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Altona Provides JV Negotiation Update

Source: www.gulfoilandgas.com 7/30/2014, Location: Not categorized

Altona announces that alongside its partners Wintask and Sino-Aus the negotiations over the Arckaringa joint venture agreement are continuing. Altona, Sino-Aus and Wintask recently held constructive talks in Xi'an, People's Republic of China, where the commercial terms of the joint venture agreement were discussed.

Chairman, Michael Zheng commented: "All of the parties had hoped to conclude the joint venture agreement before 31 July 2014 however there is complexity inherent in negotiating an agreement across international jurisdictions for a project of the size and potential of the Arckaringa project. We are continuing to work very hard alongside Wintask and Sino-Aus and thank shareholders for their continued patience and look forward to giving further information in the near future".

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