Investment update - Amend

Xtract Energy plc 29 February 2008 The following replaces the investment update announcement released at 12.31 today under RNS Number 0740P. A comment from the CEO of Xtract Energy plc has been added to the announcement. 29 February 2008 AIM: XTR XTRACT ENERGY PLC Award of Offshore Dutch Exploration License to Elko Energy Inc Xtract Energy plc ('Xtract') is pleased to refer shareholders to the following announcement by Elko Energy Inc ('Elko'). Xtract currently holds approximately 33.8 million common shares in Elko, representing approximately 35.2% of the total issued capital. 'February 29 2008. ELKO ENERGY AWARDED EXPLORATION BLOCK IN DUTCH NORTH SEA Elko Energy Inc ('Elko'), a private oil exploration and development company, is pleased to announce that the Dutch authorities have awarded a consortium, of which Elko is the operator with 55% interest, a 6 year licence to explore a North Sea block known as P2. In early 2007, Elko applied for adjacent license blocks P1 and P2 in the Dutch North Sea. Offshore block P1 was awarded in June 2007 and P2 on February 21 2008. A number of Rotliegendes gas bearing structures containing an estimated 700 BCF hydrocarbon gas have been confirmed on blocks P1 and P2 through the drilling of 16 exploration wells and 3-D seismic. Work has been started to appraise and develop these gas accumulations.' Andy Morrison, CEO of Xtract, commented: 'This is a significant development for Elko and further evidence of its capabilities in securing good quality Dutch North Sea assets. Through its major shareholding in Elko, Xtract offers investors immediate exposure to this otherwise unlisted opportunity'. Further information on Elko can be found at www.elkoenergy.com. As a private company, Elko is not subject to the AIM Rules and this information has not been reviewed by a named 'qualified person' as defined and required by the AIM Guidance Note for Mining, Oil and Gas companies. Enquiries please contact: Xtract Energy plc Andy Morrison, CEO +44 (0) 20 7079 1798 Smith & Williamson Corporate David Jones +44 (0) 20 7131 4000 Finance Ltd Azhic Basirov Scott Harris Stephen Scott +44 (0) 20 7653 0030 Annabel Michie For further Information on Xtract please visit www.xtractenergy.co.uk About Elko Energy Inc Elko Energy Inc ('Elko') is a Canadian oil and gas exploration company formed in 2005. Elko has an 80 per cent interest in a 5,370 km2 exploration and production license in close proximity to the prolific Central Graben in the Danish North Sea. The licence covers 26 Danish licence blocks with a 6 year exploration term and 30 years for exploitation. Elko is an approved offshore operator in Denmark and has set up a Danish subsidiary to hold the licence. The current partnership is Elko (80%) and Nordsoen - a Danish government entity (20%). In early 2007, Elko applied for two off-shore blocks in the Dutch sector of the North Sea, both of which contain a number of drilled and tested gas bearing structures. Block P1 has now been awarded to a consortium in which Elko will be the operator and will retain 33% interest. The award of adjacent Block P2 was announced in early 2008 with Elko retaining operatorship and a 55% interest. In addition to its exploration assets, Elko owns 51% of Dragon Energy Inc. ('Dragon'), a private Canadian company. Dragon's principal assets are a 30% share of the producing Kotaneelee gas field in Canada and a joint venture in respect of the Maling oil field in Gansu province, China. About 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. Xtract is supported by its cornerstone investor, Cambrian Mining Plc (AIM:CBM) a diversified resource investment house which, together with its wholly owned subsidiary Cambrian Investment Holdings Ltd, holds approximately 50.1% of the issued share capital of the Company. A short description of the principal assets of Xtract (other than Elko Energy) is set out below. These assets are either held directly or through wholly owned subsidiaries of the Company. 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. 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 interests 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). This information is provided by RNS The company news service from the London Stock Exchange
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