10 Feb 2021 07:00
10 February 2021
Advance Energy plc
("Advance Energy" or the "Company")
Termination of Wessex Basin Licences
Advance Energy plc (AIM:ADV), the energy company seeking growth through acquisition or farm-in to non-operated interests in discovered upstream projects, announces that offshore P1918 Colter & Colter South licence, and onshore PEDL 330 and PEDL 345 licences (together the "Wessex Basin Licences") have terminated with effect from 31 January 2021.
Offshore P1918 Colter & Colter South Licence
The Company's wholly owned subsidiary Resolute Oil & Gas (UK) Limited ("Resolute") held an 8% non-operated working interest in the P1918 licence. The second term of the P1918 Licence expired on 31 January 2021 without being renewed.
Onshore PEDL 330 & 345 Licences
The Company's wholly owned subsidiary Resolute held an 8% non-operated interest in the PEDL 330 and PEDL 345 licences. In accordance with the Operator's recommendation, the PEDL 330 and PEDL 345 licences were relinquished with an effective date of 31 January 2021.
Accordingly, with effect from 31 January 2021 the Company no longer holds any interests in the Wessex Basin Licences.
Enquiries:
Advance Energy plc | |
Leslie Peterkin (CEO) / Stephen West (CFO) | +44 (0)1624 681 250 |
Strand Hanson Limited (Financial and Nominated Adviser) | |
James Harris / Rory Murphy / Georgia Langoulant | +44 (0)20 7409 3494 |
Buchanan (Public Relations) |
|
Ben Romney / Kelsey Traynor | +44 (0)20 7466 5000 |
Tennyson Securities (Joint Broker) |
|
Peter Krens / Ed Haig-Thomas | +44 (0)20 7186 9030 |
Optiva Securities Limited (Joint Broker) |
|
Christian Dennis | +44 (0)20 3411 1881 |
For further information, please visit www.advanceplc.com and @advanceplc on Twitter
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