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Eland Oil & Gas PLC (ELA)

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Tuesday 16 April, 2019

Eland Oil & Gas PLC

Result of Annual General Meeting

RNS Number : 3849W
Eland Oil & Gas PLC
16 April 2019
 

16 April 2019 

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 12 April 2019. The number of voting ordinary shares in issue at that date was 217,534,151.

Resolution

For

%

Against

%

Total Votes Cast (excl. Votes Withheld)

Withheld

Resolution 1

Audited Accounts

145,545,589

99.86

200,152

0.14

145,745,741

18,565

Resolution 2

Re-elect Russell Harvey

141,950,992

99.76

341,406

0.24

142,292,398

3,471,908

Resolution 3

Re-elect Grégory Stoupnitzky

145,693,008

99.95

71,298

0.05

145,764,306

0

Resolution 4

Elect Nicholas Gay

145,762,011

100.00

0

0.00

145,762,011

2,295

Resolution 5

Re-appoint Auditor

145,762,206

100.00

0

0.00

145,764,306

0

Resolution 6

Auditors Remuneration

145,764,306

100.00

0

0.00

145,764,306

0

Resolution 7

Directors to Allot Shares

145,736,039

99.98

28,267

0.02

145,764,306

0

Resolution 8

Allot Equity Securities

141,923,342

97.36

3,840,964

2.64

145,764,306

0

Resolution 9

Market Purchases

145,764,306

100.00

0

0.00

145,764,306

0

 

ENDS

 

For further information:

Eland Oil & Gas PLC (+44 (0)1224 737300)

www.elandoilandgas.com

George Maxwell, CEO

Ronald Bain, CFO

Finlay Thomson, IR

 

Peel Hunt LLP, Nominated Adviser & Joint Broker (+44 (0)20 7418 8900)

Richard Crichton / David McKeown

 

Stifel Nicolaus Europe Limited, Joint Broker (+44 (0)20 7710 7600)

Callum Stewart / Nicholas Rhodes / Ashton Clanfield

 

Camarco (+44 (0) 203 757 4980)

Billy Clegg / Tom Huddart / Monique Perks

 

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 a 45% interest in OML 40 which is in the Northwest Niger Delta approximately 75 km northwest of Warri and has an area of 498 km². 

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 82.2 million barrels, gross 2C contingent resources of 50.7 million barrels and a best estimate of 252.1 million barrels of gross un-risked prospective resources*

The Ubima field holds gross 2P reserves of 9.3 million barrels of oil and gross 2C resource estimates of 4.2 million barrels*

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.

*Netherland, Sewell & Associates Inc CPR report 31 December 2018

 


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