Xtract Energy Plc (Xtract Energy) said that production test was completed on July 30, 2009 and that the Sarikiz-2 well at its Turkish joint venture Extrem Energy A.S. (Extrem Energy) is being shut in as a production well with commercial production expected to commence in October 2009. The rig is now being moved to the site of the former East Sarikiz-1 well and will test the horizons from which commercial production is expected.

Extrem Energy is expected to have two commercial wells on stream in the fourth quarter of 2009. The results of the production test at Sarikiz-2 indicated a theoretical production potential of 690 bbl/day from the tested zones and a potential of up to 450 bbl/day more from untested zones. Not all levels can in practice be produced at once due to production techniques. Four levels have been selected for initial production. After the results of testing, Extrem Energy has decided to apply an optimized value of initial 350 bbl/day of production in order to maximize the field life and the amount of recoverable oil through time.

The pressure and other logging data from the production test will now be processed, which will enable an improved estimate of field size. This will be combined with the results of a recently completed geochemical survey over the wider field area. The information will be used for field development and the site selection for follow-on wells. The process for registering Sarikiz-2 as a discovery well is already under way with the Turkish authorities and the well results will be used to generate the applicable reserve categorization.

In addition to progress at Sarikiz, Extrem Energy continues to advance its interests in other license areas. A short additional programme of seismic acquisition over the Edirne license in the Thrace basin in western Turkey was commenced in the second half of July 2009. As at July 30, 2009, the 75.76 kilometers project was 40% completed. The results will be used to firm up drilling targets in this predominantly gas-bearing region. A geochemical study on Adana-Siraseki license has also been completed and sent for analysis.

All operations are controlled and operated by Merty Energy, Xtract Energy’s joint venture partner in Extrem Energy.

Xtract Energy holds 27% of Extrem Energy and has the option of increasing its shareholding to 34% by contributing a further investment of $1.75 million before August 5, 2009.