EEGC Additional information:
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.
--ENDS--
Enquiries:
Alpha Prospects Plc
Christopher Foster Tel: 020 7518 4300
Rivington Street Corporate Finance
Eran Zucker Tel: 020 7562 3373
