Xtract Energy Reduces stake in MEO Australia

Xtract has recently reduced its interest in MEO Australia from 22.8% to 21.3% of MEO's issued capital.

The Company's wholly owned subsidiary Cambrian Oil & Gas Plc has this week sold 5 million shares in MEO at A$1.10 per share in cash to substantial financial institutions that are, like Xtract, strong supporters of MEO and its exploration, drilling and development plans.

Following this disposal Xtract (through COIL) retains 71,366,814 shares in MEO.