10th Apr 2008 16:44
Xtract Energy plc10 April 2008 10 April 2008 AIM: XTR Xtract Energy Plc ("Xtract") On market share purchases in MEO Australia Xtract Energy plc, through the Company's wholly owned subsidiary XtractInternational Ltd ("Xtract International"), has recently acquired an additional2,080,017 shares in MEO Australia Limited ("MEO") through on market purchasesfor a total cash consideration of A$537,729. Following these purchases Xtract (through Xtract International) holds 62.8million shares in MEO, representing approximately 16.2% of MEO's issued sharecapital. Enquiries please contact: Xtract Energy plc Andy Morrison, CEO +44 (0) 20 7079 1798 Smith & Williamson Corporate David Jones +44 (0) 20 7131 4000Finance Ltd 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 Investments Holdings Limited holds approximately 50.12% ofthe issued 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 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) which are adjacent to the Evans Shoal gas field. MEO made a lossbefore tax of approximately A$3.2 million for the year ended 30 June 2007and its net asset value as at 31 December 2007 was approximately A$155.5million. Elko EnergyElko 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 EnergyWasabi 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 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 Shale Xtract has oil shale and related petroleum product exploration rights overmining tenements in the Julia Creek area of Queensland and was granted anexploration permit which gives rights to explore for oil shale in an area in theSouth of New Zealand. It is investigating the commercial production ofhydrocarbons (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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