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Wildhorse Energy Shares Are Off And Racing, Receives ASX Price Query

Wildhorse Energy (ASX: WHE) hit an intra-day high of $0.077 yesterday, which is a 75% jump from the opening price on the 1st August, with the company receiving an ASX Price Query.

The company said that it is not aware of any information not released which may explain the recent trading, but did point to some recent media reports - including support for UCG by oil tycoon Algy Cluff and its potential to solve Britain's energy crisis.

Wildhorse is focused on underground coal gasification (UCG) and uranium projects in Central and Eastern Europe.

The company is potentially positioned to benefit from proposed amendments to the regulatory and legislative framework to allow for the licensing of UCG have been prepared by the Hungarian Mining Authority, and are pending Parliamentary approval - anticipated for Q3 2013.

The follows completion of a study which concluded that UCG, as a clean coal technology, can provide Hungary with an opportunity to develop its extensive stranded coal reserves and no risks were found that would limit the development of UCG in Hungary.

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