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

Ever since I put the chart in the sp has fallen. Perhaps I should take it out!

The price has fallen because the last placing ammounts to a dilution, also the joint venture with Petrofac reduces the potential profits for XTR. The price will drift a bit and only rise on news or if the market feels that its gone too low. Hard to say how low it may go, but at the moment I can only see a downward trend. IMO. DYOR.

We have had no update on ex-COIL's or XTR's assetts for months now, so PI's can only base their investment decisions on one tangible stake MEO. With directors of MEO taking the opportunity to take some profit on their shares, I am surprised in one way that the MEO share price has not fallen that much, however considering what they have, very valuable landing rights and a high impact drill near term, I cannot see it falling very far. DYOR

Rodders

Cheers both. Watch & wait then.

What with MEO's PX going up up up and away we are surely going to follow suit!!!! The rig is now in place in Darwin......let the drilling commence and let the pounds roll in!!!!!!!!! Fill your boots!!!!

More revenue due in for XTR if they launch an IPO for Elko..see RNS today.
I think we'll see it happen in about three months, maybe early New Year.

Things do seem to be coming together nicely at the moment - and let's hope those aren't famous last words!

Xtract Energy is pleased to note the announcement by investee company MEO Australia Limited ('MEO') advising that the Heron-2 well was spudded on Friday 12 October 2007 in Exploration Permit NT/P68. Xtract is the largest shareholder in MEO holding approximately 21.3% of the issued capital.

The permit is owned by MEO (90%) and Petrofac Energy Developments Oceania Ltd. (10%). MEO operates the permit.

The planned total depth of the Heron-2 well is 4,300 metres below the seafloor. Depending on the results of Heron-2, the permit partners plan to drill Heron-3, which is designed as a horizontal well through a zone anticipated to be highly fractured in the Darwin Formation, to test well deliverability.

Xtract Energy said MEO Australia Ltd, in which the company holds 21.3 pct, has secured a 60 pct participating interest in three exploration permits on the Northwest Shelf, offshore Australia. The permits offer scope for many prospective oil and gas leads, and MEO said the acquisition offers the opportunity to significantly broaden the scope of its current upstream interests.

MEO has farmed into the permits operated by Cue Energy Resources Ltd through its North West Shelf Exploration Pty Ltd unit.

Xtract said MEO has become operator for each permit and will meet the modest seismic acquisition obligations. In any of these permits, if MEO decides to fund 100 pct of the cost of a single well, a 70 pct interest will have been earned. The MEO interest in that permit would remain at 60 pct, if the existing permit holders elect to pay 10 pct of the cost of a single well in any permit.

Drilling is likely to occur in 2009 in permits where MEO decides to fund the cost of a well, Xtract said. MEO is currently drilling the Heron-2 well in exploration permit NT/P68 in the Timor Sea.

Serius buying today. News may be forthcoming at EGM.

On the move again today good volume drilling results due before Christmas.

Increased resources estimate published today re Julia Creek Oil Shale.

Looks good to me but WDIK; these oilers are slippery! PDYOR, etc.

Xtract Energy plc - Investment Update
RNS Number:4867L
Xtract Energy plc
10 January 2008

10 January 2008 AIM: XTR

XTRACT ENERGY PLC
('Xtract' or the 'Company')

INVESTMENT UPDATE - OIL SHALE

Xtract Energy Plc ('Xtract') is pleased to provide an update to investors on its
programme to develop and exploit the significant oil shale resources of its
wholly owned Australian subsidiary, Xtract Oil Ltd.

Xtract's proprietary oil shale technology is directed towards improving economic
and environmental performance compared with 'traditional' technologies.

Recent milestones that have been reached include:

*A supplementary drilling programme was completed in Julia Creek, the
Queensland Australia concession area, in 2007. A review of the new data in
conjunction with existing data has been carried out by independent
geologists Nolan and Associates Pty Ltd. The total indicated and inferred
resources have been assessed as 2.12 billion barrels of oil in situ*,
comprising 240 million barrels of indicated resources and 1,875 million
barrels of inferred resources.

*The revised resource statement represents an increase of over 150%
compared with the previously declared figure of 825 million barrels.

*Advanced autoclave equipment designed to scale up the batch size for
testing and development of Xtract's proprietary technology was commissioned
on Monash University campus in November 2007. Samples of the resulting
liquid hydrocarbons for distillation curve analysis are now with analytical
laboratories.

*Based upon the technology and resource developments and product material
supplied, Worley Parsons, a leading Australian-based international project
services supplier, will shortly begin expert work to evaluate the technical
and commercial feasibility of the project.

Xtract has commenced the design of a small scale continuous reactor and,
following further testing and the completion of the feasibility study, it is
intended to file a provisional patent application for the process. Early
indications are that Xtract's proprietary technology could double the yield of
liquid hydrocarbons from oil shale and achieve superior environmental
performance compared with the traditional retorting methods**.

If successful, the technology could unlock oil shale resources beyond Australia.
In addition to ultimately seeking licence opportunities, Xtract is active in
seeking out additional oil shale resources with a current focus on North Africa.
Further announcements will follow as appropriate.

The mining and production of refinery feed-stock crude oil represents a
potentially significant and valuable source of hydrocarbon to help satisfy
future international energy demands. Oil prices are expected to continue to
provide good support to project economics.

*Based on the internationally recognised Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves (The JORC Code - 2004
Edition.)

**Compared with the traditional retorting methods assumed for JORC calculations
above.

and a nice rise on the news, too: XTR Bid: 5.75p Offer: 6.5p Change: 1

Yes a better day today after some recent sp drift. Let's hope it can base at 6p and make its way up from there.

Meo abandons well and markets slate sp, even when no value had been added in, in the first place. Correction overdone in my view, could be looked on as a buying opportunity. DYOR.

Have I lost the plot? 1million shares sold out of 734million in existance and the price drops 40%. Thats absolute bo--ocks in anyones book.

It's a crazy day all round today and all resources companies are taking a battering on the fear of reduced future demand. But I agree oilyrag, today's drop is ridiculous.

anyone got anything to say about this stock recently?

No, it's very quiet at the moment mark.

At 11:10 today, how can you sell 0 shares for 3.5p.?