Spitfire Oil Ltd


Spitfire Oil Ltd intends to develop the Salmon Gums lignite deposit in Western Australia and to convert the lignite produced into fuel oil. There is an inferred resource of 500m tonnes of lignite. It is estimated that 69 litres of oil can be produced from one tonne of the lignite. Spitfire joined Aim on 18 July 2007, when it raised £10m through the placing of shares at 60p each with investment firm Citadel.

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