Last checked at 30 Jun 2014 12:35
30 June 2014
Clontarf Energy plc
("Clontarf" or "the Company")
Highlights of the Chairman's Statement to the AGM of
Clontarf Energy Plc held In London at 11am Monday June 30th 2014
1. Efforts continue to resolve the dispute between Pan Andean Resources Ltd (Clontarf 60%) and the authorities in Ghana relating to the Tano 2A licence. The adjourned court proceedings come up for mention on July 7th.
2. The Licence holder of block 183 in Peru, POGEL, expects to appoint an operator in the immediate future to undertake an exploration programme (Clontarf holds a 3 per cent royalty interest capped at $10m). The target is gas to supply a power plant in the area to be built by Ruralec, a company which is connected to POGEL. The prospectivity of 183 has been enhanced by recent discoveries by CEPSA on an adjacent block.
3. While the board is focused on the resolution of the Ghanaian dispute it continues to evaluate new projects, new directors and new sources of finance.
4. All resolutions were duly passed at the meeting.
For further information please visit http://clontarfenergy.com or contact:
Clontarf Energy plc
John Teeling, Chairman +353 (0) 1 833 2833
James Finn, Director
Nominated Adviser and Joint Broker
Northland Capital Partners Limited
Gavin Burnell +44 (0)20 7382 1100
Lauren Kettle
Public Relations
Blytheweigh +44 (0)20 7138 3204
Tim Blythe +44 (0) 7816 924 626
Halimah Hussain +44 (0) 7725 978 141
Camilla Horsfall +44 (0) 7871 841 793
Pembroke Communications
Natalie Tennyson +353 (0) 1 649 6486
Alan Tyrrell +353 (0) 1 649 6486