The company has signed agreements to employ Mr Johan Brand as UCG project director, and Mr Peter van Vuuren as UCG technology manager.

Related to the agreement to employ the key executives, WildHorse has entered into an agreement to acquire important UCG technology IP from Africary. The acquisition of this IP gives WildHorse direct ownership and access to process models and technology required to manufacture and operate a UCG syngas facility. The IP consists of UCG related drawings, designs, models, methods, standards and specifications.

It is expected that the acquisition of this IP will significantly reduce WildHorse’s design, planning and feasibility requirements for developing the Mecsek Hill Gas (UCG) Project and fast-track its development schedule.

The acquisition of the UCG technology is subject to certain conditions, including: completion of the Schemes of Arrangement for WildHorse to acquire Peak Coal, WildHorse being satisfied with its technical due diligence on the UCG IP to be acquired from Africary; and WildHorse Board approval of the acquisition.

In consideration for the sale of this IP, WildHorse has agreed (subject to conditions being satisfied) to pay a cash amount of AUD553,000 and to issue upon settlement AUD500,000 worth of WildHorse shares. WildHorse has also agreed to provide a Non Exclusive License Agreement for the use of this IP in

respect to specified projects in Southern Africa to an entity associated with the major shareholder of Africary, Mr Eliphus Monkoe.

WildHorse has also entered into Strategic Alliance Agreements with CDE and Aqua Alpha. CDE is a key supplier of process engineering services to companies such as Sasol and Eskom (South Africa’s electricity supplier) and Aqua Alpha is a directional drilling company.

These alliances are expected to benefit WildHorse through the suppliers’ gasification and directional drilling experience and will also provide a dedicated resource that can be called upon as required by WildHorse and provides access to industry specialists.

Under the terms of these agreements WildHorse can draw upon the specialist skills and experience of these suppliers which has been developed over many years in the coal mining and gasification industries in South Africa.