30th Jun 2008 11:00
Altona Resources Plc / Index: AIM / Epic: ANR / Sector: Exploration & Production
30th June 2008
Altona Resources Plc ('Altona' or 'the Company')
Intention to List on Australian Securities Exchange and
Tranche 3 Tongjiang Placing
Altona Resources Plc, the AIM listed Australian based energy company, announces its intention to list on the Australian Securities Exchange ('ASX') in Q4 2008, subject to market conditions. Leading Australian stockbroker and financial advisory firm Bell Potter Securities Limited ('Bell Potter') will advise Altona on the proposed listing on the ASX.
The Company has agreed with major investor Tongjiang International Energy Co. Ltd ('Tongjiang') that completion of Tranche 3 of the share subscription agreement which was due to be completed by June 30th will be deferred, and may constitute part of the proposed ASX listing. The Company will provide further details in respect of the deferment of the completion of Tranche 3 in due course.
Altona Chairman Chris Lambert said, "Given the geographic location of the Arckaringa Coal to Liquids and Power Project in South Australia, it has been our intention for some time to list on the ASX. With the Company now proceeding to the final stage of the Bankable Feasibility study for Arckaringa and favourable market dynamics for the energy sector, we believe the time is now right to move to a proposed dual listing. We believe an ASX listing will facilitate expanded investor awareness and understanding of the exciting potential of Arckaringa, in what is the Project's home territory."
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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) 203 206 7204 |
|
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
Related Shares:
Altona Energy