Completion of Second Tranche of Placing

Altona Energy Plc

("Altona" or "the Company")

Completion of Second Tranche of Placing

Further to the announcement this morning regarding the issue of equity to Wintask Group Limited ("Wintask"), Altona is pleased to announce that the remaining funds due under the terms of the placing agreement have now been received by the Company.

The 170,300,000 second tranche ordinary shares will be admitted to trading on AIM on 17 January 2014. The Wintask placing shares are to be issued at a price of 1.4pence per share, being a 51% premium to the closing price on 14 January 2014, for total consideration of £2,384,200 (before expenses). The Placing Shares rank pari passu in all respects with the Company's existing Ordinary Shares.

On admission of the second tranche placing shares, Wintask will be interested in a total of 230,000,000 ordinary shares of the Company, representing approximately 29.04% of Altona's issued share capital enlarged by the Placing shares. 

Following the admission of the 170,300,000 Placing Shares to trading the Company's total issued share capital will be 791,956,853 ordinary shares.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Altona under the FCA's Disclosure and Transparency Rules

Commenting on the completion of the placing, Michael Zheng, Chairman commented: "We are delighted to be able to announce the completion of the placing for our new strategic cornerstone investor, Wintask Group Limited. We are confident that a combination of Wintask's investment, and strategic contribution to the company, puts Altona in a good position with respect to our flagship Arckaringa project."

Altona Energy Plc +44 (0) 20 7024 8391

Christopher Lambert, Chief Executive Officer

Peter Fagiano, Executive Director

WH Ireland Ltd +44 (0) 20 7220 1666

Adrian Hadden

James Bavister

Old Park Lane Capital Plc +44 (0) 20 7493 8188

Michael Parnes

Tavistock Communications +44 (0) 20 7920 3150

Mike Bartlett

Simon Hudson