20 May 2021 07:00
20 May 2021
Hurricane Energy plc
("Hurricane" or the "Company")
Confirmation of details of the Convening Hearing
Further to the practice statement letter published by Hurricane on 30 April 2021 in connection with the restructuring plan (the "Restructuring Plan") proposed under Part 26A of the Companies Act 2006 (the "Practice Statement Letter"), the Company confirms that the Convening Hearing relating to the Restructuring Plan will take place on Friday 21 May 2021 at 10:30 a.m. (London time) before Mr Justice Zacaroli, with case number CR-2021-000852. Attendance at the Convening Hearing will be virtually via Microsoft Teams in light of the COVID-19 pandemic.
The Convening Hearing is for the purposes of seeking an order making certain directions in relation to the Restructuring Plan including permission to convene a single meeting of Bondholders for the purpose of considering and, if thought fit, approving the Restructuring Plan.
The Company also confirms that an updated draft of the Explanatory Statement (including appendices) has been uploaded to the Company's website at www.hurricaneenergy.com.
Capitalised terms used but not defined in this notice shall have the meaning given to them in the Practice Statement Letter.
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Contacts:
Hurricane Energy plc Antony Maris, Chief Executive Officer Philip Corbett, Head of Investor Relations
| +44 (0)1483 862820 |
Stifel Nicolaus Europe Limited Nominated Adviser & Joint Corporate Broker Callum Stewart
| +44 (0)20 7710 7600 |
Investec Bank plc Joint Corporate Broker Chris Sim / Rahul Sharma
| +44 (0)20 7597 5970 |
Vigo Communications Public Relations Patrick d'Ancona / Ben Simons hurricane@vigocomms.com
| +44 (0)20 7390 0230 |
About Hurricane
Hurricane was established to discover, appraise and develop hydrocarbon resources associated with naturally fractured basement reservoirs. The Company's acreage is concentrated on the Rona Ridge, in the West of Shetland region of the UK Continental Shelf.
The Lancaster field (100% owned by Hurricane) is the UK's first producing basement field. Hurricane is pursuing a phased development of Lancaster, starting with an Early Production System consisting of two wells tied-back to the Aoka Mizu FPSO. Hydrocarbons were introduced to the FPSO system on 11 May 2019 and the first oil milestone was achieved on 4 June 2019.
In September 2018, Spirit Energy farmed-in to 50% of the Lincoln and Warwick assets, committing to a phased work programme targeting sanction of an initial stage of full field development.
Visit Hurricane's website at www.hurricaneenergy.com
Inside Information
This announcement does not contain inside information.