Xtract Regulatory News (XTR)

30 June 2011

AIM: XTR

XTRACT ENERGY PLC

("Xtract" or the "Company")

Directorate changes

Xtract Energy Plc is pleased to announce that Dr George Watkins CBE has been appointed to the Board as Non-Executive Chairman with immediate effect.

Dr. George Edward Watkins CBE, age 67, holds a BSc in Mining, a PhD in Geophysics and an MSc in Management. He also holds an honorary degree of Doctor of Engineering DEng from Heriot Watt University. George joined the Conoco Group in 1973 and retired as Chairman and Managing Director of ConocoPhillips (UK) Ltd in 2002. He has served as a Non-Executive Director of Abbot Group plc, Paladin Resources plc, PSN Ltd and on the Defence Procurement Agency. He is a Governor of the Robert Gordon University.

The Company also announces that John Newton, Non-Executive Chairman, and Mark Nichols, Non-Executive Director, are stepping down from the Board to pursue other business interests with immediate effect.

Peter Moir, Chief Executive of Xtract, commented:

"The Company is pleased that George has agreed to join the Board as his experience in industry will prove invaluable as we continue with our strategy to create a platform for sustainable growth.

"I would also like to take this opportunity to thank both John and Mark for all of their hard work on the Board of Xtract. During this time, they have been an asset to the Company and have played important roles in the successful turnaround of Xtract. I wish them all the best in the future."

George Watkins, new Non-Executive Chairman of Xtract, said:

"I am delighted to join this dynamic team at this exciting time in the Company's evolution from an investing company to an operational company. The management have effected a successful turnaround of the business and have established a powerful platform for growth."

AIM Rules disclosure under Schedule 2(g) of the AIM Rules

The information detailed below is disclosed in accordance with Rule 17 and Schedule 2(g) of the AIM Rules for Companies. Except for the information disclosed below, there is no other information which falls to be disclosed under these rules.

The Directorships and past Directorships of Dr George Edward Watkins (aged 67) are listed below:

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Enquiries please contact:

About Xtract

Xtract identifies and invests in a portfolio of early stage oil and gas assets and business interests with significant growth potential. The Company aims to work closely with the associated management teams to achieve critical project milestones, to finance early stage asset and business development activity, and then to finance the asset development phase, or if appropriate to crystallise value for all shareholders at a suitable exit point. Xtract aims to achieve returns for our shareholders through access to the significant upside rewards associated with our investments.

For further information on Xtract please visit www.xtractenergy.co.uk

A short description of the principal assets of Xtract is set out below. These assets are either held directly or through wholly owned subsidiaries of the Company.

Extrem Energy AS ("Extrem Energy")

Following execution of heads of terms it is anticipated that in the near term Xtract will enter into a fully termed Assignment Agreement and associated Royalty Agreement pursuant to which Xtract will hold a royalty interest over the license portfolio currently owned by Extrem Energy, onshore and offshore Turkey.

Elko Energy Inc. ("Elko")

Elko is a Canadian registered oil & gas exploration company which has interests in exploration and production licences in the Danish and Dutch North Sea. Its major asset in the Danish North Sea is a 33% working interest in an exploration and production licence 02/05 and a 33% working interest in an adjoining exploration and production licence 01/11, close to the prolific Central Graben oil kitchen. Technical work indicates the potential for significant resources on these combined licenses. Neither of those licences is currently being produced and accordingly no profits are attributable to them. Elko also holds a royalty interest in gas-bearing license blocks P1 and P2 in the Dutch North Sea. Xtract currently owns approximately 50% of Elko's issued share capital.

Zhibek Resources Ltd ("Zhibek Resources")

Zhibek Resources is an oil and gas exploration and production company which has a 72% interest in the Tash Kumyr exploration licence in the Kyrgyz Republic. Xtract has entered a farm-out agreement to fund a seismic and drilling programme for 2008-2011. Xtract owns 25.0% of the issued share capital of Zhibek Resources.

Xtract Oil Ltd ("XOL")

Xtract's wholly owned subsidiary, XOL, is focused on the development of the Company's oil shale resources in Australia and the technology for oil extraction from oil shale resources. Xtract has oil shale exploration rights over mining tenements in the Julia Creek area of Queensland. In addition to evaluating third party technologies, XOL has been developing proprietary technology for the commercial extraction of liquid hydrocarbon products from oil shale.

Xtract Energy (Oil Shale) Morocco SA ("XOSM")

XOSM is a joint venture with Alraed Limited Investment Holding Company WLL, a company controlled by His Highness, Prince Bandar Bin Mohd. Bin Abdulrahman Al-Saud of Saudi Arabia. XOSM has signed a Memorandum of Understanding with the Office National des Hydrocarbures et des Mines for the purposes of evaluation and possible development of an oil shale deposit near Tarfaya, in the south west part of Morocco. Xtract currently holds 70% of the joint venture.