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Xtract Energy to negotiate oil shale tenements at Julia Creek


Published Oct 12, 2012
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Xtract Energy says that negotiations between Global Oil Shale Group Limited (GOS) and Xtract with regard to Xtract's oil shale tenements at Julia Creek in Queensland, Australia have advanced with the restructuring of the transaction resulting in alignment of both companies' strategic objectives and the signing of a further non-binding heads of agreement.

The Julia Creek tenements cover an area of 709 square kilometres and contain JORC defined Indicated and Inferred Resources of 2.18 billion barrels of shale oil at an average grade of 61 litres per tonne at zero moisture (LTOM).

Tags: Xtract Energy




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