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 remaining stake in Wasabi Energy, raises Elko Energy holding
Xtract Energy PLC (AIM: XTR) said it has sold the remaining 2,9 percent stake it held in 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 said today it exchanged its remaining holdings in Wasabi for a total of approximately £65,000 in cash plus 1.775 million shares in Elko Energy Inc.
Xtract no longer holds any interest in Wasabi and has increased its holding in Elko to 36.775 million shares, representing approximately 36.8 percent of the issued capital of that company.
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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21/09/09 Xtract’s JV Extrem Energy preparing Alasehir-1 well in Turkey for production test
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14/09/09 Xtract Energy sells most of its stake in Wasabi Energy, retains 2.9 pct
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