23 Oct 2015 10:40
23 October 2015
CEB Resources plc
("CEB" or the "Company")
Temporary Suspension
CEB Resources plc, the AIM listed investing company, announces that it has requested its shares be temporarily suspended from trading on AIM pending the publication of an announcement at 7:00 a.m. on 26 October 2015 providing an update on the Company's ongoing business and potential investments.
**ENDS**
For further information, please contact:
David Whitby | CEB Resources plc | Tel: +62 21 2783 2316 |
Cameron Pearce | CEB Resources plc | Tel: +44 (0) 1624 681250 |
Lindsay Mair James Thomas | Sanlam Securities UK Limited (Nomad and Joint Broker) | Tel: +44 (0) 207 628 2200 |
Lucy Williams Charles Goodfellow | Peterhouse Corporate Finance Limited (Joint Broker) | Tel: +44 (0) 207 469 0930 |
Colin Rowbury | Cornhill Capital (Joint Broker) | Tel: +44 (0) 207 710 9610 |
Frank Buhagiar | St Brides Partners Limited | Tel: +44 (0) 207 236 1177 |
Notes:
CEB Resources plc is an AIM listed investing company focused on investing in and/or acquiring companies and/or projects within the natural resources and/or energy sector with potential for growth. The Company entered into an agreement on 5 June 2015 whereby Corsair Petroleum (Singapore) Pte Ltd ('Corsair'), agreed to assign to CEB its participating interest in a vehicle that intends to consider and, if applicable, invest in oil and gas concessions in Indonesia. Over the past 18 months Corsair has identified and screened over 60 opportunities, high graded 12, and a detailed technical and commercial evaluation of 9 potential asset acquisition opportunities is well advanced. The strategic plan is to target short-term cash flow from existing oil production and long-term value assets particularly focussed on the Indonesian gas market, where pricing is high relative to other gas markets. A farm-in offer for one asset is now under consideration by its existing owners.