Highlights of the Chairman's Statement to the AGM

RNS Number : 9127K

Clontarf Energy PLC

30 June 2014

 



30 June 2014

Clontarf Energy plc

("Clontarf" or "the Company")

Highlights of the Chairman's Statement to the AGM of

Clontarf Energy Plc held In London at 11am Monday June 30^th 2014

1.           Efforts continue to resolve the dispute between Pan Andean Resources Ltd (Clontarf 60%) and the authorities in Ghana relating to the Tano 2A licence. The adjourned court proceedings come up for mention on July 7^th.

2.           The Licence holder of block 183 in Peru, POGEL, expects to appoint an operator in the immediate future to undertake an exploration programme (Clontarf holds a 3 per cent royalty interest capped at $10m). The target is gas to supply a power plant in the area to be built by Ruralec, a company which is connected to POGEL. The prospectivity of 183 has been enhanced by recent discoveries by CEPSA on an adjacent block.

3.           While the board is focused on the resolution of the Ghanaian dispute it continues to evaluate new projects, new directors and new sources of finance.

4.            All resolutions were duly passed at the meeting.

For further information please visit http://clontarfenergy.com or contact:

Clontarf Energy plc

John Teeling, Chairman                                                                                        [phone]

James Finn, Director

Nominated Adviser and Joint Broker

Northland Capital Partners Limited

Gavin Burnell                                                                                                            [phone]

Lauren Kettle

Public Relations

Blytheweigh                                                                                                             [phone]

Tim Blythe                                                                                                                 [phone]

Halimah Hussain                                                                                                     [phone]

Camilla Horsfall                                                                                                       [phone]

Pembroke Communications

Natalie Tennyson                                                                                                   [phone]

Alan Tyrrell                                                                                                                [phone]

 

END

 

 

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