Investment Update

28 April 2009

AIM: XTR

                          XTRACT ENERGY PLC
                     ("Xtract" or the "Company")

            INVESTMENT UPDATE - Elko Energy and Lysander

Xtract Energy  Plc ("Xtract")  is  pleased to  announce that  it  has
entered  into  a   conditional  agreement   with  Lysander   Minerals
Corporation (TSX-V:  LYM)  ("Lysander") of  Vancouver,  Canada  under
which it  will  acquire  35,000,000 common  shares  of  Lysander  and
warrants entitling Xtract to  subscribe for an additional  17,500,000
common shares  of Lysander  at an  issue price  of C$0.20  per  share
exercisable for a period  of three years  in exchange for  35,000,000
shares in Elko Energy Inc. ("Elko"), representing all of Xtract's 35%
interest in Elko. The market price  of Lysander was C$0.18 per  share
at the close of business on 24 April 2009.

The agreement is subject to further due diligence, the completion  of
a  definitive  agreement  and  to  regulatory,  Board  and   Lysander
shareholder approval.

Elko  (www.elkoenergy.com)  is  a  Canadian  registered  oil  &   gas
exploration company which has interests in exploration and production
licences in the Danish and Dutch North Sea. Its major asset is in the
Danish North Sea; an 80% interest in 26 offshore blocks in a 5,400 sq
km exploration and production licence  close to the prolific  Central
Graben oil field.  Technical analysis carried  out to date  indicates
the potential  for  significant  reserves.  Elko  also  holds  a  60%
operating interest in  gas-bearing licence  blocks P1 and  P2 in  the
Dutch North Sea. Xtract owns approximately 35% of Elko's issued share
capital.

The acquisition  of Xtract's  interests in  Elko will  represent  the
second transaction arranged by  Lysander under their policy,  adopted
following reorganization in 2008,  of expansion into businesses  with
potential for  high returns.  For its  expansion plans,  Lysander  is
focusing on exceptional  situations in  the field of  energy. It  has
already acquired rights over a coal mine in Ukraine and continues  to
advance that project.  As previously announced,  Lysander expects  to
issue 22,000,000  common shares  on  the exercise  of its  option  to
acquire Ukraine Energy Limited. For further information on  Lysander,
please visit their web-site www.lysanderminerals.com.

Upon successful  completion of  both the  above transactions,  Xtract
will own  approximately  43.7% of  the  issued capital  of  Lysander,
rising to approximately  52.2% on  a fully diluted  basis. Under  the
terms of the agreement with Lysander,  Xtract will have the right  to
appoint a director to the board of Lysander. It is expected that Andy
Morrison, CEO of Xtract and a  director of Elko, will join the  board
of Lysander and maintain his existing oversight role with respect  to
the development of Elko.  John  Newton and John Conlon, directors  of
Xtract, are existing directors of Lysander.

In the year ended 31 December  2007, Lysander incurred a loss  before
tax of C$0.4  million and had  net assets of  C$4.3 million and  Elko
incurred a loss  before tax of  C$7.3 million and  had net assets  of
C$19.9 million.   The  unaudited  book  value  of  Elko  in  Xtract's
accounts as at 31 December 2008 was £4.0 million.

Commenting on  the  agreement,  Andy  Morrison  said,  "The  proposed
arrangement with Lysander  will help  crystallise the  value of  Elko
within the portfolio and  provide valuable commercial flexibility  to
the Xtract Group.  From a  financial perspective  it will  strengthen
liquidity by increasing  the proportion  of the  Group's holdings  in
publicly listed entities. We look forward to working with Lysander to
help develop Elko to its undoubted potential".




Enquiries please contact:


Xtract Energy      Andy Morrison, CEO  [phone]

Smith & Williamson David Jones         [phone]
Corporate Finance  Azhic Basirov

Scott Harris       Ian Middleton       [phone]
                   James O'Shaughnessy



About Xtract Energy

Xtract identifies and  invests in  a diversified  portfolio of  early
stage energy  sector  technologies and  businesses  with  significant
growth  potential.  The  Company  aims  to  work  closely  with   the
associated management teams to  achieve critical project  milestones,
to finance later  development stages,  and to  build and  crystallise
value for all shareholders and partners.

