Cougar looks to change its stripes
Shareholders are set to vote on a name change for Cougar Energy, as the company tries to move beyond its coal gas-heavy past and into conventional assets.
Cougar says it is looking for a revamp of its image to shunt the company in a different direction. Stakeholders will decide on the 19th of September whether Cougar should change its name to Moreton Resources.
The company says the move reflects its intention to focus on conventional coal projects such as the Mackenzie PCI Project in Queensland’s Bowen Basin. Cougar wants to move away from developing underground coal gasification projects and the negative controversy they often provoke. Cougar executives believe the current name is too strongly linked to UCG and may be disadvantageous for attracting and retaining investor support.
Cougar hopes that changing to ‘Moreton Resources Ltd’ will also more closely align the company to its Queensland base; Moreton is both an electorate of Brisbane and a prominent sand island off the state’s south-eastern coast.