Bandanna Energy Ltd. (BND.AU) on Wednesday said it has terminated a formal strategic review process managed by UBS AG, but will continue to talk informally to third parties interested in its assets.

The coal explorer said last month that a long-running sales process was now focused on bringing in partners to its Queensland coal projects.

"Interest by a number of third parties, particularly in joint venture participation in key Bowen Basin projects, will continue via discussions outside of that formal, competitive, process," the company said in a statement.

-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; Ross.Kelly@dowjones.com

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