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22 Dec 2009 07:09
ENEGI OIL PLC
Trading symbols:
London Stock Exchange: ENEG
Bourse de Luxembourg: GB00B29T9605
22 December 2009
Enegi Oil Plc
('Enegi' or 'the Company')
Option with CIVC Creditor Corporation exercised
Further to the announcement on 15th December 2009, and completion of the recent placing, the Company is delighted to announce that it has exercised the option with CIVC Creditor Corporation ("CCC") for full and final settlement of and release from all obligations, including removal of its mortgage over certain of PDIP's hydrocarbon assets.
Alan Minty, CEO of Enegi Oil commented:
"Now that all our obligations to CCC have been settled, we have complete control over our assets. Next year will be an exciting time for the company"
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Enegi Oil |
Tel: + 44 161 817 7460 |
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Alan Minty, CEO |
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Cenkos Securities |
Tel: + 44 207 397 8900 |
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Joe Nally |
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Stephen Keys |
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Fox-Davies Capital |
Tel: + 44 207 936 5200 |
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Daniel Fox-Davies |
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College Hill |
Tel: + 44 207 457 2020 |
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Nick Elwes |
www.enegioil.com
Qualified Persons
The information in this release has been reviewed by Barath Rajgopaul MSc (Mech. Eng.) C. Eng, a director of Enegi. Mr. Rajgopaul has over 25 years experience in the petroleum industry.
The Company
Enegi Oil Plc is an independent oil and gas group whose objective is the identification, development and operation of hydrocarbon opportunities. The Group's current operations are focused on assets on and around the Port au Port Peninsula in Newfoundland, which, although lightly explored, is in an active petroleum system with light oil having previously been discovered there. The Group's assets include Garden Hill South, Shoal Point, Garden Hill Central, Garden Hill North and Lourdes.
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