Investment update

Xtract Energy plc
08 February 2008

8 February 2008                                                         AIM: XTR

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

                     INVESTMENT UPDATE - WASABI ENERGY LTD

Xtract is pleased to update shareholders on two recent developments at its
investee company Wasabi Energy Ltd ('Wasabi'). Xtract currently holds
approximately 35.4% of Wasabi.

1. Greenearth Energy Ltd (ASX:GER)
Greenearth Energy Ltd ('Greenearth') was admitted to the Official List of ASX
Limited on Thursday 31 January 2008. Official quotation of Greenearth's
securities commenced on Monday 4 February 2008. Greenearth's principal
activities are the exploration and development of geothermal resources in
Australia. Wasabi holds approximately 12.5% of Greenearth.

2. Aviva Corporation Ltd (ASX:AVA)
Xtract is pleased to refer shareholders to the following press release announced
by integrated coal to energy company Aviva Corporation Ltd ('Aviva') in
Australia on 7 February 2008. Wasabi holds approximately 11.9% of Aviva. 

Commenting on the recent developments, Andy Morrison, Xtract CEO said, 'Wasabi
Energy continues to be a valuable incubator of high potential new businesses'

   'AVIVA ANNOUNCES A COAL RESOURCE OF OVER ONE BILLION TONNES AT MMAMANTSWE

Integrated energy company Aviva Corporation Limited (ASX:AVA), today announces
an initial resource estimate of 1.287 billion tonnes of coal at the Mmamantswe
Coal Project in Botswana.

The result is a major resource boost for Aviva, and is more than double the
600Mt target proposed in April 2007 when the prospecting licences were granted.

Aviva CEO, Mr Lindsay Reed, said the initial resource estimate highlighted the
potential of the project, where Aviva has been investigating the merit of a
1,500MW power station.

'The resource estimate affirms the Mmamantswe Project as very low strip ratio
open pit thermal coal deposit, with the potential to supply the six million
tonnes per annum required to support the 1,500MW power project,' Mr Reed said.

'The in situ tonnage of 1.3 billion tonnes significantly exceeds the 600 million
target set by the company, and is a major milestone in the development of the
project,' he said.

Coal quality is in line with expectations, and testwork confirms that around
half the ash is removed at high relative densities of 1.8-1.9.

The average overburden cover in the resource area suggests a stripping ratio of
around 1bcm/tonne of in-situ coal.

Drilling revealed that the volume of the coal basin was larger than targeted
because the thickness of the carbonaceous sequence persisted further to the west
than anticipated. Coal quality test work results received to date confirm the
coal content of the carbonaceous sequence also persists to the west.

Resource estimate                          Total        RD 1.90        RD 1.80
Volume                    Mm3              658.4          658.4          658.4
Ash                       %ad               57.7           30.5           25.2
Calorific volume      GJ/t ad                9.2           18.2           20.1
Fixed Carbon             % ad               21.3           40.2           43.6
Inherent Moisture        % ad                3.3            5.0            5.3
Relative Density                             2.0
Sulfur                   % ad                0.8            0.4            0.4
Volatiles                % ad               17.6           24.4           25.9
Cumulative Yield            %                              51.8           41.2
Thickness                   M               43.7           43.7           43.7
Tonnes                     Mt            1,287.9          648.3          487.9

The coal quality test work confirms Aviva's expectation that the coal would be
amenable to beneficiation at a relatively high cut point. Cumulative floats in
the 1.8 to 1.9 relative density range show 50% reduction in ash at a 40-50%
yield. The calorific value of the coal in these cumulative floats ranged from
18-20 GJ/tonne which is at the high end of the company's expectation.
Particularly pleasing is the sulphur content of 0.84% which is reduced to less
than 0.5% in the cumulative floats.

The resource estimate is based on a 32 hole 3500m drill program. Of these holes
23 intersected coal and have been utilised in the resource volume calculation.
Coal quality test work results for 13 of these holes were used to model the coal
quality parameters. Coal quality results from another nine holes are now
available and will be incorporated in the resource model. It is expected that
these results will upgrade some of the resource from the Inferred to Indicated
category. A drill hole location map, table of drill holes, description of coal
zoning and break down of the resource estimated by zone is appended to this
release.

A new drilling program to upgrade the deposit to reserve is currently being
planned to commence in late March. The program will comprise 150-250 holes and
will be designed to upgrade the resource to reserve status. The drill program
will increase the density of coal quality information across the deposit, enable
coal preparation test work and design to be completed and provide a composite
sample of a representative washed product for combustion test work to enable
boiler design.'

Further information on Aviva can be found at www.avivacorp.com.au. As an ASX
listed company, Aviva is not subject to the AIM Rules and this resource update
has not been reviewed by a named 'qualified person' from Xtract or an appointed
adviser of Xtract as defined and required by the AIM Guidance Note for Mining,
Oil and Gas companies.

Enquiries please contact:

Xtract Energy plc              Andy Morrison, CEO      [phone]

Smith & Williamson Corporate   David Jones             [phone]
Finance Limited                Azhic Basirov                   
                               
Scott Harris                   Stephen Scott           [phone]
                               Annabel Michie

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

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.

Xtract is supported by its cornerstone investor, Cambrian Mining Plc (AIM:CBM) a
diversified resource investment house which together with its wholly owned
subsidiary Cambrian Investments Holdings Limited holds approximately 50.12% of
the issued share capital of the Company.

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) which are adjacent to the Evans Shoal gas field.

Elko Energy

Elko is an oil & gas exploration company which has an interest in a 5,370km2
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.

Wasabi Energy

Wasabi is a diversified investor in renewable energy and low greenhouse emission
technologies, with interests in geothermal waste/heat, uranium exploration in
Australia's Northern Territory and biodiesel investments in Victoria.

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.

Xtract is also available for trading on the open market segment of the Frankfurt
Stock Exchange (ticker R9X.FSE).





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