Carbon Energy Limited (ASX:CNX) signed a memorandum of understanding to acquire Mulpun UCG Project from Antofagasta Minerals S.A. on October 9, 2013. The transaction is dependent upon Carbon Energy securing third party funding for the project and the acceptance of the commercial terms of the acquisition by Antofagasta Minerals and gives Carbon Energy up until February 28, 2014 to secure third party funding and execute a definitive agreement.

Carbon Energy Limited (ASX:CNX) cancelled the acquisition of Mulpun UCG Project from Antofagasta Minerals S.A. on February 28, 2014