Oil Quest Resources.... the old Hereward ventures

RNS Number:9025K Hereward Ventures PLC 11 April 2005

Result of EGM, change of name and placing of #3.43 million

On 17 March 2005, the board of Hereward Ventures plc ("Hereward" or the "Company") announced, subject to shareholder approval:

* The sale of Hereward's mineral interests in Bulgaria and Serbia to
Cambridge Mineral Resources plc ("Cambridge") (the "Sale") for an aggregate
consideration of US$1,500,000 (approximately #777,200) to be satisfied by
the issue to Hereward of 7,971,303 Cambridge ordinary shares at a price of
9.75 per share.
* The consolidation of the existing share capital of the Company on the
basis of one new ordinary share for every five existing ordinary shares.
* A change in the Company's name to Oil Quest Resources plc.
* A placing, through Westhouse Securities LLP, of 14,828,l07 new ordinary
shares (on a consolidated basis) at a price of 23.125p per share (equivalent
to 4.625p per existing ordinary share on a non-consolidated basis) to raise
approximately #3,429,000.

http://www.oilquest.net/

http://www.wallstreetreporter.com/linked/OilQuestResourcesplc.html