TXO TXO

TIDMTXO

RNS Number : 7729G

TXO PLC

06 March 2015

TXO PLC

("TXO" or the "Company")

Third party purchases of shares value OTR at EUR10m

TXO, the AIM-quoted energy resource and clean technology investment company, announces that Anatom Panama Investment, Corp ("Anatom") has purchased a 3% stake in Oil Tech Royalties Inc ("OTR") for EUR300,000, as referred to in the Trading Update RNS dated 21 January 2015, which values TXO's 30% shareholding in OTR at EUR3 million (equivalent to approximately 0.16p per existing TXO ordinary share). TXO acquired its 30% interest in OTR for US$74,250 in March 2014.

In addition to its initial 3% stake, Anatom has been granted an option to acquire a further 2% of OTR at the same price. Anatom will also have stock options, based on an incentive plan, under which it can acquire up to an additional 1.5% holding in the company.

In addition, a private investor who is actively involved in growing OTR utilising his network in Germany, Finland, Austria and Turkey, is also acquiring a 1% interest in OTR for EUR100,000, with the option to buy another 4% at the last price shares were acquired at.

The vendor in each case is one of the principal shareholders of OTR. OTR has been looking for investors to help finance and develop the business.

Further to the announcement of 20(th) October 2014 the company is proceeding with plans to pilot test the valve in Kuwait and discussions regarding similar trials in Saudi Arabia are continuing. Further announcements will be made as appropriate.

Information on Anatom

Anatom is a private international investment company. The Head of Anatom has a 20 year background in sales and marketing and occupies a senior marketing position at Dassault Systemes. He is an active angel investor and mentor to start-ups and is planning to play an active role in developing OTR.

Tim Baldwin, Chairman and CEO of TXO, commented:

"The new investors have made a significant commitment to OTR and one that we believe will enable the company to accelerate its business plan. The technology is attracting significant interest, in the Middle East and further afield, and we hope to be in a position to make announcements regarding contracts shortly. The investment values TXO's holding at EUR3 million, which is significant in terms of the Company's market value."

06(th) March 2015

For further information, please contact:

TXO PLC

   Tim Baldwin, Chairman                                     +44 (0) 207 518 4300 

Lothbury Financial Services Limited

   Michael Padley / Chris Roberts                       +44 (0) 203 440 7620 

Editors' Note

TXO PLC, the AIM quoted oil and gas investment company, has four main investments, namely: Grand Bahama Group Limited ("GBG") which is establishing a waste oil collection facility and Hydrocarbon Recovery Plant in the Bahamas at Freeport and also produces oil from its leases in Western Kentucky, USA; Oil Recovery Services Limited ("ORS"), which has proprietary technology for the reprocessing of contaminated oils and the remediation of dirty water; Oil Tech Royalties Inc ("OTR"), a joint venture company with a licence to commercialise a proprietary acoustic flow reactor valve, and Athabasca Resources Limited ("Athabasca Resources") which has signed an agreement to acquire a 50 per cent. farm-in interest in certain Alberta Crown Leases covering 7,936 hectares in the Athabasca oil sands in Alberta, Canada. TXO also has an interest in Tasmania Oil and Gas Limited ("TOG") a joint venture company set-up to exploit a gas and oil opportunity in Tasmania, Australia, which is non-core.

TXO currently holds a 35.67 per cent. interest in GBG, a 25.1 per cent. interest in ORS, a 30 per cent. interest in OTR and an 18.8 per cent. interest in Athabasca Resources. It retains a 25 per cent. interest in TOG.

ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

END

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