Suspension of Trading

 

TIDMIVE 
 
RNS Number : 5176M 
Irvine Energy PLC 
30 January 2009 
 

Irvine Energy plc / Index: AIM / Epic: IVE / Sector: Exploration & Production 
 
 
30 January 2009 
Irvine Energy plc ("Irvine" or "the Company") 
Notice of Default under GasRock Facility and Suspension of Trading on AIM 
 
 
Irvine Energy plc, the AIM listed oil and gas exploration and 
production company, announces that GasRock Capital LLC has issued a notice 
of default to Irvine in accordance with the credit agreement dated 28 May 2008 
requiring Irvine to pay the outstanding balance of the loan which is 
approximately US$5.6 million. 
 
 
The parties are discussing a work out plan. However, if the discussions are 
unsuccessful, the Company may be unable to continue to trade. 
 
 
Given this uncertainty, Irvine announces that it has requested a suspension, 
with immediate effect, of trading of its shares on AIM, pending clarification of 
the Company's financial position and discussions with GasRock. 
 
 
* * ENDS * * 
 
For further information please visit http://www.irvineenergy.com or contact: 
 
 
+----------+------------+-----------------+ 
| Michael  | Irvine     | Tel:            | 
| Frayne   | Energy     | +44             | 
|          | plc        | (0) 20          | 
|          |            | 7766 7500       | 
+----------+------------+-----------------+ 
| Doug     | Irvine     | Tel:            | 
| Manner   | Energy     | [phone] | 
|          | plc        |                 | 
+----------+------------+-----------------+ 
| Tim      | Evolution  | Tel:            | 
| Redfern  | Securities | +44             | 
|          |            | (0) 20          | 
|          |            | 7071 4300       | 
+----------+------------+-----------------+ 
| Adam     | Evolution  | Tel:            | 
| James    | Securities | +44             | 
|          |            | (0) 20          | 
|          |            | 7071 4300       | 
+----------+------------+-----------------+ 
| Hugo     | St         | Tel:            | 
| de       | Brides     | +44             | 
| Salis    | Media      | (0) 20          | 
|          | &          | 7236 1177       | 
|          | Finance    |                 | 
+----------+------------+-----------------+ 
| Victoria | St         | Tel:            | 
| Thomas   | Brides     | +44             | 
|          | Media      | (0) 20          | 
|          | &          | 7236 1177       | 
|          | Finance    |                 | 
+----------+------------+-----------------+ 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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