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Curzon Energy plc (CZN)

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Tuesday 31 July, 2018

Curzon Energy plc

Issue of Equity and Total Voting Rights

RNS Number : 3500W
Curzon Energy PLC
31 July 2018
 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

 

31 July 2018

 

Curzon Energy Plc

("Curzon Energy" or the "Company")

Issue of Equity and Total Voting Rights

 

Curzon Energy Plc, the 100% owner of the 45,000 acre Coos Bay Coalbed Methane (CBM) Project, announces the following issue of ordinary shares of 1 pence each ("New Ordinary Shares"):

On 31 July 2018, 4,425,616 New Ordinary Shares were issued at a price of £0.08 per share to Mr Barry Liben in satisfaction of the aggregate debt of £354,049.24 owed to him pursuant to a promissory note entered into with the Company on 29 December 2016.

The Company has allotted the New Ordinary Shares, which will rank pari passu with the existing ordinary shares.

Application has been made for the New Ordinary Shares to be admitted to the Official List and it is expected that admission to trading on the Standard Segment of the London Stock Exchange's regulated market for listed securities will take place at 8:00 am on Wednesday 01 August 2018.

Total Voting Rights

Following admission, the total number of ordinary shares in issue and the total number of voting rights in the Company is 77,020,316.

The above figure of 77,020,316 may be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the Disclosure, Guidance and Transparency Rules of the Financial Conduct Authority.

 

For further information please contact:

Curzon Energy Plc

+44 (0) 20 3542 0981

Stephen Schoepfer / Thomas Wagenhofer

 

www.curzonenergy.com 

 

 

 

SP Angel Corporate Finance LLP

+44 (0) 20 3470 0470

Richard Hail

 

 

 

Notes to Editors:

Curzon Energy Plc is the 100% owner of the 45,000-acre Coos Bay Coalbed Methane (CBM) Project, located in Oregon USA. Coos Bay has 2C contingent gas resources of 273.5 BCF. 

The Company is implementing a cost-effective staged development plan, targeting first gas and cash generation from Phase I in Q4 2018. The Phase I work programme consists of the low-cost workover of five existing, and drilling of two new wells.

The Company is led by an experienced Board and senior management team who have extensive industry and financial experience. Curzon Energy is listed on the LSE Main Market under the ticker CZN.

About Coalbed Methane (CBM):

Coalbed methane gas (CBM) (or coal seam gas (CSG) or coal-mine methane (CMM)), is a form of natural gas extracted from coal seams or coal deposits. CBM is generated during the process of coalification which is the transformation of plant material into coal and is contained in the coal microstructure. Typical CBM recovery entails initially pumping water out of the coal to allow the natural gas to escape. Methane is the principal component of the natural gas from CBM production, which is typically made up of ~95 per cent methane and normally does not contain hydrogen sulphide or other sulphur compounds. Natural gas produced from CBM can normally be added to natural gas pipelines without any special treatment.

 

END


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