstration UCG to Combined Cycle Gas Turbine facility ('CDP') of approximately 50MWe Gross (100MWt LHV fuel input). In line with this strategy, 2D seismic was completed and a bore hole drilled in Q3 2013. The results are being analysed and the initial results look positive. These activities will provide us with a stronger understanding of the area before drilling commences to upgrade the current Inferred Resource to Indicated status.