Altona Resources Plc / Index: AIM / Epic: ANR / Sector: Exploration
& Production
22 July 2008
Altona Resources Plc (?Altona? or ?the
Company?)
Extension of Memorandum of Understanding with
BP Australia Pty Ltd
Altona Resources Plc, the AIM listed Australian based energy company,
announces that its Memorandum of Understanding (?MOU?) with BP Australia Pty
Ltd has been extended to 30 June 2009. The MOU is a non-binding agreement
to work together in evaluating the development opportunities for Altona?s
Arckaringa Coal to Liquids (?CTL?) and Power project in South
Australia. The non-binding MOU includes the
evaluation of CTL developments and market potential for CTL fuel products.
**ENDS**
For further information visit www.altonaresources.com or
please contact:
Christopher Lambert
|
Chairman
|
Tel: +44 (0) 207 024 8391
|
Christopher Schrape
|
Managing Director
|
Tel: +61 (0) 417 984 434
|
Hugh Oram
|
Nabarro Wells & Co. Ltd
|
Tel: +44 (0) 207 634 4705
|
Alastair Stratton
|
Matrix Corporate Capital LLP
|
Tel: +44 (0) 207 925 3300
|
Victoria Thomas
|
St Brides Media & Finance Ltd
|
Tel: +44 (0) 207 236 1177
|
Notes to Editors:
About Altona
Altona Resources Plc is an Australian based energy Company that was
admitted to trading on AIM in March 2005. Altona's primary focus is the
completion of a bankable feasibility study for its wholly owned Arckaringa
Project for an integrated 10 million barrel per year Coal to Liquid ('CTL')
plant with a 560 MW co-generation power facility.
The Company holds, through its wholly owned subsidiary Arckaringa Energy
Pty Ltd, a 100% interest in three exploration licences covering 2,500 sq. kms
in the northern portion of the Permian Arckaringa
Basin in South
Australia. These include three coal deposits, Westfield
(EL3360), Wintinna (EL3361) and Murloocoppie (EL3362). All three lie close to
the Adelaide to Darwin
railway and the Stuart Highway.
Containing more than 7.5 billion tonnes of coal (based on previous JORC
standards) these coal deposits are effectively one of the world's largest
undeveloped energy banks, capable of conversion into clean liquid fuels, low
cost power and high value industrial feedstocks.
About Coal-to-Liquids (also see www.altonaresources.com)
CTL is a proven technology which converts coal into more environmentally
clean and manageable energy sources including gas and synthetic fuels. The
process involves two major stages, gasification to produce synthetic gas
("Syngas") rich in hydrogen and carbon, and a liquefication stage
where the Syngas is reacted over a catalyst to produce high quality, ultraclean
synthetic fuels and chemical feedstocks.
CTL is a prime example of clean coal technology - the associated
combined cycle units produce negligible sulphur oxides, significantly less
nitrogen oxides and 10 - 20% less CO2 per unit of power generated than a
conventional coal fired plant, whilst carbon capture and storage offers the
potential to reduce the overall greenhouse gas emissions from CTL to below the
"well to wheel" level of fuels derived from crude oil.
The technology is best demonstrated in South
Africa, where currently 30% of the country's
gasoline and diesel fuel needs are met through CTL plants
Victoria Thomas
St Brides Media & Finance Ltd
Chaucer House
38 Bow Lane
London EC4M 9AY
T: +44 (0) 207 236 1177 | M: +44 (0) 7866 705 793 |
F: +44 (0) 207 236 1188 | www.sbmf.co.uk
***** Please note change
of address *****