Altona Energy PLC Joint venture negotiation update (6657N)

TIDMANR

RNS Number : 6657N

Altona Energy PLC

30 July 2014

30 July 2014

Altona Energy Plc

("Altona")

Joint venture negotiation update

Altona (AIM: ANR) today announces that alongside its partners Wintask and Sino-Aus the negotiations over the Arckaringa joint venture agreement are continuing. Altona, Sino-Aus and Wintask recently held constructive talks in Xi'an, People's Republic of China, where the commercial terms of the joint venture agreement were discussed.

Chairman, Michael Zheng commented: "All of the parties had hoped to conclude the joint venture agreement before 31 July 2014 however there is complexity inherent in negotiating an agreement across international jurisdictions for a project of the size and potential of the Arckaringa project. We are continuing to work very hard alongside Wintask and Sino-Aus and thank shareholders for their continued patience and look forward to giving further information in the near future".

For further information, please visit www.altonaenergy.com or contact:

 
Altona Energy Plc 
 Michael Zheng, Chairman                     [phone] 
WH Ireland Ltd 
 Adrian Hadden 
 James Bavister                              [phone] 
Old Park Lane Capital Plc 
 Michael Parnes                              [phone] 
Tavistock Communications 
 Mike Bartlett                               [phone] 
Marlow Communications (Australian media) 
 Stephen Marlow                            [phone] 
 

About Altona

Altona is listed on the London Stock Exchange's AIM market. Its focus is firmly on the evaluation and development of the Company's coal-to-liquids Arckaringa Project to exploit the huge coal resources, equivalent to 7.8 billion barrels, contained in three exploration licences covering 2,500 sq. kms in the northern portion of the Permian Arckaringa Basin in South Australia.

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This information is provided by RNS

The company news service from the London Stock Exchange

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