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It has engaged Emerald Resources of Hong Kong to manage the international sale process for its Mackenzie asset in the Bowen Basin and the Wandoan asset in the Surat Basin.
Cougar told the market this morning that there had already been “significant interest” from international players keen to snap up the acreage.
It is aiming to find a buyer for the assets to give it the financial flexibility to pursue its UCG plan in Asia, after being spurned by Australian regulators in the past, notably after the closure of the Kingaroy UCG plant.
Cougar is still planning to fight the Kingaroy case through the courts.
The Mackenzie asset in the Bowen Basin suits underground longwall production, according to Cougar, and has a target resource estimate of 120-170 million tonnes.
Meanwhile the Wandoan asset has a JORC-compliant resource of 360Mt within the Walloon coal measures.
