10th Jul 2015 07:33
LONDON (Alliance News) - Altona Energy PLC on Friday said its exploration licences for the Arckaringa coal project in southern Australia have been renewed and said it has signed a formal business relationship with Parsons Brinckerhoff, the US-based engineering and design firm.
Altona said the South Australian government has granted 12-month extension to the drilling licences held by Altona at Arckaringa. The licences renewed were numbers 4511, 4512 and 4513.
Altona also said it has now signed a formal business relationship with Parsons Brinckerhoff, which has now delivered its exploration plan for an underground coal gasification project and a hydrology study for Arckaringa. Altona is now adding its own evaluations to the study ahead of the start of test drilling.
Altona also remains in talks with its joint venture partners Sino-Aus Energy Group Ltd and Wintask Group Ltd, and hopes to reach an agreement soon.
Shares in Altona were untraded early Friday, having last traded at 0.460 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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