Sale of Holding in Equus Mining Limited

RNS Number : 0049Y

Xtract Energy plc

15 February 2013

 



15 February 2013

XTRACT ENERGY PLC

("Xtract" or the "Company")

Sale of Holding in Equus Mining Limited

Xtract (AIM: XTR) announces that on 14 February 2013 the Company disposed of its entire holding in Equus Mining Limited ("Equus").  The Company's 14 million shares in Equus were sold at a price of 7 Australian cents per share, resulting in a gross consideration of AUS$ 980,000 before dealing costs.

Xtract originally received 140 million shares in Caspian Oil & Gas Limited, an Australian listed company which has since changed its name to Equus Mining Limited following a 10 to 1 share consolidation.  The shares in Equus were classified by the Company as an asset held-for-sale and were originally acquired on 3 May 2012 when an agreement was signed with Santos International Holdings ("Santos") releasing Santos from certain funding obligations which formed part of the original Farm-in Subscription Agreements executed between Santos and Xtract.

Enquiries please contact:

Xtract Energy Plc	Colin Bird, Executive Chairman Peter Moir, CEO	[phone] [phone]
Cenkos Securities Plc	Jon Fitzpatrick Alan Stewart	[phone] [phone]
Gable Communications	Justine James	[phone]

 

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