13 Jan 2015 07:00
Embargoed: 0700hrs 13 January 2015
Zoltav Resources Inc.
("Zoltav" or the "Company")
Holdings in Company
Zoltav (AIM: ZOL), the CIS-focused oil and gas exploration and production company, announces that it was notified on 12 January 2015 that on 9 January 2015 Erlinad Holdings Limited ("Erlinad"), a company which is ultimately wholly beneficially owned by Mr. David Davidovich, acquired 6,353,568 ordinary shares in the Company ("Ordinary Shares"). As a result of this transaction Erlinad is interested in 6,353,568 Ordinary Shares, equivalent to 4.48 per cent. of the Company's issued share capital.
Zoltav was also notified on 12 January 2015 that on 9 January 2015 Matteson Overseas Limited ("Matteson") disposed of 6,353,568 Ordinary Shares, equivalent to 4.48 per cent. of the Company's issued share capital. As a result of this transaction Matteson no longer holds any Ordinary Shares.
Contacts:
Zoltav Resources Inc. | Tel. +44 (0)20 7016 9570 |
Alastair Ferguson, Executive Chairman | (via Vigo Communications) |
Shore Capital (Nomad and Broker) | Tel. +44 (0)20 7408 4090 |
Pascal Keane or Toby Gibbs (Corporate Finance) | |
Jerry Keen (Corporate Broking) | |
Vigo Communications | Tel. +44 (0)20 7016 9570 |
Patrick d'Ancona or Ben Simons | |
About Zoltav
Zoltav is an oil and gas exploration and production company focused on acquiring assets in the CIS, particularly in the Russian Federation.
Zoltav holds the Bortovoy Licence in the Saratov region of South Western Russia, a 3,215 square kilometre area along the northern margin of the Pre-Caspian basin, one of the largest hydrocarbon basins in the CIS.
The Bortovoy Licence contains a number of productive gas fields, a processing plant and significant exploration prospectivity. It holds Proved plus Probable reserves of 750 billion cubic feet (21.2 billion cubic metres) of gas and 3.9 million barrels of oil and condensate. In 2013 the Bortovoy Licence produced 13.9 billion cubic feet (392.6 million cubic metres) of gas and 300,000 barrels of condensate and oil.
Zoltav also holds the Koltogor Exploration and Production Licence, a 528 square kilometre area in the Khantiy-Mansisk Autonomous Okrug of Western Siberia, one of Russian's most prolific oil producing regions.
The Koltogor Exploration and Production Licence contains the Koltogor oil field with Proved plus Probable reserves of 75.2 million barrels of oil. Zoltav is engaged in an appraisal programme of the Koltogor oil field with a view to developing the field for commercial production.
Additionally, Zoltav holds Koltogor Exploration Licence 10, a 167 square kilometre area due west of the Koltogor Exploration and Production Licence on which Zoltav is engaged in an exploration and appraisal programme which includes targeting the Bazhenov shale formation from which the company has recovered oil.
For further information on Zoltav or to sign up for the news alert service visit: www.zoltav.com