15 February 2013
XTRACT ENERGY PLC
("Xtract" or the "Company")
Sale of Holding in Equus Mining Limited
Xtract (AIM: XTR) announces that on 14 February 2013 the Company disposed of its entire holding in Equus Mining Limited ("Equus"). The Company's 14 million shares in Equus were sold at a price of 7 Australian cents per share, resulting in a gross consideration of AUS$ 980,000 before dealing costs.
Xtract originally received 140 million shares in Caspian Oil & Gas Limited, an Australian listed company which has since changed its name to Equus Mining Limited following a 10 to 1 share consolidation. The shares in Equus were classified by the Company as an asset held-for-sale and were originally acquired on 3 May 2012 when an agreement was signed with Santos International Holdings ("Santos") releasing Santos from certain funding obligations which formed part of the original Farm-in Subscription Agreements executed between Santos and Xtract.
Enquiries please contact:
Xtract Energy Plc |
Colin Bird, Executive Chairman Peter Moir, CEO |
+44 (0) 137 237 9722 +44 (0) 137 237 9722 |
Cenkos Securities Plc |
Jon Fitzpatrick Alan Stewart |
+44 (0) 207 397 8900 +44 (0) 131 220 6939 |
Gable Communications |
Justine James |
+44 (0) 207 193 7463 |