For further information on Xtract please visit www.xtractenergy.co.uk

A short description  of the  principal assets  of Xtract  is set  out
below. These assets are either held directly or through wholly  owned
subsidiaries of the Company.

MEO Australia Ltd ("MEO")

MEO (ASX: MEO) aims to become an integrated Australian Gas-to-Liquids
("GTL") company. In 2008, MEO made significant gas discoveries in the
Australian Timor Sea,  in an area  of shallow water  known as  Tassie
Shoal.  Early  commercialisation  of  these  discoveries  is  planned
through construction of  Liquified Natural Gas  ("LNG") and  Methanol
plants and export terminals  on the off-shore  Tassie Shoal. MEO  has
already secured Australian Government environmental approvals for two
large scale (1.8  Mtpa) methanol  plants and a  3 Mtpa  LNG plant  on
Tassie Shoal. Xtract owns approximately  11.6% of MEO's issued  share
capital.

Elko Energy Inc. ("Elko")

Elko is a Canadian registered oil & gas exploration company which has
interests in exploration  and production licences  in the Danish  and
Dutch North Sea. Its major asset is  in the Danish North Sea; an  80%
interest in  26 offshore  blocks in  a 5,400  sq km  exploration  and
production licence close  to the prolific  Central Graben oil  field.
Technical analysis carried  out to date  indicates the potential  for
significant reserves. Elko  also holds  a 60%  operating interest  in
gas-bearing license blocks P1 and P2  in the Dutch North Sea.  Xtract
owns approximately 35.0% of Elko's issued share capital.

Extrem Energy AS ("Extrem Energy")

Extrem Energy is  an exploration  and production  joint venture  with
Merty Energy of Turkey. The JV's aim is to create a new  medium-sized
oil and gas exploration and production business, initially focused on
Turkey where Merty  Energy has particular  experience and  expertise.
Extrem Energy has a portfolio of licence interests including the high
potential prospect at Candarli Bay in south-west Turkey. Xtract  owns
20% of the issued share capital  of Extrem Energy and has the  option
of increasing its shareholding to 34% before 30 June 2009.

Xtract Oil Ltd ("XOL")

Xtract's wholly owned subsidiary, XOL, is focused on the  development
of the Company's oil shale resources in Australia and the  technology
for oil extraction  from oil  shale resources. Xtract  has oil  shale
exploration rights over mining tenements  in the Julia Creek area  of
Queensland. In addition to  evaluating third party technologies,  XOL
has  been  developing  proprietary  technology  for  the   commercial
extraction of liquid hydrocarbon products from oil shale.

Xtract Energy (Oil Shale) Morocco SA ("XOSM")

XOSM is  a  joint  venture with  Alraed  Limited  Investment  Holding
Company WLL, a company controlled by His Highness, Prince Bandar  Bin
Mohd. Bin  Abdulrahman Al-Saud  of Saudi  Arabia. XOSM  has signed  a
Memorandum  of   Understanding   with   the   Office   National   des
Hydrocarbures et  des  Mines  for  the  purposes  of  evaluation  and
possible development of  an oil  shale deposit near  Tarfaya, in  the
south west part of Morocco. Xtract  currently holds 70% of the  joint
venture.

Wasabi Energy Ltd ("Wasabi")

Wasabi (ASX:  WAS)  is  a diversified  investor  in  traditional  and
renewable energy  technologies. Amongst  its listed  assets it  holds
approximately 38%  of Rum  Jungle Uranium  Ltd (ASX:  RUM) which  has
interests in uranium exploration licenses  covering some 4,150 sq  km
of  Australia's  Northern  Territory   and  approximately  12.5%   of
Greenearth Energy Ltd  (ASX:GER) which  aims to  explore and  develop
geothermal resources in Australia and  the wider Pacific Rim.  Xtract
owns approximately 19.4% of the issued share capital of Wasabi.

Zhibek Resources Ltd ("Zhibek Resources")

Zhibek Resources is an oil and gas exploration and production company
which has a 72% interest in the Tash Kumyr and Pishkoran  exploration
licences in  the  Kyrgyz  Republic. Xtract  has  entered  a  farm-out
agreement to  fund  a seismic  and  drilling programme  for  2008-09.
Xtract owns 25.0% of the issued share capital of Zhibek Resources.

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