18 Oct 2016 07:00
18 October 2016
Altona Energy plc
("Altona" or "the Company")
Petroleum Exploration Licence Application
Altona Energy plc (AIM: ANR) makes the following announcement further to the notification dated 28 July 2016. Altona is a joint venture partner of the Arckaringa Coal Chemical Joint Venture Company Pty Ltd ("the JV Company"). On 17 October 2016, the JV Company submitted an application for a Petroleum Exploration Licence ("PEL") in respect of an area overlapping that covered by PEL Application 604, which was lodged by Sapex Limited, a 100% subsidiary of Linc Energy Ltd, which is now in administration.
The PEL application follows talks with the South Australian government, which remains supportive of the Company's proposed investment in the Arckaringa Basin (in South Australia). The Directors cannot provide any assurances regarding the likely outcome of the PEL application at this time. However, the Board remains confident that, along with its joint venture partners, Sino Aus Energy Group Ltd and Wintask Group Ltd, it will be successful in its endeavour to commence an Underground Coal Gasification ("UCG") test drilling programme.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information, please visit www.altonaenergy.com or contact:
Altona Energy plc Qinfu Zhang, Executive Chairman | +44 (0)7769 906 686
|
Nick Lyth, Non-Executive Director | |
Leander (Financial PR) Christian Taylor- Wilkinson
| +44 (0)7795 168 157 |
Northland Capital Partners Ltd (Nomad and Broker) Matthew Johnson / Gerry Beaney (Corporate Finance) John Howes / Abigail Wayne (Corporate Broking)
| +44 (0)20 3861 6630 |