Extension Agreed for PRC Coal Acquisition

26 April 2012

Altona Energy Plc

("Altona" or "the Company")

Extension Agreed for Completion of Acquisition of PRC Coal Exploration Licences

Altona, the AIM quoted energy company, announces that the date for completion of the Share Purchase Agreement (the "SPA") covering the conditional purchase of a 95% indirect beneficial interest in two advanced coal Exploration Licences ("ELs") located in the People's Republic of China ("PRC") ("the Acquisition" or "Project Dragon"), has been extended up to 30 June 2012.

Altona and the vendor mutually agreed the extension for completion of the Acquisition to allow further time to conduct a site visit to the second EL and to complete the necessary due diligence.

Altona's technical, legal and financial due diligence is well progressed and has already included a site visit by the Company and its consultants to the first EL, which confirmed the positive mining potential for the coal resources identified for this EL.

The site visit to the second EL has been delayed to allow for unseasonal late clearance of the last of the winter snow from the existing access road. The second EL site visit by the Company and its consultants is anticipated to take place within the next fortnight.

Meanwhile the Company and its consultants are moving forward positively with the commencement of the preparation for the mining license ("ML") application.

Altona Chairman, Chris Lambert commented, "the due diligence to date has confirmed the exciting development potential of Project Dragon for the near term commencement of production, upon the granting of an ML, in a region of economic development and favourable market demand dynamics. The Company is moving forward positively with the commencement of the ML application process, with the extension providing a conservative timeframe for the Company to complete the essential due diligence process for what will be a significant transformational acquisition for Altona."

**ENDS**

 Mike Bartlett