Result of AGM

RNS Number : 9402K

SEPLAT Petroleum Development Co PLC

30 June 2014

 



30 June 2014

SEPLAT Petroleum Development Company Plc

("SEPLAT" or the "Company")

Results of AGM

SEPLAT Petroleum Development Company Plc announces that at its Annual General Meeting held earlier today, all resolutions put to shareholders were duly passed.

Details of the proxy votes lodged with the Company's registrars will be available on SEPLAT''s website http://seplatpetroleum.com/ shortly.   

Copies of the resolutions passed which are not in the ordinary course of business will shortly be available for inspection at the National Storage Mechanism, which is located at: http://www.morningstar.co.uk/uk/nsm.

-Ends-

Notes to editors:

SEPLAT Petroleum Development Company ("SEPLAT" or "the Company") is a leading indigenous oil and gas exploration and development company with a strategic focus on Nigeria, listed on the Main Market of the London Stock Exchange ("LSE") (LSE:SEPL) and Nigerian Stock Exchange ("NSE") (NSE:SEPLAT). In July 2010, SEPLAT acquired a 45 per cent participating interest in, and was appointed operator of, a portfolio of three onshore producing oil and gas leases in the Niger Delta (OMLs 4, 38 and 41), which includes the Oben, Ovhor, Sapele, Okporhuru, Amukpe and Orogho fields. Since acquisition, SEPLAT has more than tripled production on the three OMLs to over 59 mbbl/d in March 2014, and the Company is targeting 85 mbbl/d by the end of 2016. DMCL estimates that the Company's working interest proved plus probable reserves ("2P") in OMLs 4, 38 and 41 amount to 101,756 mbbl of oil and condensate and 573.5 bcf of gas as of 31 October 2013. In June 2013, Newton Energy, a wholly-owned subsidiary of the Company, entered into an agreement with Pillar Oil to acquire a 40 per cent participating interest in the Umuseti/Igbuku Fields, adding approximately 9.7 mmbbl to the Group's 2P oil and condensate reserves and 89.8 bcf of gas. SEPLAT is pursuing a Nigeria focused acquisition strategy and is well-positioned to participate in future divestment programmes by the international oil companies operating in the Niger Delta. For further information please refer to the company website, http://seplatpetroleum.com/.

 Enquiries

SEPLAT Petroleum Development Company Plc Roger Brown, Chief Financial Officer David Boyd, Investor Relations Chioma Nwachuku, GM - Corporate Affairs & Business Development	[phone] [phone] [phone]
FTI Consulting Ben Brewerton / Sara Powell / George Parker	[phone] [e-mail]
Citigroup Global Markets Limited Tom Reid / Miguel Azevedo / Chris Bucknall / Samit Parekh	[phone]
RBC Europe Limited Tim Chapman / Stephen Foss / Matthew Coakes / Jakub Brogowski	[phone]

 

END

 

 

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