TXO : Empire Energy Update

TXO PLC
("TXO" or the "Company")

Empire Energy Update

Smart Win Appeal against Summary Judgment Motion Dismissal

TXO PLC, the AIM-quoted energy resource and clean technology investment company, announces that Smart Win (the Plaintiff) has filed a Notice of Appeal against the dismissal of their motion for summary judgment against Empire Energy.

The counsel for Empire Energy Corporation Inc, Paul Batista, commented that in his opinion the filing of the Notice of Appeal was a desperate gambit by Smart Win to avoid a trial and a potentially significant judgment in favour of Empire Energy. He also pointed that Smart Win's filing of the Notice of Appeal does nothing in and of itself to stay or delay the April trial date.

TXO has an indirect interest via its 25 per cent. investment in Tasmania Oil and Gas Limited.

For further information, please contact:

TXO PLC
Tim Baldwin, Chairman                              [phone]

Northland Capital Partners Limited         [phone]
John Howes / Alice Lane
Sales and Broking

Edward Hutton / William Vandyk
Nominated Adviser

Lothbury Financial Services Limited       [phone]
Michael Padley / Chris Roberts

Editors' Note

TXO PLC, the AIM quoted oil and gas investment company, has four main investments namely: The Grand Bahama Group Limited ("GBG") which is establishing a waste oil collection facility and Hydrocarbon Recovery Plant in the Bahamas at Freeport and also produces oil from its leases in Western Kentucky, USA; Oil Recovery Services Limited ("ORS"), which has proprietary technology for the reprocessing of contaminated oils and the remediation of dirty water; Oil Tech Royalties Inc ("OTR"), a joint venture company with a licence to commercialise a proprietary acoustic flow reactor valve; Athabasca Resources Limited ("Athabasca Resources") which has signed an agreement to acquire a 50 per cent. farm-in interest in certain Alberta Crown Leases covering 7,936 hectares in the Athabasca oil sands in Alberta, Canada. TXO also has an interest in Tasmania Oil and Gas Limited ("TOG") a joint venture company set-up to exploit a gas and oil opportunity in Tasmania, Australia, which is non-core.

TXO currently holds a 35.67 per cent. interest in GBG, a 25.1 per cent. interest in ORS, a 30 per cent. interest in OTR and an 18.8 per cent. interest in Athabasca Resources. It retains a 25 per cent. interest in TOG.