WILDHORSE ENERGY LIMITED 
By 14 January 2014
ASX Release ASX Code: WHE
HUNGARY ADOPTS UCG SPECIFIC REGULATIONS
Wildhorse Energy ('WHE' or 'the Company'), the AIM and ASX listed company focussed on developing underground coal gasification ('UCG') and uranium projects in Central and Eastern Europe, is pleased to announce that the Hungarian Parliament has approved the modification of the Mining Law which now includes UCG specific regulations setting out a legal framework for the development of UCG projects. These regulations have since been put into legal force as of 1 January 2014.
WHE Managing Director Matt Swinney said, "We welcome this news, representing the first legislation of its kind in Central Europe, and are confident that this regulation marks a new chapter of UCG application in Hungary and in the region as we continue to consider various development paths for our projects. This is an important component for a company looking to establish a European UCG operation, capitalising on the highly attractive energy market dynamics inherent in the region. We are a firm proponent of the considerable economic and environmental potential UCG offers, and we are delighted that Hungary, which plays host to significant stranded coal reserves, has taken this progressive stance towards the adoption of this potentially revolutionary technology in Europe."
As previously announced, the Company is currently engaged in on-going, non-binding discussions with a third party, which is consistent with its previously announced partner selection process. In line with this, the Company's ability to advance its UCG projects in Hungary is dependent on it securing a strategic partner.
The WHE team is excited to see the adoption of the Modification of the Hungarian Mining Law includes UCG regulation, where the Company's most advanced UCG asset, the Mecsek Hills UCG Project, is located. In January 2013, a study was undertaken regarding the "Guidelines for Implementing Underground Coal Gasification in Hungary". This study was completed in cooperation between the Hungarian Geological and Geophysical Institute, the University of Miskolc, Golder Associates and WHE.
With the key aspects of the study comprising analysis of UCG technology, in addition to evaluations on the UCG potential in Hungary, environmental considerations, geological aspects of site selection, risk assessment and legislative aspects of UCG and its application in Hungary and the rest of the world, the study provided a
thorough assessment of the commercial and environmental desirability of UCG application. The study
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concluded that UCG, as a clean coal technology, can provide Hungary with an opportunity to develop its extensive stranded coal reserves.
In summary, the Mining Law modification includes:
