15th Jan 2008 07:00
Xtract Energy plc15 January 2008 15 January 2008 AIM: XTR XTRACT ENERGY PLC ("Xtract" or the "Company") Mark Nichols Appointed Non Executive Director The Board of Xtract is pleased to announce the appointment of Mark Nichols as anindependent Non- Executive Director of the Company. Mark has been appointedeffective as of 15 January 2008 and he will become a member of the Audit andRemuneration committees. Mark James Nichols (aged 50) is a qualified accountant who has over 20 years'experience in the energy and related services sectors, with the major French oilcompany Total S.A. and with BOC Group Plc. He is currently employed as Directorof Strategy and Organisational Development for Laing O'Rourke, theprivately-owned construction firm. Mark will take responsibility in particular for advising and supporting AndyMorrison and the Board with respect to investment decisions and governancematters. Andy Morrison commented: "I have known Mark for a number of years and I amdelighted to welcome him to the Board of Xtract Energy Plc. His combination ofhigh-level management skills and business development acumen will be a greatasset to us as we move into the next stages of our company development". The following are Mark's current directorships and those held within the lastfive years: Current directorships Past directorshipsXoteric plc None Mark currently holds 170,000 ordinary shares in the Company and will today receive options exercisable as follows: 250,000 options exercisable at a price of 8p for three years from today;250,000 options exercisable at a price of 10p for three years from 15 January2009; and 250,000 options exercisable at a price of 12p per share from 15January 2010. There are no other details to be disclosed pursuant to Rule 17 or to Scheduletwo paragraph (g) of the AIM Rules for Companies. Enquiries please contact: Xtract Energy plc Andy Morrison, CEO +44 (0) 20 7079 1798 Smith & Williamson Corporate David Jones +44 (0) 20 7131 4000Finance Limited Azhic Basirov Scott Harris Stephen Scott +44 (0) 20 7653 0030 Annabel Michie For further Information on Xtract please visit www.xtractenergy.co.uk About Xtract Energy Plc Xtract identifies and invests in a diversified portfolio of early stage energysector technologies and businesses with very significant growth potential. Weaim to work closely with the associated management teams to achieve criticalproject milestones, to finance later development stages and to build andcrystallise value for all shareholders and partners. Xtract is supported by its cornerstone investor, Cambrian Mining Plc (AIM:CBM) adiversified resource investment house which, together with its wholly ownedsubsidiary Cambrian Investment Holdings Ltd, holds approximately 50.34% of theissued share capital of the Company. A short description of the principal assets of Xtract is set out below. Theseassets are either held directly or through wholly owned subsidiaries of theCompany. MEO Australia MEO is focused on developing gas-to-liquids ("GTL") projects in the Timor SeaAustralia, in an area of shallow water known as Tassie Shoal. It has securedCommonwealth Government environmental approvals for two large scale (1.8 Mtpa)methanol plants (50 per cent. interest) and a 3 Mtpa LNG plant (100 per cent.interest) which are adjacent to the Evans Shoal gas field. Elko Energy Elko is an oil & gas exploration company which has an interest in a 5,370km2exploration and production licence in the Danish North Sea and an investment inDragon Energy Inc, a private Canadian company, with a development project inGansu Province, China. Wasabi Energy Wasabi is a diversified investor in renewable energy and low greenhouse emissiontechnologies, with interests in geothermal waste/heat, uranium exploration inAustralia's Northern Territory and biodiesel investments in Victoria. Central Asian Interests Xtract's Central Asian interests include a production sharing agreement withKyrgyzneftegaz to instigate a water injection project on the Beshkent- Togap oilfield. Xtract also holds interests in several exploration licences in the TashKumyr area and in the Toktogul exploration licence. Oil Shale Xtract has oil shale and related petroleum product exploration rights overmining tenements in the Julia Creek area of Queensland and has recently beengranted an exploration permit which gives rights to explore for oil shale in anarea in the South of New Zealand. It is investigating the commercial productionof hydrocarbons (crude oil) from oil shale. Xtract is also available for trading on the open market segment of the FrankfurtStock Exchange (ticker R9X.FSE). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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