6th Sep 2013 08:49
LONDON (Alliance News) - Altona Energy PLC Friday said that the contract award for the drilling site of an open-cut coal mine, known as the Arckaringa project in South Australia, has not yet been complete, and the successful bidder not yet announced.
The company which is engaged in the exploration and evaluation of coal, said that CNOOC New Energy International Australia, the sole operator of the coals-to-liquid Arckaringa joint venture, has received bid documents from three of the five pre-qualified companies, including Altona. However the operator is still in the process of evaluating the bids and selecting the successful bidder.
Altona Energy said that it is still awaiting the outcome of CNOOC NEIA's internal selection process and will update the market on the eventual contract award of the joint venture in due course, as well as the expected drilling programme commence date.
Altona Energy shares were up 0.01 pence or 1.2% during early trading Friday, at 1.24 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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