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Novera Energy Ltd (NVE)

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Wednesday 04 January, 2006

Novera Energy Ltd


Novera Energy Ltd
03 January 2006

                               ASX/AIM ANNOUNCEMENT

4 January 2006


Novera Energy Limited (ASX & AIM: NVE) announces that the Australian Stock
Exchange Limited (ASX) has granted approval for the removal of Novera's shares
from the Official List of the ASX with effect from 4 April 2006.

The board is positive that this step will enhance shareholder value by aligning
the company's future capital raising activities with its long term European
strategy and business.

Accordingly, the board of directors strongly encourages all shareholders to
transfer their holdings to AIM and to facilitate this the company has appointed
Patersons Securities Limited, Australian brokers, to oversee and manage this
process in a smooth manner (see below).  Patersons will work with each
shareholder individually to effect the transfer.

Please refer to the Company's web site at for further

Reasons for Proposed listing on AIM only

The board of directors considers that it is in the best interests of
shareholders of the Company for the Company to complete its migration from
Australia to the UK.  The last significant step to be taken in this regard is
the delisting of the Company from the ASX so that shares in the Company may only
be traded on the AIM market.  As outlined above, the ASX has given approval for
this to occur with effect from 4 April 2006.

Novera was listed on the ASX in 2002, and in June 2005, the Company was admitted
to the AIM. At present Novera's shares can be traded on both the ASX and AIM.

David Fitzsimmons, Chief Executive of Novera Energy Limited, said: 'The proposed
removal from the ASX reflects the Company's increasingly European focus from
corporate, operational and ownership perspectives. It is also expected that the
majority of the Company's future business will be located in Europe.'

Novera has raised a significant amount of capital from UK investors by way of
share placements in 2005. During the same period it has raised no funds from new
investors in Australia.

After its removal from the Official List of the ASX, the following will apply:

-  The Company will remain incorporated in Australia and subject to Australian 
   law, most notably the Corporations Act.  It will retain a presence in 

-  There will be only limited changes to the manner in which information is 
   disclosed by the Company, with announcements and financial reports released 
   by the Company available from, the Company's 
   website and the Australian Securities and Investments 
   Commission and other financial information sources.

-  Although the Company will no longer be subject to the ASX listing rules, it 
   will continue to be bound by the continuous disclosure requirements of the 
   Corporations Act, and the AIM rules.

-  Financial statements will be prepared under AIFRS as for any other Australian
   public company.

-  Market prices will be available from a number of financial websites, 
   including  Market prices will also be published 
   in the London Financial Times (a newspaper which is available in selected 
   outlets in Australia).

Summary - Company achievements 2005

Having established its joint venture with Macquarie Bank in December 2004, the
Company has worked hard in 2005 to position itself for the next stage of its

In October 2005 the Company appointed John Brown (previous chief executive of
Speedy Hire plc) as Chairman and David Fitzsimmons (previously Group Vice
President and head of BP plc oil trading) as Chief Executive Officer.  Appointed
today, Rory Quinlan is the Company's Chief Financial Officer and he will be
migrating to the UK.

The de-listing is regarded by the board as a significant positive step to allow
the company to focus on its strategy of developing, acquiring and operating a
range of assets in Europe, to grow the Company's portfolio of renewable energy
assets and to enhance shareholder value.

•  Listing on London's Alternative Investment Market (AIM), in June 2005, after 
   raising approximately £5.3 million (A$13 million) through the placement of 
   9.189 million shares at 58 pence (A$1.40) per share.

•  A net profit for the six months to 30 June 2005 of £0.255 million (A$0.617 

•  Receipt in July of a £1.2 million (A$ 2.9 million) cash distribution from 
   Novera Macquarie Renewable Energy Limited ('NMRE').

•  The sale by Novera to NMRE of the Mynydd Clogau 14.5 MW wind farm in Wales.

•  NMRE's acquisition in May of Umwelt Windrad GmbH & Co KG, the owner of two 
   wind farms in Germany, and progress by Novera on wind farm developments in 
   Scotland and northern England.

•  Negotiation of UK government support totalling £5 million (A$11.9 million) 
   for Novera's 10MW East London Sustainable Energy Project.

•  NMRE remains on track to pay a full year distribution of £3.1 million 
   (A$7.6 million).

Trading of Shares on AIM - Facilitation

Australian shareholders will be able to trade shares in the Company through
Patersons, alternatively via a number of other Australian brokers with
relationships with AIM designated brokers. Further, shareholders can contact one
of the members of the London Stock Exchange who are AIM designated brokers who
will be able to facilitate trading of their shares on AIM.

The Company will issue a letter to each registered shareholder detailing the
process by which share trades can be effected on AIM. To assist shareholders in
this process, the Company has entered into an arrangement with Paterson
Securities Limited who have agreed to facilitate the transfer/trading of shares
on AIM.

As set out in the letter to be received by shareholders, the board strongly
encourages shareholders to contact Patersons direct: attention Sandra Burton
((08) 9263 1201,, or Jane Irwin ((08) 9263 1193, and Lachlan Clampett ((02) 8238 6256,

                                    - ENDS -

For further information please contact:

Chief Executive Officer: David Fitzsimmons     +44 (0) 20 7664 7890

Chief Financial Officer: Rory Quinlan          +61 (2) 9240 2700

Westbrook Communications: David Reid           +61 (2) 9231 0922

Gavin Anderson: Ken Cronin / Janine Brewis     +44 (0) 20 7554 1400

Patersons Securities Limited: Sandra Burton    +61 (8) 9263 1201

                              Jane Irwin       +61 (8) 9263 1193

                              Lachlan Clampett +61 (2) 8238 6256

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                            

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