EAST COAST MINERALS NL ACQUIRES AN OPTION OVER AN ADVANCED COAL TO LIQUIDS PROJECT IN WYOMING USA ABN 82 000 738 885 Key Points • Energie Future acquires an option over the Rawlins underground coal gasification (UCG) project at Rawlins, Wyoming USA • Rawlins is the site of three successful UCG trials which together with the Rocky Mountain 1 site are the only commercial scale UCG trials outside of the CIS • Energie Future will have the right to acquire the benefit of over US$100 million of research and development that has been invested in Rawlins over the last 30 years by Gulf Oil, Williams and the US Department of Energy • Energie Future will immediately commence work on a 2,700 barrel per day coal to liquids project at the Rawlins site utilising a Small Fixed Bed Fischer Tropsch Process and proprietary catalysts developed by Energie Future’s partner, Energy Technology Partners LLC • East Coast Minerals will not proceed with the proposed 3 cent call on partly paid shares and will instead hold an EGM to approve a placement of securities in order to raise funds East Coast Minerals NL’s (ASX:ECM) subsidiary, Energie Future NL announced today that it has entered into an option agreement (the Option) with Williams to acquire Carbon County UCG Inc (CCUCG). CCUCG owns the Rawlins site which is situated 20 km west of Rawlins, Wyoming in the United States of America. The site has been extensively explored by Raven Ridge Resources Inc (www.ravenridge.com) and this is in addition to the extensive coal characterisation and resource studies conducted under previous exploration campaigns during the 1980’s and 1990’s. Raven Ridge will continue to be responsible for the ongoing coal resource characterisation and reserve development work contemplated at the Rawlins site. Resource estimates developed in the earlier campaigns were performed to standards required in the USA. The proposed work is aimed at reconfirming previous resource estimates and conforming to current JORC standards. Energie Future expects to announce a maiden JORC resource in the December Quarter 2009. Rawlins has been the site of three successful UCG trials, the first two by Gulf Oil and the US Department of Energy and the third by Williams. The second trial was in fact one of only two commercial scale UCG trials outside of the CIS.
ECM Price at posting:
9.9¢ Sentiment: Buy Disclosure: Held
