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

Thanks SB - been looking for you an' all!!!

Only snippet I can find is a bit about concerns over domestic gas and increasingly importing gas, but wouldn't think this would account for rises on GTL today and here is not their market. Dunno.

Thank linzi for information, yeah been holding stock for a while and seen price drop, hopefully will recover abit now.

For you Adie - tho this is jsut a mere drop in the ocean, just enough to treat his bit on the side to a decent break ...

RNS Number:7238R
GTL Resources PLC
05 November 2003

DEALINGS BY A SIGNIFICANT SHAREHOLDER



1) Name of Company



GTL RESOURCES PLC



2) Name of shareholder having a major interest



MR. KEVIN J. ALEXANDER



3) Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest



NOTIFICATION IN RESPECT OF SHAREHOLDER NOTED IN 2 ABOVE



4) Name of the registered holder(s) and, if more than one holder, the number

of shares held by each of them. (If notified)



MR. KEVIN J. ALEXANDER



5) Number of shares disposed of



800,000 ORDINARY SHARES



6) Percentage of issued Class

0.28 %



7) Class of security



ORDINARY 1P SHARES



8) Date(s) of transactions



5 TH NOVEMBER 2003



9) Date company informed



5 TH NOVEMBER 2003



10) Total holding following this notification



MR. ALEXANDER HOLDS 7,950,399 ORDINARY SHARES



11) Total percentage holding of issued class following this notification



2.78%



12) Any additional information



13) Name of contact and telephone number for queries



ROGER HARRIS - 020 7493 3393



14) Name of authorized company official responsible for making this notification



ROGER HARRIS





Date of Notification 5 TH NOVEMBER 2003

Thanks linzi, most helpful, still some way for me to recover my original investment 13p.

Hi AdieH. Are you still holding GTL ? I went in at 8.2p a couple of weeks ago (don't ask me why but I've been advised it'll be worth it !)
However, and it's been on the slide ever since. Just wondered if you or anyone else was holding GTL and what you think will happen to the shares and when.

I don't know how accurate this is but someone said that there should be some news flow druing April ? :(

Just a GUESS as I know nothing about it other than they convert gas to liquid
and they think there will be market for it.Such a new idea is bound to take
time to take off so perhaps it will be a great winner for Long Term Holders.

rgds aj

At Last ! some good-ish news that is having some positive on the share price,(now up nearly a penny today.) Lets hope the share price continues in a northly direction when the markets recover in a day or two ! Say 12-15p for starters ? and higher when the financing arrangements get released :)

skyhigh

I have been watching this stock for ages
What is the good news?
jal

There is no good news. First news since November which everybody was waiting for so everybody gets excited. I've been watching this stock for ages also. Still could not put timescale on when contract would be signed......5 months have passed since November. I would expect the price to slip back if no news is forthcoming over the next month. At the right price jump on because this will go places......sometime this year.

OK, you're all right ! There is no good news ! Price has gone down a 1/4p already today. I believe it will come good in the end so will continue to hold (on back burner!).... :(

Yeah do hold if you can, I think this will be a little gem and not many people know about it......If contracts are signed and more news about a possible middle east project maybe 20p + by the year end.....or do you think I am optimistic. Any buys below 7p is a bargain. I would not be surprised if there is no news for the next 1/2 months and the price will slip back down. If not I'll sell my methane to them!!

are gtl staying low because of rumours of new things happing at the company

this week ? ?

New deal announced today. Construction of a methane plant in Oman. Sp rising (with some strange buying patterns). Have been monitoring this one for a few months now. Was going to top up if it got down as low as 5p. Missed that opportunity!

Looks like some MM activity in todays trades. All the 'unknown trades' are priced exactly at 6p.

GTL will be presenting at the 'GTLtec 2004' conference in Doha (Qatar) on 1dec04 (4-4.30pm local time). Peter Middleton will be giving an update on GTL's project in Oman... Might generate a bit more interest, simply by reaching a wider audience. But it would be good to get some more details at the same time. Exposure at this sort of event, concerning what is a very trendy technical area at the moment, could prove a very effective tool at smoothing out any sticking points there might be in the financing of GTL's Salalah project.

see the following article for the importance of Gas to Liquid Technology:

http://www.falklandnews.com/public/story.cfm?get=2997&source=2

COLIN PHIPPS TALKS OF RISING FALKLANDS OIL PROSPECTS



A Report for BBC World Service Calling the Falklands by Deborah Vogle (DV) 09 NOV 2004



The high price of oil at the moment is worrying economists and city analysts here in London, as they fear it might push up the general level of inflation. Last month prices reached a record high at $55.00 a barrel. Now they are down to just under $50.00 still very high. So, the long awaited results of the latest exploration in the Falklands could be encouraging. The seismic survey carried out by Desire Petroleum in the North Falkland Basin is the second, which has been done in the area but this time it was a 3D seismic survey rather than a 2Dimentional one. And that, according to Dr. Colin Phipps (CP) Chairman of Desire, produces a far more accurate picture. So what. I asked him, did the picture show?



CP: The whole purpose of the 3Ds was that we had already ascertained from exploratory drilling that we had a very rich source rock in the North Falkland Basin. The most important thing was to find out whether and where a reservoir had developed. And, the thing about 3D is it does enable you to take out vertical latitudes. I wont go into it in detail but you are able to manipulate 3D data to indicate the likelihood or otherwise of there being reservoirs. They also have direct hydrocarbon indicators that the possibility of a seismic response, which doesnt actually tell you theres oil and gas but its indicative of oil and gas and we have looked at those as well. The results of the 3D survey have been that we have been able to identify the development of reservoir rocks. And, there are also oil and gas direct hydrocarbon indicators. The gas one is particularly interesting now because, when we first drilled gas was at a price, which never would have been economic to develop in the Falklands. But at current gas prices, even gas would be economic, so it adds a further dimension to the potential of the basin.



DV: How exactly would that be used?



CP: The Gas would have to be brought on shore and it would be subject to what is known as Gas to Liquid Technology (GLT), which effectively turns gas into diesel oil. And, its very high quality diesel, which you can put in your Land Rover straight away and drive off with it. And, there is something of a premium attached with it. And, that is one of the reasons of this gas to liquid technology that has made a lot of remote gas fields much more potentially profitable than in the past. Its a relatively new technology.



DV: So, can you put a figure on the likely output of this area?



CP: Its very hard to say. The number of prospects that we have identified is quite large six to ten. The potential of the prospects and let me be clear, potential doesnt mean to say that there is oil there or gas there of that size. But the potential is for discoveries up to a billion barrels in size. A billion barrels is a giant field in world terms.



DV: This is potentially very exciting news. Or is the stock market responding to it?



CP: Today Desire share price went up from 28 yesterday to 37.5 at the moment. But it jumps about a bit and in the end, the stock market reaction is only going to be justified by drilling and finding some oil.



DV: But it is a good time. You mentioned the gas price being good but also the oil price is good.



CP: The oil price is sensational at the moment. I dont believe it could stay up there but most of the economics that we have done on the North Falkland Basin have been on the level of $16.00 oil or $20.00 oil. Of course, today, we are looking at the high $40s. So it would be extremely possible, really, to find something. But even at $25.00 oil, its very profitable.



DV: So, whats the next step then?



CP: We really have to make a decision as to whether or not we are going to farm out these other partners. We are talking to a number of companies who are looking at the 3D data now that its been completed. Or, of course, we have to consider whether or not we should raise money in the market ourselves. The market is very strong at the moment and a lot of our shareholders are saying that they would like us to that. We have some decisions to make over the next sort of month or so as to what is going to be the best route for shareholders to take. One way or another, what we are hoping to do is to drill sometime next year.

This share is clearly under-valued given the strategic future of the oil and gas industry - just think about it - you have all these oil and gas companies finding GAS as well as oil and there is going to be a premium on technologies that can package the GAS as a more convenient and shippable product - not all gas fields can be hooked directly into their distribution networks - DYOR

Anyone fancy a punt @ 4.75, seems over sold? Two M/M buys today..

Price dropped quite a bit yesterday for no apparent reason. They had their AGM on 17 Nov but haven't posted the results of this yet, which is also a bit suspicious. I searched all over the web yesterday trying to find any news items - but there wern't any. So no explanation.

However in my serach I did notice one thing. A lot of older news stories were predicting methanol production in Australia to commence toward the end of this year. Currently, as I understand it, they haven't even begun developing the Australian site. So it looks as though they are a long way behind schedule. But the potential is huge.

Thanks -StarFrog for your input, like you say huge porential, one to watch..