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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.
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ALPHA PROSPECTS PLC
("Alpha" or the "Company")
CHAIRMAN'S STATEMENT
FOR THE PERIOD ENDED 31 August 2011
I am pleased to present the financial results for Alpha Prospects Plc for the
12 month period ending 31 August 2011.
The loss for the 12 month period is £334,088. However during the year
shareholders funds increased from £493,438 to £583,748.
During the year the Board has continued to look for investment opportunities
and we expect to announce further share stakes during 2012. In this regard
Alpha will be looking to raise further funds during the coming year.
The Directors do not propose to pay a dividend for the period ending 31 August
2011.
In last year's statement I said the Company planned during 2011 to strengthen
its board and in this regard we were delighted to have appointed Tim Baldwin to
the Board in September this year. Tim is currently the Chairman of both AIM
listed TXO Plc and Ram Active Media Plc. Tim has extensive knowledge of the oil
and gas and mining sectors. He is also Chairman of Hill Street Investments PLc,
which currently owns a 25.19% in the Company.
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