Last checked at 14 Jun 2012 16:09
14 June 2012
Bayfield Energy Holdings plc
Financing Update
In its preliminary results announcement of 28 May, Bayfield Energy Holdings plc (AIM ticker: BEH), an upstream oil and gas exploration and production company with interests in Trinidad and South Africa, stated that it was taking steps to secure additional finance. In the past few weeks the Company has sought to complete an equity fund-raising. The further deterioration in market conditions has made it impossible to complete the fund-raising to the level required at this time, despite success in securing a measure of institutional support. The Company has, accordingly, terminated the process. It is continuing to pursue other financing alternatives and taking steps to reduce and reschedule future commitments and will update the market on its progress in due course.
-ends-
For further information please contact:
Bayfield Energy
+44 (0)20 7920 2330
Hywel John, Chief Executive Officer
Seymour Pierce
+44 (0)20 7107 8000
Jonathan Wright/Stewart Dickson (Corporate Finance)
Richard Redmayne/David Banks (Corporate Broking)
FirstEnergy Capital LLP + 44 (0)20 7448 0200
Derek Smith / Hugh Sanderson
M:Communications
Patrick d'Ancona +44 (0)20 7920 2347
Ann-marie Wilkinson +44 (0)20 7920 2343
Andrew Benbow +44 (0)20 7920 2344