29 Apr 2010 14:45
Alecto Energy plc / Index: AIM / Epic: ALO
29 April 2010
Alecto Energy plc ('Alecto' or the 'Company')
Extension of Exclusivity Period
Alecto, the AIM listed investing company with a strategy of making investments in the energy sector, today announces that it has agreed an extension to the exclusivity period with Bulgarian Mining Corporation Ltd ("BMC").
Alecto announced on the 27 January 2010 that it had entered into heads of terms containing a 90 day exclusivity period in order to enable the Company to assess certain uranium exploration licences in Bulgaria held by BMC (the "Licences").
SRK Exploration Services ("SRK") have completed an initial review of the historical data relating to the Licences. However, in order to complete their review, SRK have requested additional time to assess further data. As a result, BMC have agreed to extend the exclusivity period by an additional 60 days at no additional cost to the Company. The length of this extension is intended to ensure that the Company has sufficient time in which to complete the review work although the Board expects to receive the preliminary results of this further review within a much shorter time frame.
Further announcements will be made when the final report has been received and evaluated by the Company.
**ENDS**
For further information on the Company, visit: www.alectoenergy.com or contact:
| Damian Conboy | Alecto Energy plc | Tel: 020 3006 0260 |
| Greg Kuenzel | Alecto Energy plc | Tel: 020 3328 5670 |
| Nick Naylor | Allenby Capital Limited | Tel: 020 3328 5656 |
| Alex Price | Allenby Capital Limited | Tel: 020 3328 5656 |