Investment Update

12 November 2009

AIM: XTR

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

                   Investment Update - Elko Energy

Xtract refers to the text set out below of a shareholder letter  sent
by Elko  Energy  Inc.  ("Elko")  to  its  shareholders  (Xtract  owns
approximately 36.8% of Elko's issued share capital).

                         "Shareholder Update

Elko Energy Inc. ('Elko') is pleased to provide this further  regular
update on the ongoing development of the Elko business.

Elko Business Update

Denmark

Following the reprocessing of approximately 3,000 km of seismic  data
over our 02/05  Danish licence,  Gaffney Cline  and Associates  (GCA)
have  now  completed  an  evaluation  of  the  Chalk  interval.   The
evaluation has identified a large Chalk channel some 90 km long by 10
km wide across the 02/05 licence. It  has the potential to be a  good
reservoir  quality  sediment   and  also  a   possible  conduit   for
hydrocarbon  migration. The Chalk channel has the potential to hold a
considerable volume of hydrocarbons which in a moderate case scenario
could be 375 million barrels of recoverable oil.

This new Chalk prospect is  in addition to the previously  identified
deeper Rotliegendes sandstone prospect and the opportunity now exists
to evaluate both the Chalk horizon and Rotliegendes sandstone horizon
by drilling a single suitably designed well. Marketing of the  Danish
opportunity with the focus on the GCA Chalk evaluation has  commenced
within the  industry.  Ahead  of  entering  the  next  phase  of  the
exploration licence in April 2010, an optional commitment to drill  a
well has  to  be given  to  the  Danish Energy  Agency.  The  current
estimate 100%  cost of  drilling a  well capable  of evaluating  both
horizons is  US$15 million,  excluding production  testing (based  on
quotations from  Well Management  consultancies). Elko  holds an  80%
interest in the 02/05 licence.

Netherlands

The reservoir modeling  of the  P1 Block, P1-FA  field has  concluded
that the  optimal  development plan  will  required five  long  reach
horizontal wells to sustain a plateau production rate of 120 mmscf/d.
An appraisal well location has been identified and a well proposal is
under preparation for submission to the Dutch state authorities.

On the P2 Block, reprocessing of  previous 3D seismic is ongoing  and
will be  complete by  2009 year end. Early  fast track data has  been
analyzed and shows improved imaging over the existing discoveries and
prospects. Also an additional new prospect has been identified.

Elko continues to  hold discussions  with a number  of potential  new
financing partners to  replace Oyster via  a promoted farm  out of  a
percentage of Elko's working interest in Blocks P1 and P2.

Securing a financing partner ahead of entering the next phase of  the
exploration licences on both Blocks P1 and P2 remains a priority  for
Elko. The date  for this  optional commitment to  drill an  appraisal
well on P1 and a well on P2 is February 2010. It should be noted that
Elko previously secured an  eight month extension  on the P1  licence
first exploration  phase  from June  2009  until February  2010.  The
current cost estimate  of drilling two  wells on P1  and P2 is  US$55
million (based  on quotations  from Well  Management  consultancies).
Elko holds a 60% interest in the P1 and P2 licences.

Licence Commitments

Further details of Elko's licence  commitments and guarantees can  be
found in  note 17  of the  Company's Audited  Consolidated  Financial
Statements for the year ended December 31, 2008.


CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
We have made forward-looking  statements in this President's  Message
that are  subject  to  significant  risks  and  uncertainties.  These
statements concern  Elko's  plans, expectations  and  objectives  for
future operations of Elko's licenses in the North Sea."

Peter Moir
President
November 11, 2009


Further information on Elko can be found at www.elkoenergy.com

Elko Energy Inc. is not subject to the AIM Rules and the  information
contained in  this announcement  has  not been  reviewed by  a  named
"qualified person"  as  defined and  required  by the  AIM  Note  for
Mining, Oil and Gas Companies.


Enquiries please contact:


Xtract Energy      Andy Morrison, CEO [phone]

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



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.

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
34% of the issued share capital of Extrem Energy.

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 on  26 offshore  blocks in  a 5,400  sq km  exploration  and
production licence close  to the prolific  Central Graben oil  field.
Technical work 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 36.8%  of
Elko's issued share capital.

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.

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.

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