TIDMANR 
 
16 November 2017 
 
                               Altona Energy Plc 
 
                          ("Altona" or "the Company") 
 
                      Commissioning of Further Coal Study 
 
Following the announcement of 25 September 2017, the Board of Altona (AIM: ANR) 
confirms that it has now commissioned a second report to investigate the 
probability of viable dry coal or 'less wet' coal (coal not submerged in deep 
water) deposits in its three tenements in the Arckaringa Basin, with a focus 
initially on the Westfield tenement. 
 
The Westfield tenement is located at the edge of the Great Artesian Basin, 
which is at the highest elevation of the tenements and disconnected from the 
major water system which covers much of the Arckaringa Basin. 
 
As previously reported, the Company, through its mining consultant WSP 
Australia Pty Ltd, has engaged the services of Runge Pincock Minarco Global 
("RPM") who are a specialist professional mining consultant with previous 
history with the Arckaringa Exploration Licences ("ELs"). 
 
RPM is an expert in coal and familiar with the Arckaringa Basin and will 
undertake a more detailed and accurate data analysis and mapping of the ELs 
using the available seismic, water table and other data to focus in on the 
Westfield tenement and other areas disconnected from the main water system to 
develop information for a potential seismic programme. This in turn will 
provide information for the development of a possible drilling programme. The 
objective of these investigations is to define a suitable target area for a 
coal mining development. The report is expected to take a few weeks to 
complete. 
 
The recent rise in coal prices in Australia, from a low in January 2016 of 
USD49 per metric tonne, to today's price of almost USD100 per metric tonne has 
convinced the board and the Company's new investors of the viability of a 
traditional coal strategy. Australia, the world's largest exporter of coal, 
currently exports over 70% of its coal to the Far East and India (*), giving 
the board confidence that it could quickly find a customer once commercial 
production has begun. 
 
(*) Sources: 
 
https://www.australianmining.com.au/features/ 
where-does-australias-coal-go-infographic/ 
 
https://industry.gov.au/resource/Mining/AustralianMineralCommodities/Documents/ 
Australias-major-export-commodities-coal-fact-sheet.pdf 
 
This announcement contains inside information for the purposes of Article 7 of 
Regulation (EU) 596/2014. 
 
                                    -ends- 
 
For further information, please visit www.altonaenergy.com or contact: 
 
Leander (Financial PR)                               +44 (0)7795 168 157 
Christian Taylor- Wilkinson 
 
Northland Capital Partners Ltd (Nomad and            +44 (0)20 3861 6625 
Broker) 
Matthew Johnson / Gerry Beaney (Corporate 
Finance) 
John Howes (Corporate Broking) 
 
 
About Altona 
 
Altona is listed on the London Stock Exchange's AIM market.  Its principal 
focus is on the evaluation and development of the Company's flagship Arckaringa 
Project to exploit the significant coal resources contained in three 
exploration licences covering 2,500 sq. kms in the northern portion of the 
Permian Arckaringa Basin in South Australia.  The Project is designed to 
produce either coal or syngas products for the Australian market and export 
from an historic resource exceeding 7.8 billion tonnes of coal (1.3 billion 
tonnes historic JORC (2004) compliant). 
 
 
 
END

(END) Dow Jones Newswires

November 16, 2017 02:29 ET (07:29 GMT)

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