Results of AGM

RNS Number : 5425Q

Hurricane Energy PLC

06 June 2018

 

6 June 2018

Hurricane Energy plc

("Hurricane" or the "Company")

Results of Annual General Meeting

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announces that all resolutions put to shareholders at the Annual General Meeting ("AGM") of the Company held earlier today were duly passed.

The AGM was held today, 6 June 2018 at: The Science Suite, Royal Society of Chemistry, Burlington House, Piccadilly, London, W1J 0BA at 11.00am. Each of the resolutions contained in the Notice of Meeting were put to the AGM, voted on by way of a poll, and duly approved.

The total number of votes received on each resolution put to the AGM, as more fully disclosed in the Notice of Meeting available on the Company's website, was as follows:

#	Resolution	Votes FOR	%	Votes AGAINST	%	Votes TOTAL	% ISC Voted	Votes WITHELD
1	Receive Annual Report and Group Financial Statements	1,124,408,632	99.45	6,241,043	0.55	1,130,649,675	57.70%	2,300
2	Re-appoint Deloitte LLP as Company's auditors	1,124,382,764	99.99	56,700	0.01	1,124,439,464	57.38%	6,246,843
3	Elect Steven McTiernan	1,127,871,899	99.81	2,159,295	0.19	1,130,031,194	57.67%	655,113
4	Re-elect Roy Kelly	1,112,413,995	98.38	18,270,312	1.62	1,130,684,307	57.70%	2,000
5	Re-elect Dr David Jenkins	1,119,993,500	99.05	10,690,807	0.95	1,130,684,307	57.70%	2,000
6	Renew authority to allot shares in the Company	1,130,482,584	99.99	145,087	0.01	1,130,627,671	57.70%	58,636
7	* Authority to allot shares for cash free of pre-emptive rights	1,130,015,996	99.94	645,922	0.06	1,130,661,918	57.70%	24,389
8	* Approve amended Articles of Association	1,123,402,730	99.36	7,250,705	0.64	1,130,653,435	57.70%	32,872

Notes:

·     * denotes Special Resolutions.

·     The "For" proxy vote includes those giving the Chairman discretion.

·     A vote "Withheld" is not a vote in law and is not counted in the calculation of the proxy votes "For" or "Against" the resolution.

·     Votes "For" and "Against" are expressed as a percentage of all proxy votes received in advance of the AGM, excluding any "Withheld" votes.

·     % ISC voted denotes the votes instructed for each resolution as a percentage of the issued share capital at the deadline for casting votes by proxy in advance of the AGM, being 1,959,551,637 shares.

Contacts: 

Hurricane Energy plc	Dr Robert Trice (Chief Executive Officer) / Alistair Stobie (Chief Financial Officer)	[phone]
Stifel Nicolaus Europe Limited	Nominated Adviser and Corporate Broker Callum Stewart / Nicholas Rhodes / Ashton Clanfield	[phone]
Vigo Communications	Public Relations Patrick d'Ancona / Ben Simons	[phone] [e-mail]

About Hurricane

Hurricane was established to discover, appraise and develop hydrocarbon resources associated with naturally fractured basement reservoirs.

Hurricane's acreage is concentrated on the Rona Ridge, West of Shetland. The Lancaster field, the Company's most appraised asset, has combined 2P Reserves and 2C Contingent Resources of 523 million stock tank barrels of oil. The Company is currently proceeding towards the first phase of development of Lancaster, an Early Production System, with first oil targeted for 1H 2019.

During the 2016-2017 drilling campaign, the Company made two significant discoveries* at Halifax and Lincoln. Together, these discoveries* have 2C Contingent Resources of 1,839 million barrels of oil equivalent.

Hurricane's other assets include Warwick, which has best case Prospective Resources of 935 million stock tank barrels of oil, Whirlwind, which has 2C Contingent Resources of 205 million barrels of oil equivalent (under the Whirlwind oil case) and Strathmore, which has 2C Contingent Resources of 32 million stock tank barrels of oil. Together, this brings Hurricane's total combined 2P Reserves and 2C Contingent Resources to 2.6 billion barrels of oil equivalent.

*Discovery - This classification is consistent with SPE/AAPG/WPC and SPEE guidelines for Petroleum Resource Management - Determination of Discovery Status

Inside Information

The content of this announcement does not comprise price sensitive information.

 

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