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Market Update

  Download PDF - Monday 18th March 2013 at 09:19am

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

MARKET UPDATE

Alpha Prospects PLC notes the announcement made today by AIM listed TXO Plc ("TXO") relating to further work to be undertaken by Tasmania Oil and Gas Limited ("TOG") on its licence areas. This work includes a limited drill programme, the cost of which is fully funded. TXO's announcement can be viewed on the TXO website at http://www.txoplc.co.uk.

As announced on 24 September 2012, subject to certain conditions being satisfied by 15 May 2013, Alpha will subscribe for a 20% interest in TOG, for consideration to be satisfied by the issue of 33,333,333 ordinary shares in the Company.

In the event that this option is exercised, a further announcement will be made.

Christopher Foster and Timothy Baldwin are directors of both Alpha and TXO.

The Directors of Alpha Prospects Plc accept responsibility for the contents of this announcement.

Enquiries:

ALPHA PROSPECTS PLC Christopher Foster +44 20 7518 4300
PETERHOUSE CORPORATE FINANCE LIMITED Eran Zucker / Fungai Ndoro +44 20 7469 0932