Eden Energy completes $10m IPO plans

Tasman Resources NL subsidiary Eden Energy has finalised plans to develop a range of alternative energy projects, including hydrogen technology, coal bed methane and geothermal energy projects, from the proceeds of its planned $10 million IPO.

Eden Energy is expected to list on the ASX in May 2006.

At 1150 WST, Tasman's share price was up 1 cent to 11.5 cents.

The company was established by Tasman Resources in 2004 as a diverse alternative energy company.

It is proposed that the Eden Energy prospectus will be lodged with ASIC on or about 29 March 2006 and that the subscription lists will open on 8 April 2006.

Under the Eden prospectus, Tasman shareholders, registered as at close of business on 7 April 2006, will be given a general priority in respect of shares to be issued pursuant to the Eden prospectus.

After listing, Tasman will hold 32.98 million shares representing 25.29 per cent of the then issued shares in Eden, and 32.55 million options representing 35.75 per cent of the then issued options in Eden.

Eden Energy investments include:

• Hydrogen Technology (Eden 100 per cent): Eden now holds 100 per cent of Brehon Energy plc, which has acquired and is developing a wie range of hydrogen related technologies from its operational base in Colorado, USA.
• Coal Bed Methane / Coal Mine Methane / Natural Gas Project - South Wales, UK (Eden 50 per cent): In July 2004 Eden entered into a farm-in agreement to acquire a 50 per cent interest in respect of licences covering the South Wales coal fields in the UK.
• South Australian Natural Gas (Eden 100 per cent): Eden has applied for a petroleum exploration licence over a large untested anticlinical structure in central South Australia.
• Geothermal Energy - South Austrlaia (Eden 100 per cent): Holds 8 prospective geothermal licences in South Australia.
• Hydrogen Production Research Project (Eden 50 per cent): Eden entered into an agreement with University of QLD to participate in a research project to try and develop catalysts to enable low temperature / low cost production of hydrogen and carbon black from Natural Gas.