27 Nov 2008 15:26
Spitfire Oil Ltd.
("Spitfire" or the "Company"; AIM Ticker: SRO)
Results of AGM
Spitfire Oil Limited announces that all the resolutions put to its shareholders at today's Annual General Meeting were duly passed.
Further information
Roger Goodwin, Finance Director Telephone: +44(0)20 7629 7774
Spitfire Oil Limited
Adrian Hadden Telephone: +44(0)20 7523 8320
Collins Stewart Europe Limited
Notes for editors
Spitfire's principal activity is the pursuance of the production of fuel oil and distillate from the Salmon Gums Lignite deposits in Western Australia. Spitfire controls six exploration tenements totalling 519 km2 near Salmon Gums, near Esperance, in the south east of Western Australia. The tenements contain a large lignite (brown coal) deposit with a JORC Inferred Resource of 500 million tonnes of lignite. The lignite has a high kerogen (hydrocarbon) content convertible into oil using low temperature pyrolysis at a yield of 0.43 bbl / tonne. Extractable commercial oil reserves are estimated to exceed 200 million barrels. Salmon Gums is located next to a main road, railway and pipeline connecting Kalgoorlie and the port of Esperance.