A mixed bag?

Friday, Jul 17 2009 by
  • Xtract Energy Plc was established in 2004 (as then Resmex Plc) and its shares were admitted to trading on AIM at the end of March 2005.
  • Xtract "aims to build and manage a portfolio of energy assets where the cost of entry is relatively low but where there is very considerable upside potential. By holding a portfolio of private and public company investments, Xtract offers investors access to otherwise unlisted opportunities together with financial flexibility and liquidity."
  • The principal assets of Xtract Energy are its holdings in MEO Australia (ASX: MEO)(11.6%), Elko Energy Inc (35.4%),  Extrem Energy (20%), Xtract Oil (100%), Xtract Energy Oil Shales (70%), Wasabi Energy (19.4%) and Zhibek Resources (25%). The company is developing a proprietary technology to enhance the yield of hydrocarbons from oil shale.
  • Recent drilling update - http://www.stockopedia.com/news/announcement/XTR/090717xtr000793.htm - on the progress of the production test being carried out at Sarikiz-2 by its Turkish joint venture Extrem Energy A.S. ("Extrem Energy").

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Xtract Resources PLC is a United Kingdom-based gold and copper exploration and development company with projects in Chile and South Africa. The Company operates through two segments: Gold Production, which operates gold and precious metal mining, and Investment and Other, which includes investment in various unlisted resource companies, including available-for-sale assets. The Company's Chepica Gold & Copper Mine is located approximately 300 kilometers south of Santiago near the town of Talca. The Chepica Gold & Copper Mine produces approximately 4,000 tons per month. The Company's Manica Gold Project is located approximately four kilometers north of Manica town, over 270 kilometers west-northwest of the city of Biera. The Manica Gold Project is set to produce approximately 30 thousand ounces (koz) per annum. The Company's subsidiaries include RPK Finance & Holdings BV, Polar Mining (Barbados) Limited and Minera Polar Limitada. more »

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