{"id":47472,"date":"2013-10-13T20:44:56","date_gmt":"2013-10-13T10:44:56","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=47472"},"modified":"2020-09-09T17:17:39","modified_gmt":"2020-09-09T07:17:39","slug":"cougar-energy-changes-name","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2013\/10\/13\/cougar-energy-changes-name\/","title":{"rendered":"Cougar Energy Changes Name"},"content":{"rendered":"

October 18, 2013<\/strong><\/p>\n

Cougar Energy appears to have drawn a line under UCG in Queensland, changing its name to reflect a change of direction following its failed underground coal gasification project at Coolabunia.<\/p>\n

At an extraordinary general meeting last month, shareholders voted to change the name of company to Moreton Resources.<\/p>\n

The change officially took effect on the ASX on Friday.<\/p>\n

“Since the restructuring of the Board in March this year, we have undertaken a number of strategic changes to the business model,” Moreton Resources Chairman Andrew Matheson said in a statement to the ASX.<\/p>\n

In an apparent reference to the UCG project and associated legal actions, Mr Matheson noted that “several of the legacy issues holding the company back have now been resolved”.<\/p>\n

On September 24, Cougar was fined $75,000 after admitting it breached the conditions of its environmental authority at Coolabunia.<\/p>\n

“We believe it is timely to implement this name change in keeping with the significant transformation we have embarked on,” Mr Matheson said.<\/p>\n

He said the change reflected the “repositioning of Moreton Resources” from a single focus company to one with two key businesses: carbon materials and energy.<\/p>\n

The company’s new website<\/a><\/strong>\u00a0notes that it previously focussed solely on UCG but its thermal coal resources were currently being evaluated for commercial development:<\/p>\n

“The decision to undertake this transformation\u00a0of the coal assets followed a detailed strategic review of previous business model. <\/em><\/p>\n

“The review found that the company held two, wholly-owned, non-UCG coal assets in Queensland, and that specific actions could be taken to capitalise on their value. <\/em><\/p>\n

“In addition, Moreton Resources’ pursuit of coal prospects in Asia,\u00a0which have the potential for UCG development, have exposed it to a range of conventional coal investment opportunities which may add significant value to the company.”<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Cougar Energy appears to have drawn a line under UCG in Queensland, changing its name to reflect a change of direction following its failed underground coal gasification project at Coolabunia.<\/p>\n","protected":false},"author":20,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,3],"tags":[],"yoast_head":"\nCougar Energy Changes Name - southburnett.com.au<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2013\/10\/13\/cougar-energy-changes-name\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cougar Energy Changes Name - southburnett.com.au\" \/>\n<meta property=\"og:description\" content=\"Cougar Energy appears to have drawn a line under UCG in Queensland, changing its name to reflect a change of direction following its failed underground coal gasification project at Coolabunia.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/southburnett.com.au\/news2\/2013\/10\/13\/cougar-energy-changes-name\/\" \/>\n<meta property=\"og:site_name\" content=\"southburnett.com.au\" \/>\n<meta property=\"article:published_time\" content=\"2013-10-13T10:44:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-09T07:17:39+00:00\" \/>\n<meta name=\"author\" content=\"Anne Miller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anne Miller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/southburnett.com.au\/news2\/2013\/10\/13\/cougar-energy-changes-name\/\",\"url\":\"https:\/\/southburnett.com.au\/news2\/2013\/10\/13\/cougar-energy-changes-name\/\",\"name\":\"Cougar Energy Changes Name - 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