Investment Update

Xtract Energy plc
05 October 2007

5 October 2007                                                         AIM: XTR

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

                               Investment Update

Xtract is pleased to report that Rum Jungle Uranium Ltd ('Rum Jungle') has
recently published its prospectus for the issue of 32 million ordinary shares to
raise approximately A$8 million via an initial public offering ('IPO') and
listing on the Australian Stock Exchange (ASX). The IPO has been underwritten by
Southern Cross Equities Ltd.

Xtract's interest in Rum Jungle is held through investee company Wasabi Energy
Ltd (Xtract owns 34.5% of Wasabi). Rum Jungle has, or may acquire, interests in
exploration licences covering some 4,150 square kilometers of the Northern
Territory of Australia, and has entered into agreements which will give it
rights to explore for uranium over a further 3,330 square kilometres. The
company has already undertaken airborne magnetic and radiometric surveys and
delineated prospective exploration targets.

Rum Jungle is led by Mr David Muller; Mr Muller has over 40 years experience in
the Australian mining and exploration industries.

Commenting on the prospective listing of Rum Jungle, Andy Morrison, CEO of
Xtract Energy said that: 'The prospective listing of Rum Jungle is a great
example of the development model employed by Wasabi Energy Ltd; working closely
with talented management teams to build new businesses and bring them to
market'.

Further information on Rum Jungle can be found at www.rumjungleuranium.com.au

Enquiries please contact:

Xtract Energy plc              Andy Morrison, CEO      [phone]

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

Scott Harris                   Stephen Scott           [phone]
                               Annabel Michie

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

About Wasabi

Wasabi is a diversified investor in traditional and renewable energy
technologies. Some of its most promising investments in addition to Rum Jungle
include:

Geothermal/Waste Heat Recovery

Wasabi recently formed a new joint venture with AMP Capital Partners LLC, a U.S.
based private equity fund. Pursuant to the transaction a newly incorporated
subsidiary of Wasabi, Global Geothermal Limited acquired Recurrent Engineering
LLC that is focused on the delivery of highly efficient Geothermal and Waste
heat power stations and technology. Wasabi owns 70% of Global Geothermal Limited
which brings together the intellectual property and skills needed to promote the
well-established Kalina cycle technology.

Aviva Corporation Ltd

Wasabi owns approximately 18% of Aviva Corporation Ltd (Aviva) a company listed
on the Australian Stock Exchange with its head office in Perth, Western
Australia. Following the deregulation of the Western Australian power industry
in March 2006, prospects have improved considerably. Aviva has positioned itself
as an integrated energy company providing long-term certainty for the coal
producers and power generators. In February 2007 Aviva made its first
international move, entering a joint venture on the Mmamantswe coal deposit in
Botswana.

About Xtract Energy Plc

Xtract identifies and invests in a diversified portfolio of early stage energy
sector technologies and businesses with very significant growth potential. We
aim 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.

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

MEO is focused on developing gas-to-liquids ('GTL') projects in the Timor Sea
Australia, in an area of shallow water known as Tassie Shoal. It has secured
Commonwealth 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) offshore located in the heart of the gas fields.

Elko Energy

Elko is an oil & gas exploration company which has an interest in a 5,400km2
exploration and production licence in the Danish North Sea and an investment in
Dragon Energy Inc, a private Canadian company, with a development project in
Gansu Province, China.

Central Asian Interests

Xtract's Central Asian interests include a production sharing agreement with
Kyrgyzneftegaz to instigate a water injection project on the Beshkent- Togap oil
field. Xtract also holds interests in several exploration licences in the Tash
Kumyr area and in the Toktogul exploration licence.

Oil Shale

Xtract has oil shale and related petroleum product exploration rights over 
mining tenements in the Julia Creek area of Queensland and has recently been 
granted an exploration permit which gives rights to explore for oil shale in 
an area in the South of New Zealand. It is investigating the commercial 
production of hydrocarbons (crude oil) from oil shale.




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