Share Name Share Symbol Market Type Share ISIN Share Description
Nu-Oil & Gas LSE:NUOG London Ordinary Share GB00B29T9605 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.04p +4.35% 0.96p 0.91p 1.01p - - - 0 07:30:29
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -1.7 -0.2 - 12.98

Nu-Oil and Gas PLC Exercise of Warrants

15/02/2018 12:30pm

UK Regulatory (RNS & others)

Nu-Oil & Gas (LSE:NUOG)
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6 Months : From Dec 2017 to Jun 2018

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RNS Number : 0280F

Nu-Oil and Gas PLC

15 February 2018

15 February 2018

Nu-Oil and Gas plc

("Nu-Oil" or the "Company")

Exercise of Warrants

The Company announces that it has received an exercise notice from Island Investments Holdings Limited for the exercise of 15,000,000 warrants over ordinary shares of 0.1p each in the capital of the Company ("Ordinary Shares") at an exercise price of 0.40p per warrant.

Total Voting Rights

Application has been made for admission of these 15,000,000 new Ordinary Shares to trading on AIM ("Admission") and it is expected that Admission will take place at 8.00 a.m. on 21 February 2018. Following Admission, there will be a total of 1,233,592,348 Ordinary Shares in issue. As per the announcement of 23 December 2013, the Company holds 12,325,378 Treasury shares. Shareholders should therefore use the figure of 1,221,266,970 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, the Company under the FCA's Disclosure and Transparency Rules.


 Nu-Oil and Gas plc 
 Simon Bygrave                          Tel: +44 (0)161 817 7460 
  Investor Relations & Communications 
 Nigel Burton                           Tel: +44 (0)7785 234447 
  Chief Executive Officer 
 Strand Hanson Limited                  Tel: +44 (0)20 7409 3494 
  Rory Murphy/Ritchie Balmer/Jack 
 Beaufort Securities Limited            Tel: +44 (0)20 7382 8300 
 Jon Belliss 
  Elliot Hance 

Note to Editors

The Company

Nu-Oil is a development and production company, which utilises appropriate development approaches to create value from undeveloped and mature oil and gas assets. Nu-Oil is building a portfolio of development and production assets with an emphasis on stranded and marginal discoveries which can be unlocked using cost-effective development solutions.

Nu-Oil targets thoroughly appraised fields located in basins with stable political and regulatory regimes. By doing so Nu-Oil minimises exposure to the risks associated with frontier plays, particularly exploration and appraisal risks.

Nu-Oil's 50% owned subsidiary, Marginal Field Development Company Ltd. ("MFDevCo"), has developed offshore production solutions that improve the economics of oil projects by significantly lowering development costs compared to conventional approaches. To implement its solutions, MFDevCo has established the Marginal Field Delivery Consortium ("the Consortium"), a group of leading global engineering specialists who provide the skills and capability required to deliver projects. Nu-Oil will utilise MFDevCo solutions and the capability within the Consortium to develop and deliver its projects.


The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

This information is provided by RNS

The company news service from the London Stock Exchange



(END) Dow Jones Newswires

February 15, 2018 07:30 ET (12:30 GMT)

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