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East Coast Minerals Announces Option Agreement to Liquids Project in Wyoming USA
Monday August 31, 2009, 12:38 pm

Original Announcement: Option Acq Over Adv Coal to Liquids Project in Wyoming USA

East Coast Minerals reported that its subsidiary, Energie Future has entered into an Option agreement with Williams to acquire Carbon County UCG Inc (CCUCG). CCUCG owns the Rawlins site which is situated 20km west of Rawlins, Wyoming in the USA. The Company reported that Energie Future will have the right to acquire the benefit of over US$100m 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's partner, Energy Technology Partners; and 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.

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