Xtract Energy
XTRACT ENERGY PLC (‘Xtract’) identifies and invests in a diversified portfolio of early stage energy sector technologies and businesses with very significant growth potential. The company works closely with its management teams to achieve critical project milestones, to finance later development stages and to build and crystallise value for all shareholders and partners.
The principal assets of Xtract Energy are its holdings in MEO Australia (ASX: MEO)(11.6%), Elko Energy Inc (35.4%), Extrem Energy (20%), Xtract Oil (100%), Xtract Energy Oil Shales (70%), Wasabi Energy (19.4%) and Zhibek Resources (25%).
Xtract Energy sells most of its stake in Wasabi Energy, retains 2.9 pct
Xtract Energy PLC (AIM: XTR) sold most of its stake in its investee company Wasabi Energy Ltd (ASX: WAS), in line with its policy to increase focus on its oil and gas assets to build a portfolio with near term production combined with significant longer term potential.
It announced today that last week it sold 126.55 million Wasabi shares for A$1.39 million, reducing its holding to 2.9 percent from 12.6 percent.
Wasabi invests in traditional and renewable energy technologies.
Other Xtract Energy articles
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01/12/09 Xtract Energy says Sarikiz-3 drilling to start before end of December
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19/03/09 Xtract Energy: moving closer to production
Other Xtract Energy news
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20/01/10 Xtract Energy says Sarikiz-2 oil well flows in line with expectations, to hit full pumped volumes by end of Q1
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12/01/10 Xtract Energy chief executive ups stake in the company
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11/01/10 Xtract Energy JV Extrem spuds Sarikiz-3 well, expects Sarikiz-2 production this week
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08/01/10 Xtract Energy buys Oakville Capital stake in Elko to take shareholding to 50.01%
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18/12/09 Xtract Energy raises £1.2 mln before expenses in placing
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16/11/09 Xtract Energy reshuffles portfolio to focus on most promising investments
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12/11/09 Xtract Energy affiliate Elko identifies North Sea prospect with potential 375 million barrels of oil
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06/11/09 Xtract Energy’s Turkish JV Extrem moves on after Alasehir-1 well testing mired by problems
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24/09/09 Xtract Energy sells remaining stake in Wasabi Energy, raises Elko Energy holding
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21/09/09 Xtract’s JV Extrem Energy preparing Alasehir-1 well in Turkey for production test
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