REG - Clontarf Energy PLC - Share Price Movement and Shareholder Update

Clontarf EnergyAnnouncement

05/09/2022 07:16

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RNS Number : 2418Y  Clontarf Energy PLC  05 September 2022

 

5th September, 2022

 

 

Clontarf Energy plc

("Clontarf" or "the Company")

 

Share Price Movement and Shareholder Update

 

The directors of Clontarf Energy plc (AIM:CLON) note the increase in the
Clontarf share price on 2 September 2022 and can confirm that there is no new
price sensitive information required to be disclosed.

 

However the Board will take this opportunity to update shareholders on current
activities further to the release of the Annual Report in June:

 

In Bolivia, Clontarf has been in discussions with international Direct Lithium
Extraction processing experts, and has agreed in principle on a Joint Venture
to test brines in medium-sized Bolivian salt-lakes.  If the laboratory
test-work is satisfactory, we will consider, subject to sourcing the necessary
funding, building an on-site pilot plant to production test the Direct Lithium
Extraction process.

 

This work will follow a planned augering campaign on the areas of the targeted
salt-lakes of highest priority, and necessary approvals from the Bolivian
authorities.

 

In Australia, Clontarf is studying, with its partners, the deeper plays on
its 10% Working Interest in WG-519-P Block on the North Western Shelf in
Australia.  The high Asian gas prices, and likely LNG feedstock shortage
have increased interest in both our existing acreage, and additional projects
which have been proposed to Clontarf.

 

Finally, in Ghana the Board notes renewed conversations with the Ghanian
authorities with a view to complete delayed ratifications of signed Petroleum
Agreements, so as to expedite exploration programmes on prospective acreage in
Tano Basin.

 

The resurgence of interest in African exploration and development may lead to
additional proposals in the coming months.

 

Chairman, David Horgan, commented:

 

"Anticipated lithium salts demand will be impossible to serve without
developing several Bolivian salt-lakes. We expect that the Bolivian Lithium
Law will soon be updated to make clear the legal basis for Joint ventures with
the authorities."

"In parallel, there has been recent progress on Direct Lithium Extraction
processes that now make battery-grade lithium salts production
feasible.  We hope that Clontarf Energy will be part of this emerging
industry."

"In oil and gas, tightening hydrocarbons supply-demand balance promises a
revival of exploration and the farm-out market.  Shortages of piped gas and
LNG feedstock have driven prices to record levels.  There has rarely been a
better time to hold prospective acreage".

 

 

 

 

 

For further information please visit http://clontarfenergy.com
(http://clontarfenergy.com) or contact:

 

 Clontarf Energy                    +353 (0) 1 833 2833

 David Horgan, Chairman

 Jim Finn, Director

 Nominated & Financial Adviser      +44 (0) 20 7409 3494

 Strand Hanson Limited

 Rory Murphy

 Ritchie Balmer
 Broker                                     +44 (0) 207 399 9400

 Novum Securities Limited

 Colin Rowbury

 Public Relations                   +44 (0) 207 138 3206

 BlytheRay

 Megan Ray
 Teneo                              +353 (0) 1 661 4055

 Luke Hogg

 Alan Tyrrell

 Ciara Wylie

 

 

 

 

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