22nd May 2014 14:02
LONDON (Alliance News) - Altona Energy PLC Thursday said its Arckaringa project in Australia has been granted an extension to its Water Affecting Activity Permit.
The Australian coal-focused energy company said the permit, which defines water management procedures for a proposed drilling programme at the site, was granted by the Department for Environment, Water and Natural Resources and now lasts until May 19, 2015.
The news follows the recent grant of a renewed Program for Environmental Protection and Rehabilitation, which identifies all relevant environmental, social and economic impact events that may result from proposed exploration activities.
The company said the receipt of these two key permits allows Altona to continue to plan its 31-hole drilling programme for the site, the execution of which remains subject to partner finance.
Altona Energy shares were down 6.2% to 1.1023 pence on Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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