News

January 29, 2010

Little Altona Energy Makes Real Progress With Its Joint Venture With China’s 3rd Largest Oil Company In Its Coal-to-Liquids Project in Australia

"We no longer have a putative project, we have a business". So says Chris Lambert, Chairman of Alton Energy, a London listed, Australia-based company involved in a coal-to-liquids scheme in South Australia.

Five years ago Altona just had a dream and a seemingly impossible dream at that. The company had secured what it said was one of the world’s largest untapped energy sources. The group had, at modest entry price, bought 100 per cent of three exploration licences at the Arckaringa Basin in South Australia (EL3360, 3361, 3362). The licences contained huge coal deposits estimated at 7.8 billion tonnes (non-Jorc); and this really is huge. Using the latest BP Statistical Review, the North Sea oil and...