22nd Nov 2007 07:02
Xtract Energy plc22 November 2007 22 November 2007 AIM: XTR XTRACT ENERGY PLC ("Xtract" or the "Company") Investment Update Further to the announcement dated 5 October 2007, Xtract is pleased toannounce that Rum Jungle Uranium Ltd (ASX: RUM) yesterday successfully completedits first day of trading on the Australian Stock Exchange. Xtract's net 13.8%interest in Rum Jungle Uranium is held through investee company Wasabi EnergyLtd (Xtract 36.6%). For further information please refer to www.rumjungleuranium.com.au. 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 WasabiWasabi is a diversified investor in traditional and renewable energytechnologies. Some of its most promising investments in addition to Rum Jungleinclude: Geothermal/Waste Heat RecoveryWasabi recently formed a new joint venture with AMP Capital Partners LLC, a U.S.based private equity fund. Pursuant to the transaction a newly incorporatedsubsidiary of Wasabi, Global Geothermal Limited acquired Recurrent EngineeringLLC that is focused on the delivery of highly efficient Geothermal and Wasteheat power stations and technology. Wasabi owns 70% of Global Geothermal Limitedwhich brings together the intellectual property and skills needed to promote thewell-established Kalina cycle technology. Aviva Corporation LtdWasabi owns approximately 18% of Aviva Corporation Ltd (Aviva) a company listedon the Australian Stock Exchange with its head office in Perth, WesternAustralia. Following the deregulation of the Western Australian power industryin March 2006, prospects have improved considerably. Aviva has positioned itselfas an integrated energy company providing long-term certainty for the coalproducers and power generators. In February 2007 Aviva made its firstinternational move, entering a joint venture on the Mmamantswe coal deposit inBotswana. About Xtract Energy PlcXtract 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. 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 AustraliaMEO 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) offshore located in the heart of the gas fields. Elko EnergyElko is an oil & gas exploration company which has an interest in a 5,400km2exploration 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 InterestsXtract'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. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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