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

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."

with prices likely to go down the pan doesn't seem a very good decision.

Some fools not holding posting nonesence as usual, I have seen this above on other places.

large volume and share price moving accordingly

Volume and rising today after being lower recently
the support line gets higher all the time

A RNS earlier on ......

Xtract Resources plc MoU on Gold & Copper Project in Chile

Exclusive Agreement to conduct due diligence and option to acquire 100% of the Chépica Gold and Copper Mine together with 100% of Mejillones Phosphate Property in Chile
Xtract Resources Plc (AIM: XTR) has signed a Memorandum of Understanding ('MOU') with Polar Star Mining Corporation ('Polar Star') which provides an exclusive four month period for further due diligence and an option to acquire Minera Polar (the 'Project'), which has an earn-in agreement on the Chépica gold and copper mine and the Mejillones Phosphate project in Chile.

Summary
-- Xtract has agreed to pay Polar Star US$250,000 which provides an exclusive four month option to conduct due diligence on Chépica ("Exclusivity fee").
-- Polar Star, via a 100% owned Barbados subsidiary, owns 100% of the Chilean company Minera Polar, which in turn has an earn-in agreement on Chépica, a gold and copper producing mine ('Chépica'), located 300km south of Santiago, Chile.
-- Polar Star, via a 100% owned Barbados subsidiary, Polar Star (Barbados) Limited, also owns 100% of the Mejillones Phosphate project ('Mejillones'), located near the city of Antofagasta in Northern Chile.
-- Chépica is an operating gold and copper mine with good cash flow potential. --

Mejillones is a phosphate development project covering 15,800 hectares with initial technical reports indicating the potential to delineate 60 to 200Mt of phosphate upgradeable to over 25% P205.
-- Should the Company elect to enter into a definitive agreement for the acquisition of Chépica from Polar Star, the previous JV agreement on Mejillones will be replaced and Xtract will own 100% of the project.

Jan Nelson, CEO commented: "Having outlined the strategy to focus on precious and base metal opportunities that could deliver near term production and cash flow, the Board believes the Chépica gold and copper mine could represent a major step in achieving our stated strategy. The Board intends to use the four month exclusivity period to review the operational and financial viability of the mine which is located in one of the more favorable mining investment regimes in the world. Should our due diligence prove successful, our primary focus would be on financing and developing the mining operation, however, the phosphate deposit represents additional upside that can be exploited through JV partners. I look forward to providing an update to shareholders in due course."

Chépica
Located 300km south of Santiago, Chile, Chépica is an operating gold and copper mine. Polar Star owns 100% of Minera Polar, which holds the rights to the Chépica property, through an earn-in agreement.
Mejillones
The Property covers approximately 15,800 hectares of a prospective phosphate deposit in Chile which is close to surface. Previous reports on the Property estimate the potential of approximately 60-200 million tonnes of open pit sedimentary phosphate with a concentrate grade of +25% P2O5 post upgrading. This will have to be confirmed upon future exploration work. The Property is within 15km of a major port accessible by paved roads.

Option Agreement
The MOU grants Xtract an exclusive right to conduct due diligence on the Project, and upon completion thereof, if the due diligence results are satisfactory to Xtract, to acquire the Sale Interest from Polar Star's interest in the Chépica property.
Xtract will pay Polar Star US$250,000 in cash ("Exclusivity Fee"). Polar Star agrees to utilise the Exclusivity Fee solely for the purpose of advancing this to Minera Polar, which will utilise the cash solely for purposes of discharging its obligations under the Earn-In Agreement.

At any time prior to the end of the Option period, should Xtract wish to purchase Chépica, it will give notice of its intention to do so and will commence negotiations on the terms of a definitive sale agreement.
Related Party
Colin Bird is a director of both Polar Star and Xtract and therefore deemed a related party under AIM Rule 4 for Companies. As a result Mr. Bird recused himself from any involvement, discussion or review process. With the exception of Mr. Bird, the directors of Xtract consider, having consulted with its nominated advisor, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

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http://www.investegate.co.uk/xtract-resources-plc--xtr-/rns/final-results/201406030700096543I/

It's all looking good. high speculative but lots of news due...mid tier company in the making in the coming month! dyor

movements lately