Renewal of Exploration Licences

Altona Energy Plc - Renewal of Exploration Licences

PR Newswire

London, February 27

27 February 2018

Altona Energy Plc

(“Altona” or “the Company”)

Renewal of Exploration Licences

Altona (AIM: ANR), a coal exploration company focused on South Australia, is pleased to announce that its joint venture company, Arckaringa Coal Chemical Joint Venture Co Pty Ltd, has been granted the renewal of its three Exploration Licences for its tenements, Westfield (EL5676), Wintinna (EL5677) and Murloocoppie (EL5678). The new licences expire on 6 June 2019. 

Altona has reduced the size of EL5677, removing an area that the Board considers to be least likely to contain economically extractable coal.

All Exploration Licenses issued by the South Australia government have a minimum expenditure target. The minimum expenditure targets are as follows:

EL5676 AUD 960,000

EL5677 AUD 880,000

EL5678 AUD 400,000

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

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For further information, please visit www.altonaenergy.com or contact:

About Altona Energy

Altona is listed on the London Stock Exchange’s AIM market. Its principal focus is on the evaluation and development of the Company’s flagship Arckaringa Project to exploit the significant coal seams contained in three exploration licences in the northern portion of the Permian Arckaringa Basin in South Australia.