16th Jun 2008 07:00
Altona Resources Plc / Index: AIM / Epic: ANR / Sector: Exploration & Production
16th June 2008
Altona Resources Plc ('Altona' or 'the Company')
Appointment of Jacobs Australia and Enthalpy Pty Ltd to
Altona's Integrated Owners Team
Altona Resources Plc, the AIM listed Australian based energy company, has established an experienced management team to oversee the final stage of the Bankable Feasibility Study ('BFS') for the Company's Arckaringa Coal to Liquid ('CTL') and Power Project in South Australia (the "Arckaringa Project"). Leading engineering consultants, Jacobs Australia Pty Ltd ('Jacobs Australia') and project management firm, Enthalpy Pty Ltd ('Enthalpy'), will join Altona's current management to form an Integrated Owners Team ('Owners Team') with immediate effect.
The new Owners Team brings together a wealth of experience in delivering feasibility studies and controlling complex world scale resources projects. Jacobs Australia has a strong background in project management and controls, and also benefits from the extensive reach-back into the greater Jacobs Engineering Organisation of over 55,000 personnel worldwide. Australian based project management company Enthalpy, specialises in conducting feasibility studies for major resource companies based on a series of tested, disciplined BFS control procedures.
The Owners Team is focussed on delivering the BFS over two stages:
Stage One - pre-BFS - selection of the Study Engineer that will carry out design and environmental assessments for the Arckaringa Project, the formalisation of the corresponding contractual services arrangements and the BFS Study Plan.
Stage Two - delivery of the BFS - working in concert with the Study Engineer, within an agreed cost and timeframe to enable the Arckaringa Project to achieve government approval and financial close.
Stage One is currently underway with the appraisal of the Expressions of Interest received from world class engineering companies for the role of Study Engineer. The selection and appointment process is anticipated to be completed to allow a smooth transition into Stage Two in the fourth quarter 2008 with the study expected to take a further 21 - 24 months.
Altona Managing Director Chris Schrape said, "The combination of Jacobs Australia and Enthalpy, working with our existing highly experienced team, provides us with a ready-made core of feasibility study experience, a proven and detailed study procedure and controls, and top level specialists supported by a global network of resources. Together with the Study Engineer, we will form an extremely strong team to take the Arckaringa Project through the BFS phase. Both Jacobs Australia and Enthalpy have welcomed the opportunity to contribute to Altona's development of this significant Australian energy project."
* * ENDS * *
For further information visit www.altonaresources.com or please contact:
|
Christopher Lambert |
Chairman |
Tel: +44 (0) 207 024 8391
|
|
Christopher Schrape |
Managing Director |
Tel: +61 (0) 417 984 434
|
|
Hugh Oram |
Nabarro Wells & Co. Ltd |
Tel: +44 (0) 207 634 4705 |
|
Alastair Stratton |
Matrix Corporate Capital LLP |
Tel: +44 (0) 207 925 3300 |
|
Victoria Thomas |
St Brides Media & Finance Ltd |
Tel: +44 (0) 207 236 1177 |
Notes to Editors
About Altona
Altona Resources Plc is an Australian based energy Company that was admitted to trading on AIM in March 2005. Altona's primary focus is the completion of a bankable feasibility study for its wholly owned Arckaringa Project for an integrated 10 million barrel per year Coal to Liquid ('CTL') plant with a 560 MW co-generation power facility.
The Company holds, through its wholly owned subsidiary Arckaringa Energy Pty Ltd, a 100% interest in three exploration licences covering 2,500 sq. kms in the northern portion of the Permian Arckaringa Basin in South Australia. These include three coal deposits, Westfield (EL3360), Wintinna (EL3361) and Murloocoppie (EL3362). All three lie close to the Adelaide to Darwin railway and the Stuart Highway. Containing more than 7.5 billion tonnes of coal (based on previous JORC standards) these coal deposits are effectively one of the world's largest undeveloped energy banks, capable of conversion into clean liquid fuels, low cost power and high value industrial feedstocks.
About Coal-to-Liquids (also see www.altonaresources.com)
CTL is a proven technology which converts coal into more environmentally clean and manageable energy sources including gas and synthetic fuels. The process involves two major stages, gasification to produce synthetic gas ("Syngas") rich in hydrogen and carbon, and a liquefication stage where the Syngas is reacted over a catalyst to produce high quality, ultraclean synthetic fuels and chemical feedstocks.
CTL is a prime example of clean coal technology - the associated combined cycle units produce negligible sulphur oxides, significantly less nitrogen oxides and 10 - 20% less CO2 per unit of power generated than a conventional coal fired plant, whilst carbon capture and storage offers the potential to reduce the overall greenhouse gas emissions from CTL to below the "well to wheel" level of fuels derived from crude oil.
The technology is best demonstrated in South Africa, where currently 30% of the country's gasoline and diesel fuel needs are met through CTL plants
Jacobs Australia
Jacobs employs over 270 people across Australia and has been established in the country since 1997, with staff in all mainland capital cities except Darwin. The company provides a wide range of advanced technology and project management services to the Department of Defence and engineering consultancy services to the Australian mining and resource development industries, using its Australian workforce and the support of the global Jacobs Organisation, one of the world's leading engineering companies. Forfurtherinformation visit www.jacobs.com.
Enthalpy Pty. Ltd
Enthalpy commenced operations in Australia in 1988. Today the company employs 140 senior personnel in Australia and overseas, typically engaged as project controls, contract and management teams on large scale projects for major resource, energy and infrastructure companies. Projects under management total A$5 billion and under feasibility studies, A$11 billion. For further information visit www.enthalpy.com.au
Related Shares:
Altona Energy