Xtract Energy plc
18 December 2007
18 December 2007 AIM: XTR
Xtract Energy Plc ('the Company')
Exercise of Warrants
Xtract Energy plc ('the Company') announces that it has issued and allotted
13,900,000 Ordinary Shares following receipt of notices of exercise of warrants.
7,400,000 of these warrants were exercised at 1p per share and 6,500,000 were
exercised at 2p per share.
Application will be made for the new Ordinary Shares to be admitted to trading
on AIM. The new Ordinary Shares will rank pari passu with the existing Ordinary
Shares in the Company and trading of these shares on AIM is expected to commence
on 24 December 2007.
The total number of Ordinary Shares in issue following these issues is
734,476,476.
Enquiries please contact:
Xtract Energy plc Andy Morrison, CEO +44 (0) 20 7079 1798
Smith & Williamson David Jones +44 (0) 20 7131 4000
Corporate Finance Limited Azhic Basirov
Scott Harris Stephen Scott +44 (0) 20 7653 0030
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 Investment Holdings Ltd, holds approximately 50.34% 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
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