Investment Update

21 September 2009

AIM: XTR

                          XTRACT ENERGY PLC
                     ("Xtract" or the "Company")

                  Investment Update - Extrem Energy


Xtract Energy  Plc ("Xtract")  is pleased  to provide  the  following
update on operations at its Turkish joint venture Extrem Energy  A.S.
("Extrem Energy") in connection with  the re-entry and completion  of
the Alasehir-1 well on the Alasehir licence area.

The required drilling equipment  mentioned in the announcement  dated
27 August 2009  was received and  the rig was  mobilised to the  well
site, arriving on station on 17 September. The well was re-entered on
19 September. During operations,  flammable gas from the  perforation
intervals made  during former  operations in  1999 was  observed  and
burned at the surface. Today, it is planned that those zones will  be
sealed by a bridge plug.  After their isolation CBL-VDL logging  will
be undertaken to check the  integrity of the pre-existing casing  and
the cement bond.  Depending on the  results of the  logs, some  minor
repairs to the  casing will be  carried out. Once  this is  complete,
perforation and flow testing will commence.

According to the  work programme, five  intervals have been  selected
for testing ranging in depth from  1573m to 1802m. If commercial  oil
flow rates are confirmed, Extrem Energy intends to combine production
with that planned from Sarikiz-2  well, using the surface  facilities
that are being prepared at that site. The Sarikiz-2 site is  expected
to become the hub  for development of both  the Alasehir and  Sarikiz
oil fields.  The  total  duration  of  production  testing  and  well
completion is estimated to be 30 days.

An estimate of the total oil in  place in the Alasehir field will  be
made following the production test.

Further updates will be provided as appropriate.

The above  information  has  been  reviewed  and  approved  by  Ongun
Yoldemir, Managing  Director  of Extrem  Energy,  who has  a  masters
degree in geological engineering and  worked as an explorationist  in
the oil and gas  sector in the  Middle East, Kazakhstan,  Azerbaijan,
and North Sea,  has over  28 years'  experience in  the resource  and
energy sector  and  is  a  member  of  the  American  Association  of
Petroleum  Geologists,   European  Association   of  Geologists   and
Engineers, the  Society  of  Exploration  Geophysicists  and  several
related Turkish institutions.

Enquiries please contact:


Xtract Energy      Andy Morrison, CEO [phone]

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



About Xtract Energy

Xtract identifies and  invests in  a diversified  portfolio of  early
stage energy  sector  technologies and  businesses  with  significant
growth  potential.  The  Company  aims  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.

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

A short description  of the  principal assets  of Xtract  is set  out
below. These assets are either held directly or through wholly  owned
subsidiaries of the Company.

Extrem Energy AS ("Extrem Energy")

Extrem Energy is  an exploration  and production  joint venture  with
Merty Energy of Turkey. The JV's aim is to create a new  medium-sized
oil and gas exploration and production business, initially focused on
Turkey where Merty  Energy has particular  experience and  expertise.
Extrem Energy has a portfolio of licence interests including the high
potential prospect at Candarli Bay in south-west Turkey. Xtract  owns
34% of the issued share capital of Extrem Energy.

Elko Energy Inc. ("Elko")

Elko is a Canadian registered oil & gas exploration company which has
interests in exploration  and production licences  in the Danish  and
Dutch North Sea. Its major asset is  in the Danish North Sea; an  80%
interest on  26 offshore  blocks in  a 5,400  sq km  exploration  and
production licence close  to the prolific  Central Graben oil  field.
Technical work indicates the potential for significant reserves. Elko
also holds a 60% operating interest in gas-bearing license blocks  P1
and P2 in  the Dutch North  Sea. Xtract owns  approximately 35.0%  of
Elko's issued share capital.

Zhibek Resources Ltd ("Zhibek Resources")

Zhibek Resources is an oil and gas exploration and production company
which has a 72% interest in the Tash Kumyr and Pishkoran  exploration
licences in  the  Kyrgyz  Republic. Xtract  has  entered  a  farm-out
agreement to  fund  a seismic  and  drilling programme  for  2008-09.
Xtract owns 25.0% of the issued share capital of Zhibek Resources.

Xtract Oil Ltd ("XOL")

Xtract's wholly owned subsidiary, XOL, is focused on the  development
of the Company's oil shale resources in Australia and the  technology
for oil extraction  from oil  shale resources. Xtract  has oil  shale
exploration rights over mining tenements  in the Julia Creek area  of
Queensland. In addition to  evaluating third party technologies,  XOL
has  been  developing  proprietary  technology  for  the   commercial
extraction of liquid hydrocarbon products from oil shale.

Xtract Energy (Oil Shale) Morocco SA ("XOSM")

XOSM is  a  joint  venture with  Alraed  Limited  Investment  Holding
Company WLL, a company controlled by His Highness, Prince Bandar  Bin
Mohd. Bin  Abdulrahman Al-Saud  of Saudi  Arabia. XOSM  has signed  a
Memorandum  of   Understanding   with   the   Office   National   des
Hydrocarbures et  des  Mines  for  the  purposes  of  evaluation  and
possible development of  an oil  shale deposit near  Tarfaya, in  the
south west part of Morocco. Xtract  currently holds 70% of the  joint
venture.

Wasabi Energy Ltd ("Wasabi")

Wasabi (ASX:  WAS)  is  a diversified  investor  in  traditional  and
renewable energy  technologies. Amongst  its listed  assets it  holds
approximately 38%  of Rum  Jungle Uranium  Ltd (ASX:  RUM) which  has
interests in uranium exploration licenses  covering some 4,150 sq  km
of  Australia's  Northern  Territory   and  approximately  12.5%   of
Greenearth Energy Ltd  (ASX:GER) which  aims to  explore and  develop
geothermal resources in Australia and  the wider Pacific Rim.  Xtract
owns approximately 2.9% of the issued share capital of Wasabi.

---END OF MESSAGE---




This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.