- 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.co.uk/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").
Other Background Document:
- 1/2 Yearly report: http://www.stockopedia.co.uk/news/announcement/XTR/090206xtr9428m.htm
- AIM admission document from 2006: http://www.xtractenergy.co.uk/documents/ResmexAdmissionDocument20-Jan-06.pdf
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Xtract Energy plc is engaged in identifying and investing in a portfolio of early-stage oil and gas assets and business interests. The Company operates in three segments: oil and gas exploration, evaluation and development, oil shale exploitation and investment and other. The Company’s oil and gas exploration, evaluation and development segment includes interests in Turkey, the Netherlands and Denmark. The Company’s oil shale exploitation segment includes the Company’s interests in Queensland, Australia and Tarfaya, Morocco. The Company’s investment and other segment holds investment in various listed resource companies, including held-for-sale assets. On September 13, 2011, the Company acquired the outstanding non-controlling interest in its subsidiary Elko Energy Inc. On August 24, 2011, the Company completed sale of Extrem Energy AS. On February 14, 2013, the Company disposed its entire holding in Equus Mining Limited (Equus). more »
