ANGOLA      ALGERIA      CAMEROON      CHAD.      CONGO      EGYPT      EQUATORIAL GUINEA      GABON      LIBYA.     NIGERIA      SOUTH AFRICA      SUDAN      TUNISIA      OTHERS 

Xtract Energy & Alraed to Develop Oil Shale Project in Morocco

09-20-2008

Xtract Energy Plc. said it has entered in a joint venture agreement with Alraed Ltd. Investment Holding Company WLL, to evaluate and develop oil shale projects in Morocco.

The Company said the joint venture company, Xtract Energy (Oil Shale) Morocco SA, has recently signed a memorandum of understanding with the Office National des Hydrocarbures et des Mines for evaluation and possible development of an oil shale deposit near Tarfaya, in the south west part of Morocco.

Xtract Energy currently holds 70% of the joint venture.