News: Wildhorse Energy still in talks over UCGassets as deadline expires

Wildhorse Energy (ASX:WHE, LON:WHE) is still in discussions with Linc Energy over the sale of its Hungarian underground coal gas (UCG) assets.

The two companies signed a heads of agreement and associated funding agreement on 21 February and gave themselves five months to thrash out the finer details; that five month period has not proved long enough, and the agreement has not been formally extended, though the two parties are still in talks over the sale.

Wildhorse said it continues to be conscious of costs related to its UCG assets and is reducing all expenditure on them pending the possible sale of the assets.