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Additional information
Additional Information
Market: AIM
Sector: Oil and Gas Exploration and Production
Epic: XTR
News: Latest news
Web Site: Xtract Energy
Other Articles: 02-03-201012-02-201020-01-2010

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Monday March 15, 10:21Diamondcorp: a big cash injection and a lot of work to do

70% of the new money was raised from current shareholders, reflecting a hefty amount of faith in the management to deliver.

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Friday March 12, 07:58Lithium and rare earths markets poised for growth

Right now, the world relies almost completely on China for its rare-earth supply. The Chinese have made it clear that they want to keep more supply for themselves as they try to be the world leader in green technology

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Xtract Energy

Xtract Energy

Xtract Energy identifies and invests in a diversified portfolio of early stage energy sector technologies and businesses with very significant growth potential. The company works closely with its management teams to achieve critical project milestones, to finance later development stages and to build and crystallise value for all shareholders and partners.

CLICK HERE FOR FULL ANALYSIS OF XTRACT ENERGY
Wednesday, July 01, 2009

Xtract Energy raises stake in Turkish JV Extrem to 27 pct

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Xtract Energy PLC (AIM: XTR) said it increased the stake in its Turkish joint venture Extrem Energy AS to 27 percent from 20 percent by paying US$1.75 million.

It expects the remaining half of the optional subscription to be completed on or before August 5 2009 upon the satisfactory completion of certain conditions relating to the ongoing production test at Sarikiz-2, thus reaching a 34 percent stake in the venture.

Test oil production from the interval between 1,741 and 1,746 metres of the Sarikiz-2 well, which Xtract reported on last month, was found to be associated with a volume of carbon dioxide. Whilst production could be established from this level, it is believed that other levels will not have the same association and will therefore be given preference for early production.

A further 7 intervals at depths between 1,545 and 1733 metres remain to be tested. The next perforation is expected to take place today, Xtract added.

Extrem Energy holds a portfolio of seven license interests in Turkey. Following recent processing and interpretation of seismic surveys at Edirne in north-west Turkey and at Siraseki in the south-east of the country a number of promising oil and gas prospects have been identified. Together with development of Sarikiz and the neighbouring Alasehir fields, Extrem Energy is building a very promising pipeline of drill-ready targets.

All operations are controlled and operated by Merty Energy, Xtract's joint venture partner in Extrem Energy.

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