QFI.L Regulatory News (QFI)

19 Apr 2006 11:56

Zareba PLC19 April 2006 Quadrise Fuels International plc ("Quadrise" or "the Company") formerly Zareba plc First Day of Trading The Board of Quadrise is pleased to announce that, earlier today, the enlargedshare capital of the Company was admitted to trading on AIM and accordingly, theacquisition of Quadrise International Limited by Zareba plc in a reversetakeover has been completed. The ordinary shares of Quadrise will trade under the current TIDM of "ZBA"until the close of trading today and, thereafter, under the TIDM "QFI". Since the publication of the admission document in March 2006, the Company ispleased to be able to report progress in the development of the business. Our Canadian associate, Quadrise Canada Fuels Systems Inc., has closed itsfirst commercial scale contract for the manufacture and use of MSAR fuel forsteam generation in a new heavy oil field production development project inAlberta and has further projects under active negotiation. Our affiliate, Quadrise Fuels US LP, has been formed recently in Delaware, USAand initial financing for the US activity is planned for the second quarter of2006. Preliminary negotiations have started on two potential offshoremanufacturing sites to supply MSAR fuels for the US market. Concept design and costing for the Quadrise on-site heavy oil separator has nowbeen completed by an international engineering contractor and cost estimates arewithin expectations. The Company is now well placed to finalise offer terms andprogress negotiations on processing and supply contracts currently underdiscussion. Ian Williams, Executive Chairman, commented, "The completion of the reversetakeover represents a significant milestone for Quadrise and our shareholders.We now have the resources and the capability to accelerate the commercialapplication of MSAR fuels technology and aggressively pursue our earlydevelopment objectives. We are confident that the Quadrise MSAR fuels business will create substantialvalue owing in part to the economic benefits it offers to the thermal powergeneration industry. Conversion from certain traditional hydrocarbon feedstocksto MSAR fuels will also contribute to lower emissions." Bill Howe, Chief Executive, commented, "Our Quadrise MSAR fuels business hassubstantial global market potential. This transaction and the support ofshareholders position the Company to actively pursue partnerships in newmarkets while also moving to close deals currently in varying stages ofnegotiation. Strong growth in international electrical power demand is set to continue. Wehave the ability to offer very meaningful savings in thermal power generationcosts while also adding to the supply of valuable light oils for transportationfuels. We hope to be informing shareholders of further progress over the course of thecoming year." For further details please contact: Ian Williams/Bill Howe 020 7550 4930Quadrise Fuels International plcwww.quadrisefuels.com Azhic Basirov 020 7131 4000Smith & Williamson Corporate Finance Limited Victoria Thomas 020 7493 3713Parkgreen Communications 19 April 2006 Notes to Editors: - Quadrise was admitted to trading on AIM on 19 April 2006 following areverse takeover transaction. - The Company holds a portfolio of managed, affiliate and associateinterests all of which are engaged in developing business activities associatedwith the manufacture and marketing of Quadrise MSAR fuels. - MSAR is a liquid fuel consisting of very fine oil particlesdispersed in a water carrier effectively producing a pre-atomised fuel. Thisenhances concepts previously used in emulsified fuels, enabling superior carbonburnout, improving thermal efficiency and reducing emissions. - Quadrise has access to an in-house team of commercial and technicalexperts who are experienced in the oil and energy business with contractedspecialist consultants who are experts in the energy, oil and power generationsectors and in the specialised field of emulsion fuels processing, marketing andcombustion. - Quadrise has access to opportunities through the establishedrelationships in the energy and oil industries and markets world wide ofMasefield Energy Holdings AG, its largest shareholder. It can also draw onspecialist services from group affiliates, on arms' length market terms,covering oil procurement and operations, price and freight risk management,transaction financing and other trading related activities. - By using only the very heavy residues derived from processed crudeoils, the use of Quadrise MSAR fuels enables the release of the valuablelighter oil fractions for processing into high value transportation fuels likediesel and jet fuels. This information is provided by RNS The company news service from the London Stock Exchange