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22 Dec 2009 07:09
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ENEGI OIL PLCĀ
Trading symbols:Ā
London Stock Exchange: ENEGĀ
Bourse de Luxembourg: GB00B29T9605Ā
22 December 2009Ā
Enegi Oil PlcĀ
('Enegi' or 'the Company')Ā
Option with CIVC Creditor Corporation exercised
Further to the announcement on 15thĀ 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 OilĀ |
Tel: + 44 161 817 7460Ā |
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Alan Minty, CEOĀ |
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Cenkos SecuritiesĀ |
Tel: + 44 207 397 8900Ā |
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Joe NallyĀ |
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Stephen KeysĀ |
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Fox-Davies Capital |
Tel: + 44 207 936 5200 |
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Daniel Fox-Davies |
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College HillĀ |
Tel: + 44 207 457 2020Ā |
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Nick ElwesĀ |
www.enegioil.comĀ
Qualified PersonsĀ
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 CompanyĀ
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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