Possible Offer for Tethys Petroleum

RNS Number : 5390V

Nostrum Oil & Gas PLC

10 August 2015

 



Amsterdam, 10 August 2015

Possible offer for Tethys Petroleum

Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or "the Company"), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, notes the announcement today by Tethys Petroleum Limited ("Tethys") and confirms that it has made a further approach to Tethys about a possible offer for the entire issued share capital of Tethys at C$0.2185 per Tethys share. 

Following this approach, Tethys and Nostrum have negotiated a US$5 million loan financing in order to support short-term liquidity of Tethys during the period in which any formal offer may be implemented.  Tethys has also agreed to grant exclusivity to Nostrum until 25 August 2015 for the purposes of conducting due diligence on Tethys.

This announcement is not an announcement of a firm intention to make an offer for Tethys (an "Offer") and there can be no certainty that any Offer will be made, nor as to the terms on which any Offer might be made.  Any Offer for Tethys will not be subject to the provisions of The City Code on Takeovers and Mergers.

A further announcement will be made in due course as appropriate. 

Further information

For further information please visit www.nog.co.uk 

Further enquiries

Nostrum Oil & Gas PLC - Investor Relations

Kirsty Hamilton-Smith

Bruno G. Meere

Rachel Pescod

[phone]

[e-mail]                                                                                                    

Instinctif Partners - UK                                                                                                 

David Simonson

Anca Spiridon

+ 44 (0) 207 457 2020

Promo Group Communications - Kazakhstan

Asel Karaulova           

+ 7 (727) 264 67 37

About Nostrum Oil & Gas

Nostrum Oil & Gas PLC is an independent oil and gas company currently engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin. Its shares are listed on the London Stock Exchange (ticker symbol: NOG). The principal producing asset of Nostrum Oil & Gas PLC is the Chinarevskoye field, in which it holds a 100% interest and is the operator through its wholly-owned subsidiary Zhaikmunai LLP. In addition, Nostrum Oil & Gas holds a 100% interest in and is the operator of the Rostoshinskoye, Darinskoye and Yuzhno-Gremyachenskoye oil and gas fields through the same subsidiary. Located in the pre-Caspian basin to the north-west of Uralsk, these exploration and development fields are situated approximately 60 and 120 kilometres respectively from the Chinarevskoye field.

Forward-Looking Statements

Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of the Partnership or its officers with respect to various matters. When used in this document, the words "expects," "believes," "anticipates," "plans," "may," "will," "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements.

No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity, and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by the Listing Rules and applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.

 

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