Total Voting Rights

RNS Number : 6454I

SEPLAT Petroleum Development Co PLC

02 June 2014

 



Total Voting Rights and Capital

Lagos and London, 2 June 2014: In accordance with the Financial Conduct Authority's (FCA) Disclosure and Transparency Rule 5.6.1R, Seplat Petroleum Development Company PLC ('the Company') hereby notifies the market that as of 31 May 2014, the Company's issued share capital consists of 553,310,313 ordinary shares with voting rights. There are no ordinary shares held in Treasury.

The above figure (553,310,313) may be used by shareholders (and others with notification obligations) as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

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, CFO                                                                                                                David Boyd, Investor Relations Chioma Nwachuku, GM - Corporate Affairs & Business Development	[phone] [phone] [phone]
FTI Consulting Ben Brewerton / Sara Powell / George Parker [e-mail]	+ 44 203 727 1000

DISCLAIMER

FORWARD-LOOKING STATEMENTS

This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company's control and all of which are based on the Company's current beliefs and expectations about future events. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company's business, results of operations, financial position, liquidity, prospects, growth, strategies and the oil and gas business. Forward-looking statements speak only as of the date they are made and cannot be relied upon as a guide to future performance.

 

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