30 Jul 2014 07:00
30 July 2014
Altona Energy Plc
("Altona")
Joint venture negotiation update
Altona (AIM: ANR) today announces that alongside its partners Wintask and Sino-Aus the negotiations over the Arckaringa joint venture agreement are continuing. Altona, Sino-Aus and Wintask recently held constructive talks in Xi'an, People's Republic of China, where the commercial terms of the joint venture agreement were discussed.
Chairman, Michael Zheng commented: "All of the parties had hoped to conclude the joint venture agreement before 31 July 2014 however there is complexity inherent in negotiating an agreement across international jurisdictions for a project of the size and potential of the Arckaringa project. We are continuing to work very hard alongside Wintask and Sino-Aus and thank shareholders for their continued patience and look forward to giving further information in the near future".
For further information, please visit www.altonaenergy.com or contact:
Altona Energy Plc Michael Zheng, Chairman
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+86 (10) 5969 6162
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WH Ireland Ltd Adrian Hadden James Bavister
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+44 (0) 20 7220 1666 |
Old Park Lane Capital Plc Michael Parnes
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+44 (0) 20 7493 8188 |
Tavistock Communications Mike Bartlett
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+44 (0) 20 7920 3150 |
Marlow Communications (Australian media) Stephen Marlow | +61 (0) 8 8357 7707 |
About Altona
Altona is listed on the London Stock Exchange's AIM market. Its focus is firmly on the evaluation and development of the Company's coal-to-liquids Arckaringa Project to exploit the huge coal resources, equivalent to 7.8 billion barrels, contained in three exploration licences covering 2,500 sq. kms in the northern portion of the Permian Arckaringa Basin in South Australia.
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