12 Jun 2014 07:00
For immediate release: 12 June 2014
Zoltav Resources Inc.
("Zoltav" or the "Company")
Issue of Equity
Zoltav, the CIS-focused oil and gas company announces that, following the receipt of a notice to exercise warrants over 100,000 ordinary shares of $US0.2 in the Company ("Ordinary Shares") it has authorised the issue of 100,000 new Ordinary Shares (the "Warrant Exercise").
The new Ordinary Shares will rank pari passu with the existing Ordinary Shares. Application has been made for admission of the new Ordinary Shares to trading on AIM and admission is expected to occur on 13 June 2014.
Following the Warrant Exercise, there will be 61,810,780 Ordinary Shares in issue. This number may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.
Contacts:
Zoltav Resources Inc. | Tel. +44 (0)20 7016 9570 |
Symon Drake-Brockman, 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 development company building a portfolio of assets in the CIS. Zoltav has a 100 per cent. interest in the Koltogor Exploration and Production Licence and neighbouring Koltogor Exploration Licence 10 located in the Khantiy-Mansisk Autonomous Okrug of Western Siberia. The Koltogor Licence contains the Koltogor oil discovery with probable reserves of 73.5 million barrels of oil. Zoltav is engaged in an exploration and appraisal programme of the Koltogor Licences with a view to developing the fields for commercial oil production.
In parallel with its operations at Koltogor, Zoltav continues to review other oil and gas acquisition opportunities across the CIS, with a particular emphasis on the Russian Federation.
The Company has announced the proposed acquisition of Royal Atlantic Energy (Cyprus) Limited which, through a subsidiary, holds the Bortovoy Licence in the Saratov Oblast of the Russian Federation, containing a number of gas fields and probable reserves of 137.4 million barrels of oil equivalent; and in 2013 produced approximately 13.9 billion cubic feet of gas and 0.3 million barrels of condensate and oil.