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

http://hugin.info/138447/R/1589828/499354.pdf

Lets hope for some news next week, sp not risen pre the two drill results.

news well over due now. 50/50 I would guess

Wait and see for the drill result. Up 11% . Still 50?50

Operational Update
RNS
RNS Number : 5374Z
Xtract Energy plc
16 March 2012



16th March 2012



AIM: XTR



XTRACT ENERGY PLC

("Xtract" or the "Company")



Operational Update



Xtract Energy PLC makes the following operational update.





Denmark



Drilling of the Luna prospect on the 01/11 license is about to be completed.



The Luna well objective was to test the overall Rotliegendes play concept over licences 01/11 and 02/05. The Luna well location was picked in order to maximize the information gathered by the well and was designed to address a number of play uncertainties. The Luna well did not encounter hydrocarbons. The extensive new data obtained from drilling the Luna well will be analysed and integrated into the overall Rotliegendes play model covering the two licence areas.



Xtract has a 33 percent interest in licence 01/11, through it's wholly owned subsidiary Elko Energy A/S. Noreco is the operator for the licence with Danish North Sea Fund as the other partner.





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.

duster sp down 30%+

I think investors can gather that from above

mitzy are you in this heap of s*** too.....

Signs of life....?

Things have been happening for the last few weeks :

Jan Nelson appointed CEO last wek, preluding to changes on the direction of the company

Soon an IPO at GOS, were XTR have a stake ( Julia Creek ).

Rising with some large trades, volume reaches 23 millions

They've managed to attract some pretty impressive people to the board with a sound track record. That wouldnt happen without a reason.

With Global and Chevron in the background a complete reshuffle and diveristy to portfolio, this is going places. All looking very positive

Fingers crossed - it's been a long, slow and tortuous journey Southwards over the years.

They have a plan once they get rid of the bulk of Julia Creek..too messy that stuff. Let them tell us!

With JLP RNS today, is the 'plan' for XTR to take on some of PLA's licences in SA?
XTR say they are moving away from the oil business to becomes a resources-based outfit. Colin Bird and his African expertise would make it a strong possibility in my mind. XTR re-launched/re-nranded, with new management, as a SA mining co!?

The last couple days the shares are moving up and down but the chart is showing there is support at 0.21p, were buyers are nibbling at this prices.

Today on a very down market the shares are now up

Things are going on the right direction today, 2 MMs already went up on the bid side with 0.22p



money am, maybe do not like charts from other places but accuracy is paramount, not 0.23p on 4 day chart, not 0.24p on 1 month chart but 0.235p on the intraday is right

And today the stock has gone places 0.31p, one of the top 3 risers

Xtract Resources embarks on new venture in Chile

Xtract Resources has signed a Heads of Agreement ('HOA') to enter into a proposed joint venture ('JV') with Polar Star Mining Corporation on the Mejillones Phosphate and Uranium Property in Chile.

Upon completion of certain technical work and capital expenditure from existing cash resources, Xtract will have the right to earn-in up to 75% of the Property, which covers approximately 16,400 hectares, with the potential to buy the remaining 25% stake from Polar Star.

This transaction marks the first step to of a new strategy adopted by the Board to invest in resource assets with near-term production capability and significant growth potential.

Focus will be on assets which are relatively straightforward to evaluate with low entry cost and located in more favorable mining jurisdictions

Jan Nelson, CEO of Xtract commented that; "In line with Xtract's new strategy, the Board has chosen to invest in resource assets near or at surface, on the low end of the cash cost curve that can be brought into production in less than 24 months to realise cash-flow and yield significant upside potential.

"The Property provides us with such an opportunity without any initial dilution to shareholders. We have assembled a small but very strong technical team to define the economic potential of the deposit."