Cougar Energy is listed on the Australian Stock Exchange under the company code CXY. As at 30 June 2008, the issued capital of the company consisted of:

• 498,904,713 fully paid shares
• 155,163,704 listed options, exercise price 5c, expiry 31 Dec. 2008
• 72,500,000 unlisted options, exercise price 3c, expiry 6 Oct. 2009
• 10,800,000 unlisted options, exercise price (staged)10c, expiry 10 Nov 2010

The Company’s business is the commercialisation of UCG technology in Australia, and internationally in all countries except India, Pakistan and Europe.

Cougar Energy holds a 47.8% interest in Cougar Energy (UK) Ltd, whose business is the commercialisation of UCG technology in India, Pakistan and Europe. Formal agreements exist between the two Cougar companies in relation to the exchange of technical and project information relevant to the technology.

Cougar Energy’s current projects are focussed in Australia, although opportunities in other countries are reviewed from time to time. These projects are located in Queensland and Victoria. In Queensland, the Company has a 70% interest in a Designated Area within EPC882 held by Cockatoo Coal Ltd (the Kingaroy project), and potential interests under farm-in arrangements in a number of other tenements in the Surat Basin held by Cockatoo Coal. Cougar, as 100% owner, also has been granted EPC1118 near Wandoan, also in the Surat Basin, within which a number of coal intersections of interest have been recorded.

In Victoria, Cougar has an MOU with Victoria Coal Resources Ltd (VCR) covering an area of approximately one million acres in the Latrobe Valley within EL 4416 held by a company associated with VCR. The area contains very large deposits of brown coal in a number of geological layers, and it is Cougar’s intention to determine whether significant localised deposits exist which may be suitable for application of the UCG process and, if so, to undertake trials to evaluate process performance.

These projects provide Cougar Energy with significant challenges to see the technology applied in a number of different geological environments.