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DJ Altona Energy Plc Business Update

 
TIDMANR 
 
11 February 2020 
 
                               Altona Energy Plc 
 
                          ("Altona" or "the Company") 
 
                                Business Update 
 
Altona (NEX: ANR.PL), a coal exploration company with a focus on in-situ 
gasification, announces that it plans to issue its Annual Accounts for the year 
ended 30 June 2019 within the next two weeks. The delay has been caused by a 
change in auditor and the evaluation and new treatment of its historical 
Australian exploration licences. 
 
The Company will look to shortly provide an update as to the proposed 
acquisition of the new Petroleum Exploration Licence Application ("PELA"), as 
first announced on 21 November 2019. The two parties have exchanged an 
exclusivity agreement and final terms are being negotiated. 
 
The Board has also agreed the immediate need for a fundraise to finance ongoing 
costs, allow it to acquire the new exploration licence and fund the preliminary 
exploration stages to confirm coal deposits suitable for the in-situ 
gasification process. Shareholders will be invited to participate in this 
fundraise and documents to this effect will be posted out in the next two 
weeks. 
 
                                    -ends- 
 
For further information, please visit www.altonaenergy.com or contact: 
 
Altona Energy plc 
Qinfu Zhang, Executive Director                     +44 (0) 7795 168 157 
Philip Sutherland, Non-Executive Director            +61 (0)402 440 339 
 
Alfred Henry Corporate Finance Ltd (NEX 
Corporate Adviser) 
Jon Isaacs / Nick Michaels                          +44 (0) 20 3772 0021 
 
Leander (Financial PR) 
Christian Taylor- Wilkinson                         +44 (0) 7795 168 157 
 
 
 
Company Information 
 
Altona is an exploration company focused on the evaluation, development and 
extraction of coal assets in South Australia though the process of in-situ 
gasification. 
 
The Company was admitted to trading on AIM on 10 March 2005 and was 
subsequently admitted to NEX on 1 February 2019.  A copy of its admission 
documents dated 4 March 2005 can be accessed on its website, 
www.altonaenergy.com.  This website is where items can be inspected under Rule 
75 of the NEX Rules for Issuers, from 1 February 2019. 
 
 
 
END 
 

(END) Dow Jones Newswires

February 11, 2020 02:00 ET (07:00 GMT)