Completion of Investment

Xtract Energy plc
05 December 2006


5 December 2006                                                AIM: XTR

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

      Completion of further investment in Cambrian Oil & Gas Plc ('COIL')

Further to the announcement made on 16 November 2006, Xtract is pleased to
announce that it has now completed the purchase of 53,333,333 ordinary shares in
COIL from Cambrian Mining Plc ('Cambrian').

Having completed this purchase, the Company now holds 202,964,102 COIL ordinary
shares representing approximately 65.47per cent. of the issued share capital of
COIL.

Cambrian has received 29,090,909 new Xtract ordinary shares in consideration for
the sale of the COIL shares to the Company and, together with its wholly owned
subsidiary Cambrian Investment Holdings Limited, now holds 292,942,500 Xtract
ordinary shares. This represents approximately 52.6 per cent. of the Company's
enlarged issued share capital. Application has been made for the new Xtract
ordinary shares to be admitted to trading on AIM and this is expected to become
effective on 8 December 2006.

Enquiries:

Xtract
John Newton                          020 7409 0890
Director

Smith & Williamson
Azhic Basirov                        020 7131 4000
David Jones                          020 7131 4000


About Xtract Energy Plc

Xtract's prime assets are its interest in shale oil deposits at Julia Creek in 
Queensland, Australia and a joint venture with the Australian research group, 
CSIRO, to develop a process for extracting oil from shale deposits.  The 
initial validation tests, comprising small scale batch extractions of oil from 
the shale, have demonstrated that recovery from Xtract's Julia Creek shales in 
Queensland, Australia, would be in the order of 150 litres of light crude 
oil per tonne of shale. Earlier conventional retorting experiments indicated 
that the conversion of kerogen to oil yielded about 74 litres of oil per ton 
of shale.

Applying this rate of yield increase to the yields of 50 - 65 litres per tonne 
used earlier this year in Xtract's AIM admission document in relation to 
certain of Xtract's Julia Creek leases results in estimated in-situ shale oil 
resources of over 1.6 billion barrels of oil.

Other energy assets held by Xtract are:

  • Cambrian Oil and Gas Plc ('COIL') which is developing oil and gas assets
    in the Kyrgyz Republic.

COIL has acquired 25% of the issued share capital of ASX listed Methanol
Australia Ltd ('MEO'). MEO is focused on developing a gas-to-liquids project in
the Timor Sea, approximately 275 km northwest of Darwin, Australia, in an area
known as Tassie Shoal. It has secured Australian Commonwealth Government
environmental approvals for two large scale (1.8 mtpa) methanol plants (50%
interest) and a 3 mtpa LNG plant (100%), which is the only new Australia LNG
project to receive its Commonwealth Government environmental approvals.

  • approximately 19.1% of Wasabi Energy Limited which has rights to the
    Kallina power technology, uranium exploration interests in the Northern
    Territory, Australia, interests in the newly-formed Evolution Energy joint
    venture to produce bio-diesel fuel in Australia and in a coal deposit in
    Canada;

  • approximately 18.2% of Aviva Corporation Limited with promising thermal
    coal deposits in the mid-west of Western Australia.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
    
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