Drilling Approvals Update & Potential Pyrolysis JV

Altona Energy plc

("Altona" or "the Company")

Update on Australian Drilling Approvals and Potential Pyrolysis Joint Venture

Australian Drilling Approvals

Further to the Company's announcement on 18 May 2018, Altona is pleased to provide a further update on the preparations for the Initial Drill Programme at the Westfield Tenement.

1) The Statutory Notices, advising of the Initial Drill Programme, have been issued to the landowner, Native Title holder and Petroleum Exploration Licence holder;

2) The Company's Programme for Environmental Protection and Rehabilitation ("PEPR") is under active consideration by the South Australian Department for Energy and Mining;

3) A request has been made to Antakiringa Matu-Yankunytjatjara Aboriginal Corporation ("AMYAC"), the Registered Native Title Body to undertake a survey of the area of the Company's planned drill programme to ensure that no damage, disturbance or interference will occur to any Aboriginal site, object or remains. The AMYAC representative has advised the Company that the clearance should occur in early August 2018; and

4) The necessary contractors, including the drilling company, have been engaged in readiness for the above approvals.

Potential Pyrolysis Joint Venture

Further to the announcement of 5 June 2018, the Company advises that several further meetings have taken place in Spain (the intended site of the pyrolysis recycling project) with the local municipal government who will supply the land and feedstock for the project, technical and scientific staff and potential suppliers of equipment. In addition, meetings have also been held with GCAT Energy Group Inc., the owners of the licence for the patented pyrolysis technology, to discuss potential joint venture arrangements.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

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