another arkaringa player.., page-4

Altona Resources Plc, the Australian based energy company, has signed a share
subscription agreement ('the Agreement') with Tongjiang International Energy Co.
Ltd ('Tongjiang'), a Hong Kong based investment company to raise £11,618,000
through the placing of 240 million new ordinary shares ('Shares) with Tongjiang.

The funds raised will provide Altona with a substantial part of the funds
required to complete the final stage of the bankable feasibility study for the
Company's 10 million barrel per year coal-to-liquids ('CTL') and 560MW co-power
generation Arckaringa Project in South Australia .

Tongjiang is a subsidiary of Tongjiang Group Limited, which has business
interests in both China and abroad, primarily in energy and resources. The
Board of Tongjiang include directors with experience in senior government,
mining and industry positions within China.

Altona Chairman Chris Lambert said, 'We believe this agreement with Tongjiang to
be an excellent opportunity for Altona to secure significant funding, as well as
providing the prospect to open doors in China, where there is increasingly
strong demand to secure distillate fuel supply and investment in energy
projects.

They only hold a 2500km portion of the basin sapex hold a 65,000km portion imagine the potential