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Joint Venture Agreement with Empire Energy Corporation International

  Download PDF - Friday 17th February 2012 at 07:00

ALPHA PROSPECTS PLC
("Alpha" or the "Company")

JOINT VENTURE AGREEMENT WITH EMPIRE ENERGY CORPORATION INTERNATIONAL

The Board of Alpha Prospects Plc ("Alpha") announces today that it has established Alpha Prospects Australia Pty Ltd ("APA") with registered offices in Tasmania. Further to the 8K filing by US-based Empire Energy Corporation International ("Empire") (Pink Sheets: EEGC.pk), Alpha has entered into an agreement with Empire for Empire to spend $2 Million USD on drilling and a seismic survey to prove up resources and reserves to a Joint Ore Reserves Committee (JORC) code (AUST) and reporting standards.

Subject to licences, located within the Mt Lloyd vicinity, approximately 40km west/north-west of Hobart in Southern Tasmania, covering 500 sq km, being granted and Empire deploying $2million USD, Empire will be entitled to a 75% interest in the shares of APA. In consideration of the above, Alpha will issue 49 Million new Alpha shares to Empire representing 26.6% of the enlarged capital of Alpha. APA intends to implement an exploration program with particular focus upon coal and coal bed methane.

The agreement between Alpha, APA and Empire will be lodged with the SEC as an 8k filing by Empire.

Christopher Foster, CEO of Alpha Prospects PLC commented "This represents a further investment in a grass roots coal exploration opportunity at a time when coal prices have improved and where validation work is ready to be undertaken. We believe that there is substantial coal potential in the licence areas."

The Directors of the issuer accept responsibility for this announcement.

Enquiries:

ALPHA PROSPECTS PLC Christopher Foster +44 203 176 3031
RIVINGTON STREET CORPORATE FINANCE Eran Zucker +44 207 562 3373