Altona Energy Regulatory News (ANR)

Altona Energy Plc / Index: AIM / Epic: ANR / Sector: Exploration & Production

 6 December 2010

Altona Energy Plc ('Altona' or 'the Company')

Executive Director Appointment

Altona Energy Plc, the AIM listed Australian based energy company, is pleased to announce the appointment of Mr. Peter Fagiano as an Executive Director of the Company responsible for Project Technology, effective from January 2011. The appointment of Mr. Fagiano follows his retirement from Jacobs Engineering UK Limited ('Jacobs'), a subsidiary of one of the world's leading project engineering firms, where he was Director of Operations - Process & Technology Division. Under Mr. Fagiano's leadership, Jacobs performed numerous techno-economic studies for Altona in respect of the development of the Arckaringa Coal-to-Liquids ('CTL') Project in South Australia. Throughout the course of his 45 year career, Mr. Fagiano has completed major projects for BP, Chevron, Petrobas, Conoco Phillips, Shell, Statoil and Total amongst other international energy companies.

Mr. Fagiano is currently one of Altona's representatives on the Management Committee of the Joint Venture with CNOOC-NEIA and is a key member of the technical team. Working alongside CNOOC-NEIA, Mr. Fagiano has been instrumental in the progression of a Bankable Feasibility Study ('BFS') to evaluate the conversion opportunities for the Arckaringa coal resource of an estimated 7.8 billion tonne coal resource, of which 1.287 billion tonnes are currently JORC complaint.

Altona Chairman Chris Lambert said, "It is a huge vote of confidence in Altona and the Arckaringa Project that Peter has agreed to join the Board as Executive Director responsible for Project Technology and work with the Company and our Chinese partners to advance the Arckaringa Project, which we believe to be one of the world's largest untapped energy banks. This is a further endorsement of the project's quality and its potential, particularly as Peter already has an in-depth understanding of Arckaringa through his work conducted for Altona when at Jacobs and as part of our technical committee.

"We look forward to receiving Peter's valuable technical input at both Board and operational levels. Peter has already worked closely with CNOOC-NEI and evaluating 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 CTL plant and 560MW co-generation power facility."

Peter Michael John Fagiano, aged 68, is a chartered engineer with over 45 years experience in process industries world-wide. In his twelve years at Jacobs, Mr. Fagiano has established the Process and Technology Division covering the Petrochemicals and Chemicals business sectors. Prior to that Mr. Fagiano worked with the ABB Group for 12 years, holding senior management positions including Managing Director of its UK & International Oil and Engineering Division, ABB Global Engineering. Additionally, he established an independent technology company specialising in synthetic gas applications and developing technology from its own research and development facilities.

Within the previous five years, Mr. Fagiano held a Directorship of the British Chemical Engineering Contractors Association, whose members represent the 20 major international process plant contractors based in the UK.

There is no further information required to be disclosed in respect of the above appointment pursuant to Schedule Two paragraph (g) of the AIM Rules.

**ENDS**

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