Sirius Exploration

October 13, 2009 08:28 ET

Acquisition of Co2 technology patents

For immediate release: 13 October 2009
                                            SIRIUS EXPLORATION Plc
                                          ("Sirius" or "the Company")
                                     Acquisition of Co2 technology patents
Sirius  Exploration Plc, (AIM: SXX, OTC: SRUXY), the diversified mining and exploration holding company focused
on  North  America and Australia, announces that it has acquired 100% of the ordinary shares in and  rights  to
patent applications of Co2 Energy Storage Pty Ltd (Queensland), Bicarb Sequestration Pty and Co2 Energy Storage
Ltd  (Nevada)  USA  (together "the Companies") for the issue of options granted by the Company  over  2,550,000
Ordinary  Shares  which are exercisable at any time within the three years of issue at  17.5p  per  share.  The
acquisition  includes a patent application put in place by the Companies owner, Walter Doyle, relating  to  the
use of Co2 in energy storage.

Information on the Companies
The Companies are privately held in Queensland Australia and Nevada USA. The Companies have commenced initiatives
in two main areas:

    1.      Storage or sequestration of Co2
    The Companies are currently working on a range of innovative approaches for both the storage of Co2 in salt
    caverns,  as created by solution mining, and the sequestration of Co2 - whereby Co2 is effectively rendered
    inert  -  by  directly  injecting it into certain types of salt beds. This work is  being  undertaken  with
    various Universities and research organisations in Australia and the USA.

    2.      CAES revised to use Co2
    The  Companies are also working on an innovative new technology which takes the concept of CAES (Compressed
    Air  Energy  Storage)  and  revises  it to use compressed Co2 rather  than  compressed  air.  Part  of  the
    acquisition  includes a patent filed by Co2 Energy Storage Pty Ltd naming Walter Doyle as the inventor  for
    the concept of using sequestrated Co2 in a dual salt cavern model for the storage of electricity.
This  not only provides greater power storage than conventional CAES but would also qualify for carbon  credits
for the sequestrated Co2.

Reasons for the Acquisition
The transaction provides Sirius with a new technology which can be used to expand the economic benefits of
Sirius' salt deposits in Australia and North America.

The  Directors  of Sirius believe that Co2 sequestration and storage is going to be one of the  most  important
industries  of  the  future.  These acquisitions place Sirius firmly in the  forefront  of  research  in  these
industries and provide an important expansion route for the use of Sirius' existing assets.

Background on Sirius
Sirius is quoted on the AIM market of the London Stock Exchange in London and its shares are also traded in
North America through the use of an ADR facility.  Sirius currently has interests in potash and salt caverns
through its subsidiaries Dakota Salts LLC and Auspotash Limited.

Richard Poulden, the Chairman of Sirius, commented:
"By 2050 carbon emissions must be cut by half yet energy demands are likely to increase. Salt caverns and salt
beds offer the potential to provide a natural, and geologically sound, way for removing harmful carbon
emissions from the earth's atmosphere. The acquisition of this group of companies not only provides us with an
important technology base that will allow us potentially to extend significantly the commercial life-cycle of
our own salt and potash properties, it also provides us with a technology that potentially can be licensed to
third parties. We see this as a key strategic acquisition in the development of Sirius as a significant player
in the salt and potash market."


Further Information:

Richard Poulden

Chairman, Sirius Exploration Plc.                        Tel: +971 556 232 672

Jonathan Harrison (Financial Director)                   Mobile: + 44 78 7988 7755

Beaumont Cornish

Roland Cornish                                           Tel:  +44 (0)20 7628 3396

Gth media relations

Toby Hall                                                Tel: +44 (0)20 7153 8039

Christian Pickel                                         Tel: +44 (0)20 7153 8036


Contact Information

  • Sirius Exploration