4 May 2011 17:06
The following amendments have been made to the 'Investor Presentation' announcement released on 4th May 2011 at 16:00 under RNS No 9455F.
The announcement referred to the wrongly named conference which should have read South Australian Resources and Energy Investment Conference 2011. All other details remain unchanged.
4 May 2011
Altona Energy Plc / Index: AIM / Epic: ANR / Sector: Exploration & Production
Altona Energy Plc ('Altona' or 'the Company')
Investor Presentation
Altona Energy Plc, the AIM listed Australia-based energy company, today announces that the presentation it delivered at the South Australian Resources and Energy Investment Conference 2011 is available on the Company's website. The presentation was given by Executive Director, Peter Fagiano, on 2nd May 2011 and can be found at www.altonaenergy.com.
For further information, please contact:
Altona Energy PlcChristopher Lambert, ChairmanChristopher Schrape, Managing Director Peter Fagiano, Executive Director | +44 (0) 20 7024 8391
|
Evolution Securities Ltd Tim Redfern Andrew Dacey
| +44 (0) 20 7071 4300 |
Threadneedle Communications Ltd Laurence Read Beth Harris | +44 (0)20 7653 9850
|
Notes to Editor
Altona Energy Plc is an AIM listed Australian based energy company. Its asset is an estimated 7.8 billion tonne coal resource (non-JORC) in the Arckaringa Basin of South Australia (JORC-compliant: 1.287 billion tonnes). This is considered by the Board to be one of the world's largest untapped energy banks. Per Jacobs Engineering's study for the Company, assuming a 50% conversion of CTL fuels and 50% to synthetic gas ('Syngas'), Arckaringa total coal resources (both JORC and non-JORC) would represent respectively 28% and 29% of current North Sea remaining proven reserves of 10,900mb of oil and 114,800 bcf of natural gas.
Altona has already accomplished a number of key phases in its development:
·; The Company has agreed the terms of a joint venture agreement with CNOOC-NEI, a subsidiary of Chinese oil major China National Offshore Oil Corporation, to accelerate the Arckaringa Project towards commercialisation.
·; Under the terms of the agreement, CNOOC-NEI will fund the bankable feasibility study ('BFS') for a coal mine and an integrated value-added project.
·; The current base case is a 10mb per year CTL plant and 560MW co-generation power facility.
·; CNOOC-NEI will also act as the operator and take responsibility for assessing the full potential of the coal resource, in return for a 51% interest in the exploration licences.
·; It is envisaged that numerous new additional projects may also be opened up to create a multi-project, multi-national business.
CTL
The quality of the Company's coal is suitable for conversion to synthetic gas ('Syngas'), using existing commercial CTL technologies. The process involves two major stages;
1. gasification to produce Syngas rich in hydrogen and carbon,
2. a liquefaction stage where the Syngas is reacted over a catalyst to produce high quality, ultraclean synthetic fuels and chemical feedstocks.
CTL is a prime example of clean coal technology - the associated combined cycle units produce negligible sulphur oxides, significantly less nitrogen oxides and 10-20% less CO2 per unit of power generated than a conventional coal fired plant, whilst carbon capture and storage offers the potential to reduce the overall greenhouse gas emissions from CTL to below the 'well to wheel' level of fuels derived from crude oil. The technology is best demonstrated in South Africa, where currently 30% of the country's gasoline and diesel fuel needs are met through CTL plants.