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Additional Information
Market: AIM
Sector: Energy
EPIC: XTR
Latest Price: 0.40p  (-6.98% Descending)
52-week High: 3.43p
52-week Low: 0.37p
Market Cap: 6.19M
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Xtract Energy
www.xtractenergy.co.uk

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

Xtract Energy Plc (‘Xtract’) was established in 2004 (as then Resmex Plc) and its shares were admitted to trading on AIM at the end of March 2005.

Full Xtract Energy profile here
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Xtract Energy raises £1.2 mln before expenses in placing

18th Dec 2009, 10:57 am Xtract Energy raises £1.2 mln before expenses in placing

Energy asset investor Xtract Energy PLC (AIM: XTR) said it has placed 60 million new shares at 2 pence each, raising £1.2 million before expenses. It plans to use the money for working capital purposes.  

Xtract identifies and invests in a diversified portfolio of early stage energy sector technologies and businesses with significant growth potential.

Xtract holds 36.8 percent in Elko Energy Inc which has interests in exploration and production licences in the Danish and Dutch North Sea.

It also holds 34 percent in its Turkish joint venture group Extrem Energy AS, with Merty Energy of Turkey holding the remainder.  Extrem Energy has a portfolio of licence interests including the high potential prospect at Candarli Bay in south-west Turkey.

Zhibek Resources, 25 percent owned by Xtract, is an oil and gas exploration and production company with a 72 percent interest in the Tash Kumyr and Pishkoran exploration licences in the Kyrgyz Republic.

Xtract's wholly owned subsidiary Xtract Oil Ltd 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 tenement 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.

Finally, Xtract Energy (Oil Shale) Morocco SA is a 70:30 joint venture with Alraed Ltd Investment Holding Company WLL, a company controlled by Prince Bandar Bin Mohammed Bin Abdulrahman Al-Saud of Saudi Arabia. XOSM has signed a Memorandum of Understanding with the Moroccan oil and mining ministry regarding the evaluation and possible development of an oil shale deposit near Tarfaya.

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