The company also announced that persons affiliated with Future Fuel made the second part of a $2-million strategic investment in Next Fuel and now own 1 million shares of common stock, which exceeds 10% of Next Fuel’s outstanding shares, and a representative of the investor group joined the Board of Directors.

Field testing is scheduled to begin by the end of July 2011. If the field tests are successful, the parties intend to negotiate a definitive long term license agreement.

Shares issued in the investment are subject to contractual lock-up restrictions and regulatory restrictions on re-sales. Future Fuel will have the right to require Next Fuel to file a registration statement with the Securities and Exchange Commission to register its shares for resale within sixty (60) days.

Two days ago, Next Fuel announced the signing of a definitive agreement with PT Enviro Energy to field-test Next Fuel’s CTG technology to determine the commercial viability of utilizing it to produce natural gas at PT Enviro Energy’s coal deposits in Indonesia.

The Next Fuel CTG process re-introduces amendments designed and tested to the wide range of microorganisms that exist in the seams of coal and other carbonaceous deposits that originally formed the methane gas extracted from coalbeds. The company claims that the CTG technology can rejuvenate, resume, and enhance gas production at an attractively low cost.