Altona
Resources Plc / Index: AIM / Epic: ANR / Sector: Exploration & Production
20 February
2008
Altona Resources Plc
(“Altona” or “the Company”)
In
Negotiations for Significant Share Placement
Altona Resources plc
(“Altona”), the Australian based energy company, is in negotiations
with a potential new Chinese investor which, if successful, would lead to the
issue of a significant number of new ordinary shares for cash. This would
provide the Company with a substantial part of the funding required to carry
out a bankable feasibility study on its Ackaringa coal-to-liquids and co-power
generation project. The negotiations commenced in January and the new shares
would be issued at a price no greater than 4.85p per share. Altona will
provide further information in due course.
***ENDS***
For further information
visit www.altonaresources.com or
please contact:
Christopher Lambert Chairman +44
(0) 207 024 8391
Christopher Schrape Managing
Director +61
(0) 417 984 434
Hugh Oram Nabarro
Wells & Co Limited +44
(0) 207 710 7400
Alastair Stratton Matrix
Corporate Capital LLP +44
(0) 207 925 3300
Hugo de Salis St
Brides Media & Finance +44
(0) 207 242 4477
Notes
to Editors:
About
Altona
Altona Resources Plc is
an Australian based energy Company that listed on the AIM market of London
Stock Exchange 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
equivalent standards of the time) 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.
Isabel Crossley
St
Brides Media & Finance Ltd
38 Bow Lane
London EC4M 9AY
Tel:
020 7236 1177
Fax:
020 7236 1188
Mobile: 07968 782 695
Email:
isabel@sbmf.co.uk
Web: www.sbmf.co.uk
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