11 Mar 2010 07:00
Altona Energy Plc / Index: AIM / Epic: ANR / Sector: Exploration & Production
11 March 2010
Altona Energy Plc ('Altona' or 'the Company')
Appointment of Project Technology Executive
Altona Energy Plc, the AIM listed Australian based energy company, announces the appointment of Peter Fagiano as Senior Executive in charge of Project Technology. Peter is currently Director of Operations at Jacobs Engineering UK Limited ('Jacobs'), a subsidiary of one of the world's leading project engineering firms, and has been instrumental in the completion of the Company's pre-feasibility study for an integrated coal to liquid and power project, utilising Altona's energy bank in Arckaringa, South Australia.
Mr. Fagiano will work on a part-time basis alongside Altona's Joint Venture ('JV') partner, CNOOC-NEI, a subsidiary of one of China's leading oil majors, China National Offshore Oil Corporation, to complete a Bankable Feasibility Study ('BFS') to evaluate the numerous conversion opportunities for Altona's estimated 7.8 billion tonne coal resource of which 1.287 tonnes are JORC complaint.
Altona Chairman Chris Lambert said, "It is a great vote of confidence in Altona and the Arckaringa Project that Peter Fagiano, having worked with us for a number of years and having recent direct involvement with leading clean coal conversion technologies, is joining our Management Committee. Peter will be a key member of our technical team on the project and his experience, combined with that of Chris Schrape, our Managing Director, will be invaluable in ensuring the project and BFS proceeds as planned.
"The work schedule for the year is industrious, with central focus on the evaluation with CNOOC-NEI, of projects involving the conversion of our huge energy bank into high value clean fuels and industrial feedstocks, including our base case project comprising a 10 million barrel per annum coal to liquid plant and 560MW co-generation power facility. Our team's project management experience, anchored on the implementation of proven engineering technologies, will be critical to the success of this project."
In his role of Senior Executive - Project Technology, Mr. Fagiano will join Chris Lambert and Chris Schrape as Altona's representatives on the seven strong Arckaringa Joint Venture Management Committee, which is responsible for the conduct of the JV and takes decisions on all key matters unanimously. Additionally, Mr. Fagiano will support the work of the JV Operating Team.
Mr. Fagiano is a chartered engineer with over 40 years experience in process industries world-wide. In his ten years at Jacobs, Mr. Fagiano has established the Process and Technology Division covering the Petrochemicals and Chemicals business sectors. Mr. Fagiano has completed major projects for BP, Chevron, Petrobas, Conoco Phillips, Shell, Statoil and Total amongst other international energy companies. Additionally, he established an independent technology company specialising in synthetic gas applications and developing technology from its own R&D facilities.
**ENDS**
For further information visit www.altonaenergy.com or please contact:
| Christopher Lambert | Altona Chairman | Tel: +44 (0) 20 7024 8391 |
| Christopher Schrape | Altona Managing Director | Tel: +44 (0) 20 7024 8391 |
| Simon Edwards | Evolution Securities Ltd | Tel: +44 (0) 20 7071 4300 |
| Tim Redfern | Evolution Securities Ltd | Tel: +44 (0) 20 7071 4300 |
| Paul Youens | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
| Hugo de Salis | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |