Xtract Energy - looking for oil in shale. Feasible and cost effective? Anyone in these at present?

Activities homeElko EnergyExtrem EnergyZhibek ResourcesOil ShaleActivitiesActivities Overview
The principal assets of Xtract are its holdings in Elko Energy Inc, Extrem Energy A.S., Zhibek Resources Ltd and Oil Shale deposits in Queensland, Australia.

Elko Energy Inc. ('Elko')

Elko is a Canadian registered oil & gas exploration company which has interests in exploration and production in the Danish and Dutch North Sea. Its major asset in the Danish North Sea is a 33% working interest in exploration and production license 02/05 and the adjoining exploration and production license 01/11, close to the prolific Central Graben oil kitchen. Technical work indicates the potential for significant resources on these combined licenses. Elko also holds a royalty interest in gas-bearing license blocks P1 and P2 in the Dutch North Sea. Xtract owns approximately 50% of Elko's issued share capital.

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 license interests onshore and offshore Turkey. Xtract owns 50% of the issued share capital of Extrem Energy.

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 exploration licenses in the Kyrgyz Republic. Xtract has entered a farm-out agreement to fund a seismic and drilling program for 2008 - 2011. 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.

All assets are held directly or through wholly owned subsidiaries of the Company.

The Directors evaluate new investment opportunities from time to time and may engage the Company in additional projects in the energy resources sector where qualified projects are identified.

Highlights
Financial Highlights

Cash position at 30 June 2010 of 6.87m.
Elko ownership increased to approximately 50%.
Extrem ownership increased to 50%.



7th June 2011



AIM: XTR



XTRACT ENERGY PLC

("Xtract" or the "Company")



Investment Update



Oil Shale



Xtract is pleased to announce that it has contracted Worley Parsons to provide a technical study on the various technologies which are being used or developed around the world to extract hydrocarbons from oil shale, as applicable for the exploitation of the Julia Creek tenements in Queensland, Australia and other oil shale resources. Worley Parsons is an Australian based company and is a leading provider of professional services to resource and energy sector companies and complex process industries



The study, which will be conducted in incremental stages, is anticipated to be complete towards the end of 2011. The study will assist Xtract to review the commercial options available for the exploitation of it's oil shale resources, to make such developments attractive to potential commercial partners, as well as creating a bankable project.



Further updates regarding this study will be provided as appropriate.



Peter Moir



Qualified Person

Great rns will make this company if Julia creek comes off, 2.1 billion barrels of oil.

Have you kept hold of these bb, they look good

I've had these as a baby.....had them so long they're almost a teenager now......whats a bit longer lol.,.

They will make you a rich man (as long as you have more then 1) I cannot say when.

you don't have crystal balls then???.,.

No,golden. Lol

Last Friday White Candlestick has given a new positive trend on the chart

Seems to be a large seller in the back ground holding us back. Several 250,000 gone through. Not you bb is it?

With due thanks and acknowledgement to Mr Euclid;

http://oilbarrel.com/news/an-independent-prospective-oil-resource-report-for-asx-listed-tangiers-petroleum-confirms-significant-potential-new-prospects-in-its-tarfaya-block-in-morocco

An Independent Prospective Oil Resource Report For ASX Listed Tangiers Petroleum Confirms Significant Potential New Prospects In Its Tarfaya Block In Morocco

We have remarked before that as hydrocarbon acreage in Australia is tightly held generally and as what you might call elephant prospects are not thick on the ground or easily accessible in the sea surrounding that vast country, many small companies like to obtain some bread and butter stuff in Oz, then look abroad for assets which could give real uplift.

One such company is ASX listed Tangiers Petroleum. The former IT shell DVM International has set up some modest projects in places like the Cooper Basin in Central Australia and the Bonaparte Gulf in waters between Northern Territory and Western Australia and has bagged a high impact opportunity in Morocco.

These Aussie assets could provide cash flow in the near term but the real potential company maker is the acreage in Morocco. More than 12 months ago TPT announced the acquisition of a 75 per cent working interest and operatorship of the Tarfaya offshore Block, Morocco (hence the name change to Tangiers Petroleum). The project covers 8 individual contiguous blocks with a gross area of 15,041 sq km, situated in shallow waters with a maximum water depth of around 1,000 km

The prospect is for multiple established targets but the acreage, which is between Morocco and the Canary Islands, is under-explored with only 4 wells drilled to date. Established infrastructure is present onshore and a number of active exploration programmes in the surrounding districts provide comfort that companies can undertake large exploration and development programmes in the region. The Cap Juby oil field is a 100 million barrel discovery located 23 km east of the permit. Moreover, Morocco offers some of the most favourable fiscal terms in the industry, which could add to the value of every barrel of oil discovered

Tangiers present partner in the venture is state company ONHYM, whose 25 per cent stake will be free carried through the exploration phase. The potential resource could be huge. Tangiers reckoned in April 2010 defined structures could have the possibility to contain 1 billion barrels of oil-in-place. On this basis last April Australian broker Strachan Corporate said the company, which had seen its share price double over the previous six months from 3 cents (A$0.03) to 8 cents (A$0.08), but felt there could a lot more value in the portfolio and gave Morocco a risked valuation target of 26 cents per share from exploration.

The company is still a long way from drilling anything, but the shares have done better than 26 cents, rising at one point in January 2011 to 35 cents (A$0.35). They have fallen back now to 20 cents (A$20) probably because there has been a lack of news flow. It does take a long time for a minnow like Tangiers to get to drilling even though it has announced it is actively seeking a farm in partner partners to help with the estimated US$20 to US$30 million price tag.

Now, there has been a fresh development which could help lift shares again in that a new report talks of significant new prospects and leads in the Tarfaya Block. World wide petroleum consultants Netherland Sewell and Associates have conducted an independent evaluation of the prospective oil resources for four Upper,Middle and Lower Jurassic carbonate prospects (Trident, TMA, Assaka, and La Dam ) in the Tarfaya Block. This evaluation has validated the oil potential in these prospects with combined best gross (100 per cent) estimates of un-risked prospective resources of 867 million barrels of oil and a high side case of 4,959 barrels of oil. The low side case is 156 million barrels of oil. NSAIs combined estimate of original oil-in-place for the four prospects is: Gross (100 per cent) undiscovered OOIP, Low Estimate 1,564 million barrels of oil, BestEstimate 4,355 million barrels and High Estimate 12,399 million barrels.

Tangiers is presenting evaluating the prospectivity of the Top Jurassic interval from which new prospects Zeus and Little Zeus have emerged as well as the shallower Cretaceous intervals. Multiple additional seismic leads have been identified with early assessment indicates the Cretaceous intervals may contain similar prospective resources as the Jurassic intervals. NSAI will be engaged to produce an independent dent evaluation of prospective resources for Zeus/Little Zeus and the Cretaceous leads. A data room is open to promote a farm-out of the Tarfaya project and expedite the Tarfaya exploration effort. Tangiers expects to drill at least one well in 2012

Meanwhile, the projects in Australia provide Tangiers with a pipeline of opportunities outside of the large Moroccan acreage. Block ATP-587-P is in the Eromanga Basin which in turn is underlain by the Cooper Basin in central Australian Tangiers holds a 100 per cent interest in the licence. The company has mapped two modest sized oil projects and one deep gas prospect, Braidwood.

The companys first well in Eromanga/Cooper will be the Iriculla-2 prospect. Production in the region comes from multiple reservoirs of Jurassic age, but the oil is considered to have migrated from Permian source rocks belonging to the underlying Cooper Basin. Iriculla-2 will be a follow up to the Iriculla-1 well which was drilled on ATP-587-P on the wrong side of a reverse fault which exhibited oil shows on the downthrown side. The company believes there is a strong possibility of an accumulation of hydrocarbons on the up-thrown side of the fault.The company is currently soliciting farm in partners.

Also TPT won rights to 90 per cent of the Turtle and Barnett oilfields in the shallow parts of the Bonaparte Gulf. The fields were discovered in the mid-1980s. On test, discoveries produced between 792 and 920 bopd of heavy oil. The fields are thought to contain P50 reserves of 40 million barrels of oil recoverable.

These fields have been left fallow because of their perceived isolation and modest size but recent developments in the area, not to mention the improved oil price has changed the dynamics. The project will require further appraisal work, however, to discover whether these heavy barrels can de extracted in an economic way. TPT plans to undertake engineering studies and field design in 2011 as well reprocessing seismic. It then plans two exploration wells in 2012 one each in the Turtle and Barnett oil fields.

re 174, this is in the same area as our shale oil deposit. Could be huge .

Nice to see the share rise 8.38% on low volume. Getting noticed now.

MEDIA
RELEASE (with thanks to bnzi on LSE)
7 June 2011
QER Opens Visitor Centre
People interested in the development of Queenslands rich oil shale deposits can now learn first-hand about the new
processing plant operated by QER, following the opening of a Visitor Centre at the companys New Fuels Development
Centre at 375 Landing Road, Yarwun.
QERs CEO and Managing Director, Pearce Bowman, said the Visitor Centre represents an important element in
ensuring the community is kept up-to-date about QERs plans and activities.
The Visitor Centre will not only explain to people what QER is doing, but how we are doing it and, importantly, why
Australia needs these resources to be developed if this country is to address its current and worsening oil supply
shortfall, Mr Bowman said. The static displays and touch screen technology we have developed will allow visitors to
learn more about why oil is so important to our everyday life as well as learn in detail about our oil shale technology
demonstration plant and view high quality animations of the plant.
The Visitor Centre not only provides comprehensive but easy to understand information on our project, it will also serve
as a venue for the local community to provide us with the feedback we need to ensure our operations and activities meet
community expectations and needs, he said.
Once operational, the technology demonstration plant will highlight the Paraho IITM technology QER has chosen for the
processing of Queensland oil shale, and follows five years of testing and operations of a Paraho

pilot plant at Rifle, in
Colorado, USA.
The Visitor Centre will be open to the public from 9:00am to 4:30pm Monday to Friday, and from 12:30pm to 4.00pm on
weekends and most public holidays. In addition to the physical Visitor Centre, QER has developed a virtual visitor centre
web site at www.qervisitorcentre.com.au.
For further information please contact:
John Hewitt
Media and Communications Manager
Mobile: 0448 819 205
Email: jhewitt@qer.com.au
Ph: (07) 3222 0686
Fax: (07) 3222 0611
QER
Established in 2004, Queensland Energy Resources Limited is a privately owned, integrated resource and energy
company based in Australia. The company holds custodial mining and other tenement rights to several of the largest and
potentially most productive oil shale deposits in Australia. These deposits contain an oil production potential more than
twice the size of the Bass Strait, which is the largest oil field discovered in Australia to date. For further
information, we encourage you to visit the QER website at www.qer.com.au

Xtract Energy seeks to acquire Elko Energy
StockMarketWire.com
Xract Energy, whose shares have been suspended on AIM, has offered to acquire the remaining share capital of Elko Energy Inc for new ordinary shares in Xtract.

There will be no cash consideration and, in line with the AIM rules, Xtract's shares will be suspended during the transaction.

On completion of the transaction, the company will no longer be an investing company and will apply for re-admission to AIM as an operating company.

The offer is to acquire all of the issued and outstanding common stock in Elko Energy that Xtract does not already own, for new ordinary shares in Xtract, on the basis of seven Xtract shares for every Elko share. Presently Elko has 100,010,049 common shares in issue of which 49,975,000 are owned by Xtract.

Peter Moir, Chief Executive of Xtract Energy, commented: "We have focused our time on rebalancing the asset portfolio of the company and the acquisition of Elko is the logical next step in this process. Xtract has a clear vision and solid strategy to create a platform for sustainable growth with significant near term operational upside potential for shareholders. The Board looks forward to completion of the acquisition and the re-admission of Xtract as an operating company on AIM."

Xtract Entergy shares suspended ahead of Elko takeover
http://www.stockopedia.co.uk/content/xtract-entergy-shares-suspended-ahead-of-elko-takeover-57504/
Tuesday, Jun 21 2011 by Stockopedia News

Shares in AIM quoted oil and gas investor Xtract Energy(LON:XTR) were suspended from trading this morning ahead of a reverse takeover involving the companys main subsidiary, Elko Energy Inc. Xtract has offered to buy Elko outright in a move that will transform it from an investing company to one focused on operations. Once the deal has completed Xtract will resume trading on AIM.

The all-share deal will see Xtract issue seven of its own shares for every single Elko share. Presently Elko has 100,010,049 common shares in issue of which 49,975,000 are owned by Xtract. The transaction requires shareholder approval although it is understood that Xtract has already received commitments to vote in favour of the acquisition from the directors of Elko who own Elko common shares and major shareholders, together representing 66.4% of the shares in issue. Last year the Xtract board was substantially restructured, with Peter Moir, the president and chief executive of Elko, appointed CEO in July and in October, Alan Hume, the CFO of Elko, joining as group finance director.

Peter Moir said: We have focused our time on rebalancing the asset portfolio of the company and the acquisition of Elko is the logical next step in this process. Xtract has a clear vision and solid strategy to create a platform for sustainable growth with significant near term operational upside potential for shareholders. The board looks forward to completion of the acquisition and the re-admission of Xtract as an operating company on AIM.

Elko has interests in exploration and production licences in the Danish and Dutch North Sea. Its major asset in the Danish North Sea is a 33% working interest in an exploration and production licence 02/05 and a 33% working interest an adjoining exploration and production license 01/11, close to the prolific Central Graben oil kitchen. Technical work indicates the potential for significant resources on these combined licenses. Elko also holds a royalty interest in gas-bearing license blocks P1 and P2 in the Dutch North Sea.

Apart from Elko, Xtract also holds interests in Extrem Energy in Turkey, Zhibek Resources in the Kyrgyz Republic, an oil subsidiary in Australia and an oil shale joint venture in Morocco.
--------------------------------------------------------------------------------

Just hope this starts trading well before the two drills. Will be keeping my golden tickets safe. If this gamble comes off, could be huge.

Print Thursday 23 June, 2011Xtract Energy plc
Investment Update
RNS Number : 9514I
Xtract Energy plc
23 June 2011



23 June 2011



AIM: XTR



XTRACT ENERGY PLC

("Xtract" or the "Company")



Investment Update



Xtract Energy Plc ("Xtract") notes below the Shareholder Update which was issued by Elko Energy Inc. ("Elko") to its shareholders on Wednesday 22nd June 2011:



Elko Energy Inc. ('Elko') is pleased to provide this further business development update.



Business Update



Denmark



Elko announced on May 4, 2011, that the Luna well will be drilled by the 'Maersk Resolve' jack up drilling unit. The rig had been secured by Noreco, the license operator, under a letter of intent. At that date the rig was expected to be available for Luna in mid August 2011 but this date could be a few weeks earlier or later. Elko has been advised today by Noreco that the rig contract has now been signed for the Maersk Resolve and that the rig is now anticipated to arrive on the Luna location in the second half of September 2011.



The Maersk Resolve is currently drilling on contract to Maersk Oil and Gas in Denmark. As such the Maersk Resolve is coming to the 01/11 partnership drill ready, a short mobilization distance from the Luna prospect location and already fully accredited by the Danish authorities for drilling operations in Denmark. The Luna drilling program is expected to take about 1 month duration.



As previously announced the 01/11 partners intend the 'Luna' well to test the overall Rotliegendes play concept. The Luna prospect is located in a small half graben with the pinch out edge to the south east of the structure. The Rotliegendes reservoir is thought to have a high probability of being present at this location based on the seismic interpretation. Uncertainty still exists however on which seismic event represents the top reservoir and where the pinch out occurs.



In addition to the uncertainty on the pinch out position, there is a possibility that the Rotliegendes does not, in fact, pinch out but continues up dip into Lead A. It is therefore possible that Luna and Lead A are connected and represent one feature. The current well location which targets the Luna prospect was picked in order to maximize the information gathered by the well and is designed to address this uncertainty.



Further updates regarding the drilling of this well will be provided as appropriate.



Peter Moir

President

June 22, 2011"

-Ends-











Qualified Person



In accordance with AIM Guidelines, Peter Moir, B.Sc. Civil Engineering, M.Eng. Petroleum Engineering, UK Chartered Engineer, President of Elko Energy Inc. and CEO of Xtract Energy plc is the qualified person as defined in the Guidance Notes for Mining, Oil and Gas Companies, February 2010, of the London Stock Exchange, that has reviewed the technical information contained in this press release. Mr Moir has more than 30 years experience in technical, operational and commercial aspects of the E&P business.



Enquiries please contact:



Xtract Energy Plc
Peter Moir, CEO

Alan Hume FD


+44 (0)137 237 1071 +44 (0) 137 237 1071

Cenkos Securities Plc
Jon Fitzpatrick

Alan Stewart
+44 (0)207 397 8900

+44 (0)131 220 9771



Financial Dynamics
Billy Clegg

Edward Westropp

Alex Beagley
+44 (0)207 831 3113




About Xtract

Xtract identifies and invests in a portfolio of early stage oil and gas assets and business interests with significant growth potential. The Company aims to work closely with the associated management teams to achieve critical project milestones, to finance early stage asset and business development activity, and then to finance the asset development phase, or if appropriate to crystallise value for all shareholders at a suitable exit point. Xtract aims to achieve returns for our shareholders through access to the significant upside rewards associated with our investments.



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")



Following execution of heads of terms it is anticipated that in the near term Xtract will enter into a fully termed Assignment Agreement and associated Royalty Agreement pursuant to which Xtract will hold a royalty interest over the license portfolio currently owned by Extrem Energy, onshore and offshore Turkey.



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 in the Danish North Sea is a 33% working interest in an exploration and production licence 02/05 and a 33% working interest in an adjoining exploration and production licence 01/11, close to the prolific Central Graben oil kitchen. Technical work indicates the potential for significant resources on these combined licenses. Neither of those licences is currently being produced and accordingly no profits are attributable to them. Elko also holds a royalty interest in gas-bearing license blocks P1 and P2 in the Dutch North Sea. Xtract currently owns approximately 50% 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 exploration licence in the Kyrgyz Republic. Xtract has entered a farm-out agreement to fund a seismic and drilling programme for 2008-2011. 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.






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

END

share is suspended