Clean Global Energy Limited (ASX:CGV) Commences Acquisition Of Victorian Coal Assets
The area known as ELA5270 is approximately 900 square kilometers and contains numerous exploration and other wells.
Initial indications from existing exploration of ELA5270 suggests that there may be areas within the ELA that may be suitable for Underground Coal Gasification.
ELA5270 adjoins Greenpower Energy's (ASX:GPP) EL4500 and other Greenpower tenements. The addition of ELA5270 to CGV's already existing portfolio will allow greater commercial opportunity for CGV and in relation to the joint venture with Greenpower.
CGV is currently preparing a 1st stage works program for EL4500 and may expand this program to include ELA5270 depending on the timing of approvals for the Exploration License Application.
CGV will continue to explore opportunities to expand its tenement portfolio primarily in Victoria and Queensland and elsewhere in Australia.
Greenpower Energy Limited
Clean Global Energy Limited