Altona Energy Regulatory News (ANR)

13 May 2011

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

Altona Energy Plc 

Placing Agreement with Tongjiang International Energy Co. Ltd

Altona Energy Plc ('Altona' or 'the Company'), the AIM listed Australian based energy company, today announces that it has entered into a conditional placing agreement with Tongjiang International Energy Co. Ltd ('Tongjiang') for the placement of 10,204,081 ordinary shares ('the Placing Shares') at 9.80 pence per share to raise gross proceeds of £1,000,000 ('the Placing'), to provide additional working capital for the Company. The Placing Shares represent 2.42% of the current issued share capital of the Company and will rank pari passu with the Company's existing Ordinary Shares.

The Placing is conditional on the receipt of funds from Tongjjang by 10 June 2011, and the admission of the Placing Shares to trading on the AIM market of the London Stock Exchange ("AIM") by 15 June 2011. Upon receipt of the funds an application will be made for the admission of the Placing shares to trading on AIM and a further announcement will be made in due course.

Following the completion of the Placing, Tongjiang will have an interest in 86,704,081 ordinary shares of the Company, representing approximately 20.09% of Altona's enlarged issued share capital.

The independent directors of Altona, namely Christopher Lambert, Christopher Schrape, Anthony Samaha, Peter Fagiano and Philip Sutherland, consider, having consulted with the Company's nominated adviser, Evolution Securities Ltd, that the terms of the Placing are fair and reasonable insofar as the Company's existing shareholders are concerned.

The total number of ordinary shares in issue following the completion of the Placing will be 431,656,853.

**ENDS**

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