Nexus Energy accepts ROC's Ta

RNS Number : 9017E

Roc Oil Company Limited

02 October 2008

 

2 October 2008

ROC OIL COMPANY LIMITED ('ROC')

STOCK EXCHANGE RELEASE

NEXUS ENERGY LIMITED ('NEXUS') ACCEPTS ROC TAKEOVER OFFER FOR ANZON AUSTRALIA LIMITED ('AZA')

Following the announcement yesterday by Nexus that it intended to accept ROC's takeover over for AZA, ROC has now received acceptances from Nexus in respect of its holding of 71.3 million shares (19.2%) in AZA. 

ROC and its associates now have a relevant interest of 89.64% and, assuming it obtains a relevant interest of more than 90% in the next few days, intends to close the takeover offer at 7.00pm (AEST) on Monday 6 October 2008.  

Commenting on Nexus' acceptance of the takeover offer, ROC's Chief Executive Officer, Bruce Clement, stated:

'This is clearly a positive outcome for ROC and AZA shareholders. As Operator, ROC is focused on delivering the Basker Manta Gummy Development Project in 2010, which is forecast to increase ROC's production by over 100% to in excess of 20,000 BOEPD.'

Matthew Gerber

Manager

Investor Relations & External Affairs

For further information please contact:

Bruce Clement

Chief Executive Officer

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]

 

END

 

 

MSCUUGGAUUPRUGP