Altona Energy Regulatory News (ANR)

Altona Energy Plc - PEL Application Update

PR Newswire

London, May 16

16 May 2017

Altona Energy Plc(“Altona” or “the Company”)

PEL Application Update

Further to the announcement of 28 July 2016, the Company announces that it has been notified by the Minister for Mineral Resources and Energy for the South Australian Government that the assets of Linc Energy Ltd, including those of its wholly-owned subsidiary, SAPEX Limited, have been acquired by Tri-Star Petroleum Company Inc. (“Tri-Star”). These assets include Petroleum Exploration Licence Application (“PELA”) 604, which overlaps Altona’s three Exploration Licences (EL3360, 3361 and 3362) relating to the Arckaringa Project. 

The Company is in the process of contacting Tri-Star to establish its intentions for PELA 604. The Directors cannot give any assurances as to the outcome of any subsequent negotiations.

-ends-

For further information, please visit www.altonaenergy.com or contact:

About Altona

Altona is listed on the London Stock Exchange’s AIM market. Its principal focus is on the evaluation and development of the Company’s flagship Arckaringa Project to exploit the significant coal resources contained in three exploration licences covering 2,500 sq. kms in the northern portion of the Permian Arckaringa Basin in South Australia. The Project is designed to produce syngas products for the Australian market and export from a resource exceeding 7.8 billion tonnes of coal (1.3 billion tonnes JORC compliant).