Cougar has clarified its April 15 and 22 announcements on the decision to terminate after Hulaan’s solicitors raised concerns about what they had implied.

Cougar was planning to undertake due diligence on Hulaan’s coal reserves in Mongolia, but announced on April 15 that a review of the reserves indicated they would not be commercially viable for Cougar, who terminated the MoU with Hulaan’s consent.

“While Cougar Energy does not agree with Hulaan’s interpretation of the announcements, it can confirm that it did not form any such view,” Cougar said in a statement.

Cougar made no further comment on the viability of the resources.

In April, Cougar closed its Beijing office and Asia general manager Kevin Garner left the company along with other office staff.

The company also cut costs through a reduction in the size of the board, a review of staff levels within the business, a reduction in general administration costs and the conclusion of legacy consultancy arrangements.

Cougar is now focusing on its coal activities in the Bowen Basin.