17 Jun 2014 10:54
For immediate release: 17 June 2014
Zoltav Resources Inc.
("Zoltav" or the "Company")
Result of Annual General Meeting
Further to the announcement of 23 May 2014 in relation to the publication of the Company's AIM Admission Document, Proposed Acquisition of Royal Atlantic Energy (Cyprus) Limited, Subscription, Restoration of Trading on AIM and Notice of Annual General Meeting, Zoltav (AIM:ZOL), the CIS-focused oil and gas company, is pleased to announce that all resolutions proposed at the Annual General Meeting of the Company held earlier today were duly passed.
Trading on AIM of the Existing Ordinary Shares of the Company will be cancelled, and re-admission and dealings in new Ordinary Shares in Zoltav will commence on AIM at 8 a.m. tomorrow.
Capitalised terms used but not defined in this announcement have the same meaning as given to them in the Admission Document
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 Exploration and Production Licence contains the Koltogor oil discovery with proved plus probable reserves of approximately 75 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 proved plus probable reserves of approximately 137.4 million barrels of oil equivalent. In 2013 the Bortovoy Licence produced approximately 13.9 billion cubic feet of gas and 0.3 million barrels of condensate and oil.