Altona Resources Plc / Index: AIM / Epic: ANR / Sector: Exploration
& Production
30th June 2008
Altona Resources Plc (?Altona? or ?the
Company?)
Intention to List on Australian Securities
Exchange and
Tranche 3 Tongjiang Placing
Altona Resources Plc, the AIM listed Australian based energy company,
announces its intention to list on the Australian Securities Exchange (?ASX?)
in Q4 2008, subject to market conditions. Leading Australian stockbroker
and financial advisory firm Bell Potter Securities Limited (?Bell Potter?) will
advise Altona on the proposed listing on the ASX.
The Company has agreed with major investor Tongjiang International
Energy Co. Ltd (?Tongjiang?) that completion of Tranche 3 of the share
subscription agreement which was due to be completed by June 30th
will be deferred, and may constitute part of the proposed ASX listing.
The Company will provide further details in respect of the deferment of the
completion of Tranche 3 in due course.
Altona Chairman Chris Lambert
said, ?Given the geographic location of the Arckaringa Coal to Liquids and
Power Project in South Australia,
it has been our intention for some time to list on the ASX. With the
Company now proceeding to the final stage of the Bankable Feasibility study for
Arckaringa and favourable market dynamics for the energy sector, we believe the
time is now right to move to a proposed dual listing. We believe an ASX
listing will facilitate expanded investor awareness and understanding of the
exciting potential of Arckaringa, in what is the Project?s home territory.?
* * 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) 203 206 7204
|
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