Temporary Suspension

RNS Number : 2416D

CEB Resources PLC

23 October 2015

 

23 October 2015

CEB Resources plc

("CEB" or the "Company")

Temporary Suspension

CEB Resources plc, the AIM listed investing company, announces that it has requested its shares be temporarily suspended from trading on AIM pending the publication of an announcement at 7:00 a.m. on 26 October 2015 providing an update on the Company's ongoing business and potential investments.

**ENDS**

For further information, please contact:

David Whitby	CEB Resources plc	Tel: [phone]
Cameron Pearce	CEB Resources plc	Tel: [phone]
Lindsay Mair James Thomas	Sanlam Securities UK Limited (Nomad and Joint Broker)	Tel: [phone]
Lucy Williams Charles Goodfellow	Peterhouse Corporate Finance Limited (Joint Broker)	Tel: [phone]
Colin Rowbury	Cornhill Capital (Joint Broker)	Tel: [phone]
Frank Buhagiar	St Brides Partners Limited	Tel: [phone]

Notes:

CEB Resources plc is an AIM listed investing company focused on investing in and/or acquiring companies and/or projects within the natural resources and/or energy sector with potential for growth.  The Company entered into an agreement on 5 June 2015 whereby Corsair Petroleum (Singapore) Pte Ltd ('Corsair'), agreed to assign to CEB its participating interest in a vehicle that intends to consider and, if applicable, invest in oil and gas concessions in Indonesia.   Over the past 18 months Corsair has identified and screened over 60 opportunities, high graded 12, and a detailed technical and commercial evaluation of 9 potential asset acquisition opportunities is well advanced.  The strategic plan is to target short-term cash flow from existing oil production and long-term value assets particularly focussed on the Indonesian gas market, where pricing is high relative to other gas markets.  A farm-in offer for one asset is now under consideration by its existing owners.

 

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