Stmnt re Dominion Energy PLC

RNS Number:4521I
Startup Station PLC 
14 August 2001

                              STARTUP STATION PLC

                             Dominion Energy PLC,

                        Fund raising and move to OFEX


The Company's subsidiary Dominion Energy PLC ("Dominion"), with producing oil
and gas assets in the USA, is now raising #1.5 million via a private placing.



Dominion intends to use up to #500,000 of funds raised in the placing to
further optimise existing oil and gas leases in Kansas, USA.  These assets
were recently valued independently at US$11 million.  The remaining funds are
for working capital purposes and to fund expenses associated with developing
oil and gas opportunities that have been identified in Turkmenistan and Iran.



Christows Capital Limited is acting as Corporate Advisor to Dominion and on
completion of the fundraising Dominion intends to obtain an OFEX trading
facility. Assuming full subscription under the placing at 8 pence per share
the number of Ordinary Shares in issue will be 94,915,738 representing a
market capitalization of #7.6 million.



                                                              14th August 2001



For further information please contact:



Masoud Alikhani, Acting Chairman, Startup Station PLC
Tel: [phone]


Robert Stubbs, Director, Dominion Energy PLC
Tel: [phone]


Adrian Lithgow, Lehmann Communications Plc
Tel: [phone]


Copies of the Private Placement Memorandum are available from the Companies
registered address.


NOTES FOR EDITORS

Background:



Dominion Energy is an innovative British oil and gas company which has
operated 20 oil wells in Kansas since 1994.



The company has now identified exciting opportunities in oil and gas in
Turkmenistan and Iran. Because of its excellent contacts and experience of
operating in those areas Dominion Energy is ideally place to realise them.



Both Turkmenistan and Iran are viewed as 'trophy' markets by major energy
companies. Iran, in particular, is opening up to greater Western involvement
in its energy sector and Dominion Energy is at the forefront of developments
there.  Its directors are experts on both countries and are available for
interview.





DIRECTORS PROFILE





Henk Harmen Jelsma, MBA, aged 55, Chief Executive.

Mr Jelsma, is a Dutch geologist who speaks six languages and has twenty-four
years of diversified worldwide financial and operational experience in the
petroleum industry. Between 1970 and 1979 he was a geologist in various
countries, including Iran. In 1979 he founded the NL industries Training
Centre in Houston Texas where he remained until 1982. Between 1982 and 1983 he
was Latin American Area Operations Manager for NL Sperry-Sun before moving to
NL Logging systems as General Manager. In 1985, following the integration of
NL Logging and NL Sperry-Sun, he became their Latin American Operations
Manager. In 1989 whilst remaining as a board member and international director
on the Sperry Board, he founded and became general director of the first
Russian-based service joint venture vehicle. In 1993 he became Senior Vice
President and Technical Director of Texneft-USA a subsidiary of Seagull Energy
Corp and a partner of the Russian joint venture Tatex. He is the holder of
several patents in the energy field.





Masoud Amir Alikhani, aged 59, Director.

Mr Alikhani is a British National who was born in Iran. Before 1979 he had
extensive interests in the oil services sector in Iran including establishing
Marine Oil Services Ltd, which was the leading offshore oil drilling service
company operating in Iranian offshore fields in the Persian Gulf. He was also
a director of a subsidiary of Dresser Industries Inc, and a consultant to AMF
Tubescope in Iran which was involved in pipe inspection services. Following
the Iranian revolution in 1979, he became a self-employed businessman before
working in a variety of senior investment roles in Prudential Bache and
Shearson Lehman Brothers. Since 1989 he has been Chairman of Swan Overseas Plc
and between 1993 and 1998 was Chief Executive of Middlesex Holdings Plc, an
international company which operated predominantly in Russia and the other CIS
countries in steel, non ferrous metals, financial services, energy and
agribusiness.







DOMINION ENERGY - KEY FACTS



*         Currently a subsidiary of AIM listed Startup Station PLC.

*         Dominion's principal activity is the development of existing oil and
          gas fields in the USA.

*         There are now attractive opportunities for the Company to expand and
          capitalize on projects that have been identified in Iran and          
          Turkmenistan. These projects could provide significant growth for the 
          Company.

*         Dominion has excellent access to projects in these countries, where
          historically the majors have found difficulty in penetrating the      
          market.

*         Three of the directors have considerable experience of working in
          these countries. (Two of the directors have over 50 years combined    
          experience of working in oil and gas exploration and management).

*         Iran is OPEC's second largest producer with 9% of the world's
          reserves and 15 %of the world's gas reserves.

*         Turkmenistan contains up to 740tcf of gas reserves and is of great
          geopolitical importance in terms future pipeline gas exports.