Hurricane Energy PLC Result of General Meeting (7625L)

TIDMHUR

RNS Number : 7625L

Hurricane Energy PLC

21 July 2017

21 July 2017

Hurricane Energy plc

("Hurricane" or the "Company")

Result of 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 General Meeting of the Company held earlier today were duly passed.

Application has been made to the London Stock Exchange for the 731,222,213 Placing Shares to be issued pursuant to the Fundraising to be admitted to trading on AIM ("Admission"), with Admission expected to become effective at 8.00 a.m. on 24 July 2017.

Following Admission, Hurricane's total issued and voting share capital will comprise 1,959,210,336 Ordinary Shares in aggregate. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Terms defined in the circular shall have the same meanings as in this Announcement.

Dr Robert Trice, Chief Executive, commented:

"I am delighted both with the support that our existing Shareholders have shown in approving the Fundraising; and with the enthusiasm that new and existing investors have demonstrated through committing the full funding required to progress the development of Lancaster through the early production system (EPS), subject to Regulatory approval.

We look forward to updating Shareholders with further progress on the EPS and our other assets in due course."

Contacts:

 
                        Dr Robert Trice (Chief 
 Hurricane               Executive Officer)/ 
  Energy                 Alistair Stobie (Chief     [phone] 
  plc                    Financial Officer)          820 
                        Nominated Adviser 
                         and Joint Corporate 
 Cenkos                  Broker 
  Securities             Derrick Lee/Nick           [phone] 
  plc                    Tulloch/Beth McKiernan      6939 
 Stifel 
  Nicolaus              Joint Corporate Broker 
  Europe                 Callum Stewart/Nicholas    [phone] 
  Limited                Rhodes/Ashton Clanfield     7600 
 Vigo Communications    Public Relations            [phone] 
                         Patrick d'Ancona/Ben        9704 
                         Simons                      [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 licence, the Company's most appraised asset, has combined 2P Reserves and 2C Resources of 523 million barrels. In addition, the Company has 205 million barrels of oil equivalent on its Whirlwind licence (under the Whirlwind oil case).

During the 2016-2017 drilling campaign the Company made two significant discoveries* at Halifax and Lincoln, indicating that the Greater Lancaster Area and the Greater Warwick Area have the potential to be two large accumulations.

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

Important Information

This Announcement contains 'forward-looking statements' concerning the Group that are subject to risks and uncertainties. Generally, the words 'will', 'may', 'should', 'continue', 'believes', 'targets', 'plans', 'expects', 'aims', 'intends', 'anticipates' or similar expressions or negatives thereof identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond the Group's ability to control or estimate precisely. The Company cannot give any assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this Announcement. The Company does not undertake any obligation to update or revise publicly any of the forward-looking statements set out herein, whether as a result of new information, future events or otherwise, except to the extent legally required.

Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of the Group or any other person following the implementation of the Placing or otherwise.

This Announcement is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Japan or the Republic of South Africa or any jurisdiction into which the publication or distribution would be unlawful. This Announcement is for information purposes only and does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire shares in the capital of the Company in the United States, Australia, Canada, the Republic of South Africa or Japan or any jurisdiction in which such offer or solicitation would be unlawful or require preparation of any prospectus or other offer documentation or would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

The securities referred to in this Announcement have not been nor will be registered under the United States Securities Act of 1933, as amended ("Securities Act"), and may not be offered, sold or transferred, directly or indirectly, within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the securities laws of any state or other jurisdiction of the United States. No public offering of the securities referred to in this Announcement is being made in the United States, United Kingdom or elsewhere.

This information is provided by RNS

The company news service from the London Stock Exchange

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July 21, 2017 06:25 ET (10:25 GMT)