ROC and AEL Merger approved by AEL Shareholders

    RNS Number : 6160C
  Roc Oil Company Limited
  03 September 2008
   



    3 September 2008 


    ROC OIL COMPANY LIMITED ("ROC")

    STOCK EXCHANGE RELEASE


    ROC MERGER WITH ANZON ENERGY LIMITED ("AEL")
    APPROVED BY AEL SHAREHOLDERS


    ROC is pleased to announce that the shareholders of AEL today voted overwhelmingly in favour of the scheme of arrangement ("Scheme") to
implement the merger of ROC with AEL.  

    The Scheme is now subject to the further approval of the Court with a Court hearing scheduled for Friday 5 September 2008. Assuming
Court approval is obtained, AEL is expected to lodge a copy of the Court order with ASIC on 8 September 2008, upon which the Scheme will
become effective. It is expected the Scheme will be implemented on 22 September 2008, and AEL will become a wholly owned subsidiary of ROC.

    Upon the Scheme becoming effective, ROC will acquire AEL's 53.1% controlling interest in Anzon Australia Limited ("AZA") and the
off-market Takeover Offer for AZA will be declared unconditional. The Takeover Offer is currently scheduled to close at 7.00pm (AEST) on 6
October 2008 (unless extended). 

    ROC's Acting Chief Executive Officer, Bruce Clement, stated:

    "I welcome AEL shareholder support for the merger with ROC. This merger is a positive step in ROC's off-market Takeover Offer for AZA by
providing ROC with a controlling 53.1% interest in AZA.

    ROC believes the AZA Takeover Offer, if successful, will deliver a number of advantages to both AZA and ROC shareholders. It will remove
the single asset risk and a corporate structure which has restricted growth for AZA shareholders and it has the potential to transform ROC
by creating a significant Australian upstream oil and gas company with a strong diversified asset base, 2P Reserves of 47MMBOE, increased
financial capacity and expose ROC to significant upside reserves potential from the development of Basker Manta Gummy Project in Bass Strait
over the next 18 months.

    ROC encourages AZA shareholders to accept the Takeover Offer as soon as possible."


    Bruce Clement
    Acting Chief Executive Officer 
    For further information please contact:

    Mr Bruce Clement
    Acting Chief Executive Officer
    Tel: [phone]
    Fax: [phone]
    Email: [e-mail]

    Mr Matthew Gerber
    Manager, Investor Relations & External Affairs
    Tel: [phone]
    Fax: [phone]
    Email: [e-mail]
    Or visit ROC's website: www.rocoil.com.au

    Dr Kevin Hird
    General Manager - Business Development
    Tel: [phone]
    Mob: [phone]
    Email:  [e-mail]

    Michael Shaw
    Oriel Securities Limited (Nominated Adviser)
    Tel: [phone]

    Bobby Morse
    Buchanan Communications
    Tel: + 44 (0)20 7466 5000
    Fax: + 44 (0)20 7466 5001
    E-Mail: [e-mail]
    Mob: [phone]


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
MERGBGDCRUGGGIX