GTL Gtl Resources

TIDMGTL

RNS Number : 0363P

GTL Resources PLC

28 September 2011

FOR IMMEDIATE RELEASE 28 September 2011

GTL Resources PLC ("GTL")

Directorate Change and Annual General Meeting ("AGM") Trading Update

At the AGM of GTL Resources PLC (AIM: GTL) to be held today at 10:00am GMT, the Chairman of the US based bio-refining company will make the following statement:

"GTL announces the retirement of Michael Nobbs after six years as a Non-Executive Director with effect from today. The Board would like to express its sincere gratitude to Michael for his guidance and years of service during this transformational period in GTL's history.

In terms of trading, we are pleased to report that margins have improved in recent months. Margins for the six month period ending 30 September 2011 have closely tracked the seasonal margins experienced for the similar six month periods in the previous two years. Our industry margins are largely driven by the commodity prices of ethanol, corn and natural gas. Therefore, forecast visibility is, inevitably, very short-term.

Although industry margins may have some temporary volatility due to the anticipated 31 December 2011 expiration of the ethanol blender's credit (the result of which may be a pre-year end increase, and subsequent post-year end decline), we continue to believe in the long term strength of the ethanol industry. Over the course of 2012, we expect that the 13.2 billion corn based ethanol gallons mandated by RFS2 (up by 0.6 billion gallons over 2011), the steadily growing amount of US ethanol exports, and the gradual introduction of 15% ethanol blends for newer model cars in the US (up from 10% allowable today) together will all have a positive impact on industry demand. These favourable demand factors should continue to support industry margins. As always, our management team continues to improve operations and remains committed to optimising financial results and shareholder value."

For further information please contact:

GTL Resources PLC

Richard Ruebe, Group CEO

+1 630-773-1226

enquiries@gtlresources.com

Cenkos

Elizabeth Bowman

+44 20 7397 8928

Buchanan Communications

Ben Romney

+44 20 7466 5000

This information is provided by RNS

The company news service from the London Stock Exchange

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