19th Nov 2007 16:42
Xtract Energy plc19 November 2007 Xtract Energy Plc ("the Company") Exercise of Warrants 19 November 2007 Xtract Energy plc ("the Company") announces that it has issued and allotted15,000,000 Ordinary Shares following receipt of notices of exercise of warrants.The warrants were exercised at 1p per share. 9,000,000 of those warrants were held by Drawone Superannuation Fund of whichdirector John Newton is a trustee and beneficiary. Following the issue ofshares, Drawone Superannuation Fund will hold 18,000,000 ordinary shares in theCompany representing approximately 2.50% of the issued share capital. Application will be made for the new Ordinary Shares to be admitted to tradingon AIM. The new Ordinary Shares will rank pari passu with the existing OrdinaryShares in the Company and trading of these shares on AIM is expected to commenceon 23 November 2007. The total number of Ordinary Shares in issue following these issues is720,576,476. Enquiries please contact: Xtract Energy plc Andy Morrison, CEO +44 (0) 20 7079 1798 Smith & Williamson Corporate David Jones Finance Limited Azhic Basirov +44 (0) 20 7131 4000 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 approximately 50.41% of issuedshare capital. 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 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. Wasabi Energy Wasabi 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 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 inan area in the South of New Zealand. It is investigating the commercialproduction of 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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