Cambrian Mining Investment

2 July
2008                                                                                             AIM:
XTR

             Cambrian Mining Investment in Xtract Energy

The Board of Xtract Energy plc ("Xtract" or "the Company") notes  the
announcement made this  morning by Cambrian  Mining Plc  ("Cambrian")
concerning the sale of 36.5 million shares and warrants in Xtract  to
Wasabi Energy Ltd ("Wasabi") and its plans to distribute the majority
of its remaining shares in Xtract to Cambrian shareholders by way  of
a dividend  in  specie.  Cambrian,  together  with  its  wholly-owned
subsidiary,  Cambrian   Investment  Holdings   Ltd,  currently   owns
approximately  369.8   million   shares   in   Xtract   (representing
approximately 50.1% of Xtract's issued share capital).

The Board  of  Xtract  welcomes  the conclusion  of  this  aspect  of
Cambrian's strategic review and believes  that clarity on the  future
of Cambrian's shareholding in Xtract  removes a significant level  of
uncertainty.

Xtract is pleased  to see  Wasabi, an  Australian listed  diversified
energy company, becoming  a key investor.  Xtract and Wasabi  already
have an  established  and  supportive relationship  which  the  Board
intends to continue.  Xtract also welcomes the Cambrian  shareholders
who will shortly  become investors through  the proposed dividend  in
specie.  Xtract  will ensure  that prospective  new shareholders  are
included in the Company's investor relations programme.

The Board of Xtract remains confident that the Company is well placed
to capitalise on the significant growth opportunities present in  its
diversified portfolio, and it  continues to believe  that it has  the
potential to generate strong returns for its shareholders.

Andy Morrison, CEO Xtract Energy plc, commented:

"This morning's announcement  from Cambrian  removes uncertainty  and
provides an opportunity to broaden Xtract's shareholder base. I would
like to welcome both Wasabi and the prospective Cambrian shareholders
to the Company. I believe there is now a real opportunity for new and
existing  shareholders  to  benefit   from  Xtract's  strong   growth
potential."

Further information on Xtract at www.xtractenergy.co.uk.

For further information, please contact:

Xtract Energy plc                  Andy Morrison, CEO             +44
(0) 20 7079 1798

Smith & Williamson              David Jones
[phone]
Corporate Finance Ltd          Azhic Basirov

Scott Harris                           Stephen Scott
        [phone]
                                              Victoria Gräfin
Strawitz


Xtract Energy Plc

Xtract identifies and invests in a diversified portfolio of early
stage energy sector technologies and businesses with very significant
growth potential. We aim to work closely with the associated
management teams to achieve critical project milestones, to finance
later development stages and to build and crystallise value for all
shareholders and partners.

MEO Australia

MEO is focused on developing gas-to-liquids ("GTL") projects in the
Timor Sea Australia, in an area of shallow water known as Tassie
Shoal. It has secured Commonwealth Government environmental approvals
for two large scale (1.8 Mtpa) methanol plants (50 per cent.
interest) and a 3 Mtpa LNG plant (100 per cent. interest) which are
adjacent to the Evans Shoal gas field.

Elko Energy

Elko is an oil & gas exploration company which has an interest in a
5,370km2 exploration and production licence in the Danish North Sea
and an investment in Dragon Energy Inc, a private Canadian company,
with a development project in Gansu Province, China.

Wasabi Energy

Wasabi is a diversified investor in renewable energy and low
greenhouse emission technologies, with interests in geothermal
waste/heat, uranium exploration in Australia's Northern Territory and
biodiesel investments in Victoria.

Central Asian Interests

Xtract's Central Asian interests include a production sharing
agreement with Kyrgyzneftegaz to instigate a water injection project
on the Beshkent- Togap oil field. Xtract also holds nterests in
several exploration licences in the Tash Kumyr area and in the
Toktogul exploration licence.

Oil Shale

Xtract has oil shale and related petroleum product exploration rights
over mining tenements in the Julia Creek area of Queensland and has
recently been granted an exploration permit which gives rights to
explore for oil shale in an area in the South of New Zealand. It is
investigating the commercial production of hydrocarbons (crude oil)
from oil shale.

Xtract is also available for trading on the open market segment of
the Frankfurt Stock Exchange (ticker R9X.FSE).

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