Xtract Regulatory News (XTR)

24 Jan 2007 07:01

Xtract Energy plc24 January 2007 24 January 2007 AIM: XTR XTRACT ENERGY PLC ("Xtract" or the "Company") Change of Accounting Reference Date Xtract announces that it has changed its accounting reference date from 31 December to 30 June. The reason for this change is to align the Company's accounting reference date with that of its parent company, Cambrian Mining Plc. The next results to be announced will cover the 12 months ending 31 December 2006 and subsequently the 18 months ending 30 June 2007. Enquiries: XtractJohn Newton 020 7409 0890Director About Xtract Energy Plc Xtract's prime assets are its interest in shale oil deposits at Julia Creek in Queensland, Australia and a joint venture with the Australian research group, CSIRO, to develop a process for extracting oil from shale deposits. The initialvalidation tests, comprising small scale batch extractions of oil from the shale, have demonstrated that recovery from Xtract's Julia Creek shales in Queensland, Australia, would be in the order of 150 litres of light crude oil per tonne of shale. Earlier conventional retorting experiments indicated that the conversion of kerogen to oil yielded about 74 litres of oil per ton of shale. Applying this rate of yield increase to the yields of 50 - 65 litres per tonne used in Xtract's AIM admission document in relation to certain of Xtract's Julia Creek leases results in estimated in-situ shale oil resources of over 1.6 billion barrels of oil. Other energy assets held by Xtract are: • Approximately 64.6% of Cambrian Oil and Gas Plc ("COIL") which is developing oil and gas assets in the Kyrgyz Republic. COIL also owns 25% of the issued share capital of ASX listed Methanol Australia Ltd ("MEO"). MEO is focused on developing a gas-to-liquids project in the Timor Sea, approximately 275 km northwest of Darwin, Australia, in an area known as Tassie Shoal. It has secured Australian Commonwealth Government environmental approvals for two large scale (1.8 mtpa) methanol plants (50% interest) and a 3 mtpa LNG plant (100%), which is the only new Australia LNG project to receive its Commonwealth Government environmental approvals. • Approximately 15% of Wasabi Energy Limited which has rights to the Kallina power technology, uranium exploration interests in the Northern Territory, Australia, interests in the newly-formed Evolution Energy joint venture to produce bio-diesel fuel in Australia and in a coal deposit in Canada. • Approximately 18.6% of Aviva Corporation Limited with promising thermal coal deposits in the mid-west of Western Australia. This information is provided by RNS The company news service from the London Stock Exchange