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

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.?

Today's trading 160000 sold nearly 3000000 bought and sp drops. How ridiculous is that. However last night there were 5000000 sold at the end. Is this the start of Cambrian offloading their holdings? The sp could be down today so that mm's can shift stocks that they have and the future supply from Cambrian if they are selling. Bearing in mind XTR'S holdings in MEO are worth 2.28p per share then nearly everthing else is thrown in for free. Absolute bargain as far as I'm conserned. IMHO DYOR.

Another mark down, must be CBM overhang to clear. If it gets too cheap, i.e. free, I'll buy the lot, haha. Keep a look out for an absolute bargain.

IMHO, sub 2p.

I agree oilyrag. Far too cheap at these levels.

I suspect the same is happening here as on RIFT this morning. Buying below the mid at 2.38p.

Topped up this am, with testing results imminent could hit 4p+? Most trades being reported as sells more likely to be buys imv?
cyril

Looking at the trades one would believe that almost all were sells, when brokers are offering 500,000 at 2.3p. IMV we have constant buying as it should be remembered that EK is putting a VALUE of 10P and is purchasing.
cyril

22 June 2009

AIM: XTR

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

INVESTMENT UPDATE - Extrem Energy

Further to the announcement made on 18 May 2009, Xtract Energy Plc
("Xtract") is pleased to provide the following update on the
operations of its Turkish joint venture Extrem Energy A.S. ("Extrem
Energy").

Sarikiz-2 Production Test

The Production Test is continuing.

The sandstone interval between 1741m and 1746m was perforated on
Friday 19th June at 21.02 hours and oil was recovered to the surface
in the early hours of Saturday 20th June. In addition to oil, the
initial flow contained muds and fluids used in the drilling and
testing procedures. The flow testing procedure was continuing at
0600hours on Monday 22nd June and is expected to go on for 2 more
days to establish a steady oil flow and understand the possible production performance and system. Following this procedure, the
interval will be isolated to test the next zone.

A further 7 intervals at depths between 1545m and 1733m remain to be
tested, representing a further 47m, compared with the 5m in this
interval. Whilst not all intervals may perform to the same level,
there is clearly potential to exceed the pre-test production
estimate. Completion of the production test is expected to take up to
another 15 days.

Prior to the testing of the 1741-1746m layer, both shallower and
deeper intervals had been tested without positive commercial result.
The information gleaned from those tests was used to refine the
interpretation of well data and to determine the remaining test
sequence.

Further progress updates will be provided as appropriate.

All operations are controlled and operated by Merty Energy, Xtract's
joint venture partner in Extrem Energy.

Xtract currently holds 20% of Extrem Energy and has the option of
increasing its shareholding to 34% by contributing a further
investment of US$3.5m before 30 June 2009.

The above information has been reviewed and approved by Ongun
Yoldemir, Managing Director of Extrem Energy, who has a masters
degree in geological engineering and worked as an explorationist in
the oil and gas sector in the Middle East, Kazakhstan, Azerbaijan,
and North Sea, has over 28 years' experience in the resource and
energy sector and is a member of the American Association of
Petroleum Geologists, European Association of Geologists and
Engineers, the Society of Exploration Geophysicists and several
related Turkish institutions.

Enquiries please contact:


Xtract Energy Andy Morrison, CEO +44 (0)20 3205 1148

Smith & Williamson David Jones +44 (0)20 7131 4000
Corporate Finance Azhic Basirov

Scott Harris Ian Middleton +44 (0)20 7653 0030
James O'Shaughnessy


About Xtract Energy

Xtract identifies and invests in a diversified portfolio of early
stage energy sector technologies and businesses with significant
growth potential. The Company aims to work closely with the
associated management teams to achieve critical project milestones,
to finance later development stages, and to build and crystallise
value for all shareholders and partners.

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.

MEO Australia Ltd ("MEO")

MEO (ASX: MEO) aims to become an integrated Australian Gas-to-Liquids
("GTL") company. In 2008, MEO made significant gas discoveries in the
Australian Timor Sea, in an area of shallow water known as Tassie
Shoal. Early commercialisation of these discoveries is planned
through construction of Liquified Natural Gas ("LNG") and Methanol
plants and export terminals on the off-shore Tassie Shoal. MEO has
already secured Australian Government environmental approvals for two
large scale (1.8 Mtpa) methanol plants and a 3 Mtpa LNG plant on
Tassie Shoal. Xtract owns approximately 6.0% of MEO's issued share
capital.

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 is in the Danish North Sea; an 80%
interest on 26 offshore blocks in a 5,400 sq km exploration and
production licence close to the prolific Central Graben oil field.
Technical work indicates the potential for significant reserves. Elko
also holds a 60% operating interest in gas-bearing license blocks P1
and P2 in the Dutch North Sea. Xtract owns approximately 35.0% 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 licence interests including the high
potential prospect at Candarli Bay in south-west Turkey. Xtract owns
20% of the issued share capital of Extrem Energy and has the option
of increasing its shareholding to 34% before 30 June 2009.

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.

Wasabi Energy Ltd ("Wasabi")

Wasabi (ASX: WAS) is a diversified investor in traditional and
renewable energy technologies. Amongst its listed assets it holds
approximately 38% of Rum Jungle Uranium Ltd (ASX: RUM) which has
interests in uranium exploration licenses covering some 4,150 sq km
of Australia's Northern Territory and approximately 12.5% of
Greenearth Energy Ltd (ASX:GER) which aims to explore and develop
geothermal resources in Australia and the wider Pacific Rim. Xtract
owns approximately 17.4% of the issued share capital of Wasabi.

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 and Pishkoran exploration
licences in the Kyrgyz Republic. Xtract has entered a farm-out
agreement to fund a seismic and drilling programme for 2008-09.
Xtract owns 25.0% of the issued share capital of Zhibek Resources.

---END OF MESSAGE---




This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.

Comment from Evil's Diaries:-

10/6/09

"On XTRACT ENERGY ( XTR ), still 2.3p to buy, I was yesterday asked whether the target price is changed. It may be in some investors' minds but not in mine.

I simply do not know what to suggest but at least 10p seems all too feasible on the Turkish oil play alone. There is overhang from the winding down of the RAB and Lehmans holdings but that should not concern the reasonable investor. Indeed, it could be regarded as a plus point in the sense of explaining why Xtract is so low.

Further, some fear that Cambrian's merger with Western Canadian will see CBM's holding of Xtract unloaded. Au contraire, I see Xtract's position strengthened."

"I have watched Xtract Energy (XTR) drift back until the temptation grew too much. So I bought another 1m at 2.25p. Besides, I smell Turkish coffee on the way. Or is that Turkish delight? "