VANCOUVER, Aug. 27 /CNW/ - Western Canadian Coal Corp (TSX: WTN, WTN.WT
and WTN.DB and AIM: WTN) ("Western" or "Company"), which owns a 45% interest
in Xtract Energy Plc ("Xtract") (AIM: XTR), is pleased to announce an update
on Xtract's oil and gas interests in Turkey.
Xtract has a 34% interest in Turkish joint venture Extrem Energy A.S.
("Extrem"). Extrem has now completed analysis on oil production test data from
Sarikiz-2, together with other well, seismic and geochemical data to arrive at
estimated recoverable oil from the field of 74 million barrels. As part of the
field development plan, a three well production drilling program is due to
commence in September and extend through to the end of December.
Furthermore, geochemical surveys over Extrem's Siraseki licence, located
near the Syrian border, indicate the existence of a structure with the
potential to recover 94 billion cubic feet of natural gas. Drilling in this
licence area is expected to commence in early 2010.
The information disclosed by Extrem in relation to resource estimates has
been provided using SPE standards and reviewed and approved by Ongun Yoldemir,
Managing Director of Extrem Energy, who has a masters degree in geological
engineering and over 28 years experience in the resource and energy sector.
Xtract identifies and invests in a diversified portfolio of early stage
energy sector technologies. The portfolio of assets includes 34% interest in
Extrem Energy AS, which is a joint venture with oil licences in Turkey; 35%
interest in Elko Energy Inc, which has oil and gas licences in the Danish and
dutch North Sea; 25% interest in Zhibek Resources Ltd, which has oil and gas
interests in the Kyrgyz Republic; 70% interest in a joint venture Xtract Oil
Morocco SA, which has the rights to explore and develop an oil shale deposit
in Morocco; and 13% interest in Wasabi Energy Ltd, which is a diversified
investor in traditional and renewable energy technologies. Further information
can be found at www.xtractenergy.co.uk.
Western is a producer of high quality metallurgical and thermal coal from
mines located in northeast British Columbia (Canada) and West Virginia (USA).
The mines have the capacity to produce 7 million tonnes per year and have over
20 years of coal reserves. Western also owns a 50.6% interest Energybuild
(EBG: AIM) which produces high quality anthracite and thermal coals in South
Wales (UK). Other interests owned include a 45% interest in Xtract Energy
(XTR: AIM), 20% interest in NEMI Northern Energy & Mining (NNE.A: TSX) and
100% of a small gold and antimony operation in Australia. The Company is
headquartered in Vancouver, BC, Canada, and trades on the AIM and TSX stock
exchanges under the symbol "WTN". More information can be found at
For further information:
For further information: Western Canadian Coal Corp., David Jan,
Director, Investor Relations, (604) 608-2692, firstname.lastname@example.org; Xtract
Energy Plc, Andy Morrison, CEO, +44 20 3205 1148,