Wildhorse Energy (ASX: WHE) has secured a coal exploration licence over the 58 square kilometre Suki Gas UCG Project in North Eastern Hungary, allowing the company to expand its Underground Coal Gasification (UCG) project portfolio.
The company is bullish that coal deposits in Central Europe have the potential for UCG. Suki is the fourth licence granted, raising the company’s combined UCG licence acreage to 528.5 square km.
Suki complements its Mecsek Hills Gas (UCG) Project in Southern Hungary, which has a current exploration target of between 1-1.25 billion tonnes of coal at 18.8 to 29.3 GJ/t.
Suki is located in a historical coal mining district which has undergone significant exploration and is close to a multiple power generation plants.
The project’s potential has been underpinned by existing data and 210 historic drill holes will be used in evaluating the project’s resource and further potential.
Wildhorse will continue to evaluate additional sites particularly in Hungary, Czech Republic, Poland and Germany to rapidly expand acreage for future development. The company is aiming to become a leading UCG specialist and provider of fuel in Central Europe