30th Oct 2007 12:29
Xtract Energy plc30 October 2007 30 October 2007 AIM: XTR XTRACT ENERGY PLC ("Xtract" or the "Company") Increased holding in Wasabi Energy Limited Xtract announces that it has further increased its holding in Wasabi to281,511,422 ordinary shares (representing approximately 36.6% of Wasabi's issuedcapital) as a result of the exercise of options over 25 million Wasabi shares atA$0.03 costing A$750,000 in total. Wasabi is an Australian listed company that is involved in both traditional andclean energy technologies and businesses. It is a diversified investor withinterests in geothermal waste/heat, uranium exploration and biodiesel. Wasabi's audited financial statements for the year ended 30 June 2007 showed netassets of approximately A$2.5 million and a loss before tax for the year ofapproximately A$4.3 million. Enquiries please contact: Xtract Energy plc Andy Morrison, CEO +44 (0) 20 7079 1798 Smith & Williamson CorporateFinance Limited David Jones +44 (0) 20 7131 4000 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 holds 51.5% of issued share capital. A short description of the principal assets of Xtract (other than Wasabi) is setout below. These assets are either held directly or through wholly ownedsubsidiaries of the Company. 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. 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 ShaleXtract 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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