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Epic & Msn data
Epic XTR
Time: 11:44:19
Mid Price: 2.40
Change Today: 0.03 Ascending
Change % Today: 1.05 Ascending
Fifty Two Week High: 4.80
Fifty Two Week Low: 0.60
Market Capital: 19.80
Period & price data
Period Price
Now: 2.40
3 Months ago:
6 Months ago:
1 Year ago:
Additional information
Additional Information
Market: AIM
Sector: Energy
Epic: XTR
News: Latest news
Web Site: Xtract Energy
Other Articles: 12-01-201011-01-201008-01-2010

Crude Oil

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%).

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Monday, September 21, 2009

Xtract’s JV Extrem Energy preparing Alasehir-1 well in Turkey for production test

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Xtract Energy PLC (AIM: XTR) said its Turkish joint venture group Extrem Energy AS, in which it holds 34 percent, has re-entered the Alasehir-1 well on the Alasehir licence area and is currently preparing it for perforation and flow testing.

Five intervals have been selected for testing, ranging in depth from 1,573 to 1,802 metres. If commercial oil flow rates are confirmed, Extrem Energy intends to combine production with that planned from Sarikiz-2 well, using the surface facilities that are being prepared at that site.

The Sarikiz-2 site is expected to become the hub for development of both the Alasehir and Sarikiz oil fields.  Production testing and well completion, once the work has begun, is estimated to be 30 days. An estimate of the total oil in place in the Alasehir field will be made following the production test.

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

Apart from its holding in Extrem Energy, an exploration and production joint venture with
Merty Energy of Turkey, Xtract holds 25 percent in Zhibek Resources, an oil and gas E&P company with a 72 percent interest in the Tash Kumyr and Pishkoran exploration licences in the Kyrgyz Republic.

It further controls approximately 35 percent of Elko Energy Inc, a Canadian group with interests in exploration and production licences in the Danish and Dutch North Sea.

Wholly-owned subsidiary Xtract Oil Ltd is focused on the development of Xtract’s oil shale resources in Australia and the technology for oil extraction from oil shale resources.

It holds 70 percent of Xtract Energy (Oil Shale) Morocco SA, a joint venture with Alraed Ltd Investment Holding Co WLL, a company controlled by a Saudi prince. The venture has an MoU with the government regarding evaluation and possible development of an oil shale deposit near Tarfaya, in the south west of the country.

Following several disposals over the last few months of stock in Wasabi Energy Ltd, an investor in traditional and renewable energy technologies, Xtract retains approximately 2.9 percent of Wasabi.

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