Investment Update

Xtract Energy plc
30 October 2007

30 October 2007                                                         AIM: XTR
                               XTRACT ENERGY PLC

                          ('Xtract' or the 'Company')

                   Increased holding in Wasabi Energy Limited

Xtract announces that it has further increased its holding in Wasabi to
281,511,422 ordinary shares (representing approximately 36.6% of Wasabi's issued
capital) as a result of the exercise of options over 25 million Wasabi shares at
A$0.03 costing A$750,000 in total.

Wasabi is an Australian listed company that is involved in both traditional and
clean energy technologies and businesses. It is a diversified investor with
interests in geothermal waste/heat, uranium exploration and biodiesel.

Wasabi's audited financial statements for the year ended 30 June 2007 showed net
assets of approximately A$2.5 million and a loss before tax for the year of
approximately A$4.3 million.

Enquiries please contact:

Xtract Energy plc              Andy Morrison, CEO      [phone]

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

Scott Harris                   Stephen Scott           [phone]
                               Annabel Michie

For further Information on Xtract please visit www.xtractenergy.co.uk

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 holds 51.5% of issued share capital.

A short description of the principal assets of Xtract (other than Wasabi) 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.

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.

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