20th Feb 2008 10:10
Altona Resources PLC20 February 2008 Altona Resources Plc / Index: AIM / Epic: ANR / Sector: Exploration & Production 20 February 2008 Altona Resources Plc ("Altona" or "the Company") In Negotiations for Significant Share Placement Altona Resources plc ("Altona"), the Australian based energy company, is innegotiations with a potential new Chinese investor which, if successful, wouldlead to the issue of a significant number of new ordinary shares for cash. Thiswould provide the Company with a substantial part of the funding required tocarry out a bankable feasibility study on its Ackaringa coal-to-liquids andco-power generation project. The negotiations commenced in January and the newshares would be issued at a price no greater than 4.85p per share. Altona willprovide further information in due course. ***ENDS*** For further information visit www.altonaresources.com or please contact: Christopher Lambert Chairman +44 (0) 207 024 8391 Christopher Schrape Managing Director +61 (0) 417 984 434 Hugh Oram Nabarro Wells & Co Limited +44 (0) 207 710 7400 Alastair Stratton Matrix Corporate Capital LLP +44 (0) 207 925 3300 Hugo de Salis St Brides Media & Finance +44 (0) 207 242 4477 Notes to Editors: About Altona Altona Resources Plc is an Australian based energy Company that listed on theAIM market of London Stock Exchange in March 2005. Altona's primary focus is thecompletion of a bankable feasibility study for its wholly owned ArckaringaProject for an integrated 10 million barrel per year Coal to Liquid ('CTL')plant with a 560 MW co-generation power facility. The Company holds, through its wholly owned subsidiary Arckaringa Energy PtyLtd, a 100% interest in three exploration licences covering 2,500 sq. kms in thenorthern portion of the Permian Arckaringa Basin in South Australia. Theseinclude three coal deposits, Westfield (EL3360), Wintinna (EL3361) andMurloocoppie (EL3362). All three lie close to the Adelaide to Darwin railway andthe Stuart Highway. Containing more than 7.5 billion tonnes of coal (based onprevious JORC equivalent standards of the time) these coal deposits areeffectively one of the world's largest undeveloped energy banks, capable ofconversion into clean liquid fuels, low cost power and high value industrialfeedstocks. About Coal-to-Liquids (also see www.altonaresources.com) CTL is a proven technology which converts coal into more environmentally cleanand manageable energy sources including gas and synthetic fuels. The processinvolves two major stages, gasification to produce synthetic gas ("Syngas") richin hydrogen and carbon, and a liquefication stage where the Syngas is reactedover a catalyst to produce high quality, ultraclean synthetic fuels and chemicalfeedstocks. CTL is a prime example of clean coal technology - the associated combined cycleunits produce negligible sulphur oxides, significantly less nitrogen oxides and10 - 20% less CO2 per unit of power generated than a conventional coal firedplant, whilst carbon capture and storage offers the potential to reduce theoverall greenhouse gas emissions from CTL to below the "well to wheel" level offuels derived from crude oil. The technology is best demonstrated in South Africa, where currently 30% of thecountry's gasoline and diesel fuel needs are met through CTL plants. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Altona Energy