Altona Energy Plc - PEL Application Update
May 16 2017 - 1:00AM
PR Newswire (US)
16 May
2017
Altona Energy Plc
(“Altona” or “the Company”)
PEL Application
Update
Further to the announcement of 28 July
2016, the Company announces that it has been notified by the
Minister for Mineral Resources and Energy for the South Australian
Government that the assets of Linc Energy Ltd, including those of
its wholly-owned subsidiary, SAPEX Limited, have been acquired by
Tri-Star Petroleum Company Inc. (“Tri-Star”). These assets
include Petroleum Exploration Licence Application (“PELA”) 604,
which overlaps Altona’s three Exploration Licences (EL3360, 3361
and 3362) relating to the Arckaringa Project.
The Company is in the process of contacting Tri-Star to
establish its intentions for PELA 604. The Directors cannot
give any assurances as to the outcome of any subsequent
negotiations.
-ends-
For further information, please visit
www.altonaenergy.com or contact:
Altona Energy
plc
Qinfu Zhang, Executive Chairman |
+44 (0)7555 679
245 |
Leander (Financial
PR)
Christian Taylor- Wilkinson |
+44 (0)7795 168
157 |
Northland Capital
Partners Ltd (Nomad and Broker)
Matthew Johnson / Gerry Beaney (Corporate Finance)
John Howes (Corporate Broking)
|
+44 (0)20 3861
6625 |
About Altona
Altona is listed on the London Stock Exchange’s AIM
market. Its principal focus is on the evaluation and
development of the Company’s flagship Arckaringa Project to exploit
the significant coal resources contained in three exploration
licences covering 2,500 sq. kms in the northern portion of the
Permian Arckaringa Basin in South Australia. The Project is
designed to produce syngas products for the Australian market and
export from a resource exceeding 7.8 billion tonnes of coal (1.3
billion tonnes JORC compliant).
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