Company GTL Resources PLC
TIDM GTL
Headline Gains Australian Funding
Released 07:00 9 Oct 2003
Number 6894Q






RNS Number:6894Q
GTL Resources PLC
09 October 2003

Immediate Release: 07.00am 9 October 2003

GTL Resources PLC ("GTL")

GTL gains Australian Government infrastructure funding of A$35.4 million


The Chairman of GTL Resources PLC has today confirmed the company will proceed
to finalise the construction and financing of a 1million tonne p.a. methanol
plant on the Burrup Peninsula in regional Western Australia.


The decision was confirmed following an offer from the Australian Government to
provide support for vital common use infrastructure for the region. The value of
this investment incentive is up to A$35.4million and is subject to final
documentation.


The GTL project value is in excess of A$700million and will create 600 jobs
during construction and 85 once operational.


"Today marks a new beginning for the Australian methanol industry," said
Chairman, Mr Peter Middleton.


"This project is the primary focus for GTL. It is the right size for Australia
and the right size for the international market," said Mr Middleton.


The company has secured a 15-year sales agreement for 100% of the output.


Australia is uniquely placed to develop methanol with strong reserves of natural
gas and proximity to large markets in Asia.


Construction is expected to begin in Q1 2004. Once operational, the GTL project
is expected to be in the top ten exporters from Western Australia.


GTL is grateful for the support of the Federal Agency, Invest Australia, and the
Western Australian Government in the process to date.


GTL will continue to work closely with both the Federal and State Governments in
delivering this project.

For further information:


London:

GTL Resources PLC
Peter Middleton, Chairman +44 (0)20 7493 3393

Buchanan Communications
Tim Thompson / Catherine Miles +44 (0)20 7466 5000


Australia:


Parker & Partners Public Affairs
Melissa Cheesman +61 (0)414 254 717


Notes to Editor:


GTL Resources plc:


The name GTL Resources plc (GTL) reflects the Company's core activity, which is
the application of technologies for the conversion of stranded natural gas into
marketable liquid products. Gas to Liquids...G-T-L.


GTL Resources plc is a publicly listed company on the Alternative Investment
Market of the London Stock Exchange.


GTL is the sponsor of the project and has created two subsidiary companies
registered in Australia, GTL Holdings Australia Pty Limited, from which the
equity portion of financing will be derived and Liquigaz Pty Ltd, the company
which will manage the project.


Gas to liquids and methanol:


Gas to Liquids is a term encompassing a number of processes, whereby gas
previously without a market can be exploited as a liquid thus creating
commercial value. In our case we are talking about converting gas into methanol.


Australia has the necessary requirements to support the development of a Gas to
Liquids industry; large gas resources, easy access to potential markets and a
low level of country risk.


Methanol is a clear, colourless liquid, a basic chemical building block used to
produce formaldehyde, acetic acid and a variety of other chemical
intermediaries. Methanol is also widely used to make MTBE (methyl tertiary butyl
ether) an additive used in cleaner-burning gasoline. It is used in the
production of plastics and as such has the potential to spawn a plastics
industry.


Methanol is produced from natural gas through a process of steam reforming,
synthesis and distillation.


The project:


The aim of the project is to construct a plant just north of Withnell Bay,
Dampier Western Australia capable of converting stranded gas into methanol. The
plant will be capable of producing approximately one million tonnes of methanol
per year for sale within the Asia market, the fastest growing methanol market in
the world.


The key facts on the project are:


Construction of a A$700million plus, 3,000 tonne/day methanol plant at
Dampier on the Burrup Peninsula, WA;
Production and exports of 1million tonnes per annum valued up to
A$350million;
600 jobs during construction and 85 once operational; and an
Off-take agreement in place already for 100% of the product for 15 years.


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

mbugger - as far as I am aware there will be no change to the company name. It will still be GTL. This 'reverse take-over' isn't what it sounds like. It is only because GTL trades on AIM and under their rules this transaction constitutes a reverse take-over. Something to do with the fact that a smaller company is taking over the majority stock of a much larger company as measured by market capital.

Star/f ,gtl has a small market cap., now what is the new post r t/o market cap estd. to be and projected or expected s.p. on sept. 1-i have not seen any figures, any views.

Star/f,sorry new m/cap is 28.4 million sterling ,in afx.

I.C.share mag have asmallbit about GTL open offer and reccnds o/offer to be taken up at 1.25 pence at 5/4.

Any views on sp. drift towards o offer price1.25, and projected sp. after sept 1 deadline if m/cap goes from about 3 million sterling to about 28.4 million sterling,how many new shares in circulation.

mbugger - started to look at this, but not enough time to get a handle on it yet. Great 5 year chart - for a recovery stock!

1.25p looks tempting, just as a punt, but need to read through the RNS re Illinois River properly before making any moves. Any recent broker notes/recommends out there?

sd

S/DOG,tried to take up o/offer today,but told by s/broker o/offer only available to u.k. residents, therefore o/offer appears to be very restrictive, i have abig holding but res. in ROI. My av. down to 2.9 before o/offer.

money left my sipp today and new shares will be in my account on friday

p+f target for GTL is 5 at the moment

news today

GTL Resources plc ('GTL' or the 'Company') was notified on 7 September 2005 by
British Coal Staff Superannuation Scheme that it is interested in 134,699,071
shares. This represents 5.9 per cent. of the issued share capital of the
Company.

Appears to be 2 seperate RNS,are they the one and same wrt.134m. shares bought,any views Snip

anybody got any thoughts on the recent volume of trades the last few days

A bit late in answering your question dubreekie but my guess is that the increase over the last few days is down to Bush's State of the Union address in which he stated that American society is adicted to oil and too dependant on it and that it was about time that they started to look for alternative energy sources. The president cited Ethanol and Methanol as alternatives to oil and hinted that the US would start actively encouraging the development of industries that produce these fuel alternatives.

Now guess what. GTL are busy developing a huge Ethanol production plant in the US (and have been for some months):

"On 6 September 2005, GTL Resources acquired a controlling interest in Illinois River Energy to build an Ethanol plant at Rochelle Illinois. Construction of the plant commenced on 12 September 2005. It is expected that Ethanol will start being produced in Q4 2006. The site is in a prime location in respect of corn supply and Ethanol marketing.

The companys objective is to benefit from the USA governments legislation of August 2005 that renewable fuel consumption must double to 7.5 billion gallons per annum by 2012."

I've held these boys since Q3 2003, buying in at nearly 11p, and have regularlly bought in on dips to lower my zero return price (I know this goes against the first and second rules of trading, chocolat ;-) but rules are there to be broken!). I'm holding on ethical grounds and for a long term investment. I am up 21% overall already though. Whoopee!

Just in small profit,passed b/e s.p.2.9,right on-starfrog.

Fantastic day up 6 %
does anybody have any news/following this share

thanks
lindos

news is i bought at 10p oVer 2 year ago,giVe me a call in another 7p thanks.

Plant update available at http://www.gtlresources.com/ethanol_projects.htm

Good too see weather has not hindered progress. Roll on Q4

Oily

Now is the time to av. down,lower b/e s.p., hurry Cellby.

whats with todays big buys? two times 5 million seperate trades.

more big trades again today. SP heading north. hmmmm

Taken from ADVFN

mentioned as top tip in FT.com today...link

At the bottom of the page as top tip.

http://news.ft.com/cms/s/f4476108-cc1b-11da-a7bf-0000779e2340.html