Eland Oil & Gas PLC Result of Annual General Meeting (1919O)

TIDMELA

RNS Number : 1919O

Eland Oil & Gas PLC

15 May 2018

15 May 2018

Eland Oil & Gas PLC

("Eland" or the "Company")

Result of Annual General Meeting

Eland Oil & Gas PLC (AIM: ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, is pleased to announce that all resolutions put to shareholders at the Company's Annual General Meeting today were duly passed.

Set out below are the voting proxies in respect of the resolutions received by the Company at the close of register at midday on Friday 11 May 2018. The number of voting ordinary shares in issue at that date was 220,164,155.

 
 Resolution           For          %       Against     %      Total Votes        Withheld 
                                                               Cast (excl. 
                                                               Votes Withheld) 
-------------------  -----------  ------  ----------  -----  -----------------  --------- 
 Resolution 
  1 
  COMPANY ACCOUNTS    63,354,755   99.99   0           0.00   63,361,355         1,000 
-------------------  -----------  ------  ----------  -----  -----------------  --------- 
 Resolution 
  2 
  RE-ELECT 
  HENRY TURCAN        58,471,367   92.28   4,883,388   7.71   63,361,355         1,000 
-------------------  -----------  ------  ----------  -----  -----------------  --------- 
 Resolution 
  3 
  ELECT BRIAN 
  O'CATHAIN           63,354,755   99.99   0           0.00   63,361,355         1,000 
-------------------  -----------  ------  ----------  -----  -----------------  --------- 
 Resolution 
  4 
  ELECT RONALD 
  BAIN                63,354,555   99.99   200         0.00   63,361,355         1,000 
-------------------  -----------  ------  ----------  -----  -----------------  --------- 
 Resolution 
  5 
  APPOINT AUDITOR     63,354,755   99.99   0           0.00   63,361,355         1,000 
-------------------  -----------  ------  ----------  -----  -----------------  --------- 
 Resolution 
  6 
  AUDITORS 
  REMUNERATION        63,354,755   99.99   0           0.00   63,361,355         1,000 
-------------------  -----------  ------  ----------  -----  -----------------  --------- 
 Resolution 
  7 
  DIRECTORS 
  TO ALLOT 
  SHARES              63,351,413   99.98   3,342       0.01   63,361,355         1,000 
-------------------  -----------  ------  ----------  -----  -----------------  --------- 
 Resolution 
  8 
  ALLOT EQUITY 
  SECURITIES          57,223,525   90.31   6,131,230   9.68   63,361,355         1,000 
-------------------  -----------  ------  ----------  -----  -----------------  --------- 
 Resolution 
  9 
  MARKET PURCHASES    63,354,755   99.99   0           0.00   63,361,355         1,000 
-------------------  -----------  ------  ----------  -----  -----------------  --------- 
 

For further information:

Eland Oil & Gas PLC ([phone])

www.elandoilandgas.com

George Maxwell, CEO

Ron Bain, CFO

Finlay Thomson, IR

Canaccord Genuity Limited ([phone])

Henry Fitzgerald O'Connor / James Asensio

Panmure Gordon (UK) Limited ([phone])

Adam James / Atholl Tweedie

James Stearns

Camarco ([phone])

Billy Clegg / Georgia Edmonds / Tom Huddart

Notes to editors:

Eland Oil & Gas is an AIM-listed independent oil and gas company focused on production and development in West Africa, particularly the highly prolific Niger Delta region of Nigeria.

Through its joint venture company Elcrest, Eland's core asset is OML 40 which is in the Northwest Niger Delta approximately 75km northwest of Warri and has an area of 498km(2). In addition, the Company has a 40% interest in the Ubima Field, onshore Niger Delta, in the northern part of Rivers State.

The OML 40 licence holds gross 2P reserves of 83.4 mmbbls, gross 2C contingent resources of 40.4 mmbbls and a best estimate of 254.5 mmbbls of gross unrisked prospective resources.* The Ubima field holds gross 2P reserves of 2.4 mmbbls of oil and gross 2C resource estimates of 31.1 mmbbl.**

Net production figures relate to Elcrest Exploration and Production Nigeria Ltd ("Elcrest"), Eland's joint venture company. Production rates, when oil is exported via Forcados, are as measured at the Opuama PD meter, are subject to reconciliation and will differ from sales volumes.

This information is provided by RNS

The company news service from the London Stock Exchange

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May 15, 2018 12:33 ET (16:33 GMT)