Clontarf Energy PLC Union Oil Relinquish Block 183 in Peru (8333R)
26 September 2017 - 7:16PM
UK Regulatory
TIDMCLON
RNS Number : 8333R
Clontarf Energy PLC
26 September 2017
26(th) September 2017
Clontarf Energy plc
("Clontarf" or "the Company")
Union Oil Relinquish Block 183 in Peru
The board of Clontarf Energy (AIM: CLON) have been informed that
Union Oil (the 80% owner of the concession) have returned to the
Peruvian Authorities the licence held on Block 183. They gave as
their reason an inability over a 3 year period to obtain the
permits, particularly environmental permits, necessary to
explore.
Clontarf held a 3% royalty on revenue arising from future
operations on the Block. Clontarf will not incur any liabilities as
a result of Union Oil's decision but will write off the carrying
value of the asset in the financial statements for the year ending
31 December 2017. Block 183 has not been the principal focus of the
Company's activities in recent years.
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014.
ENDS
For further information please visit http://clontarfenergy.com
or contact:
Clontarf Energy plc
+353 (0) 1 833
John Teeling, Chairman 2833
David Horgan, Director
Nominated Adviser and Broker
Northland Capital Partners
Limited
Tom Price / Gerry Beaney +44 (0) 20 3861
(Corporate Finance) 6625
John Howes / Bonnie Hughes
(Broking)
Public Relations
+44 (0) 207 138
Blytheweigh 3204
+44 (0) 783 185
Nick Elwes 1855
+44 (0) 787 184
Camilla Horsfall 1793
Teneo PSG
+353 (0) 1 661
Luke Hogg 4055
+353 (0) 1 661
Alan Tyrrell 4055
This information is provided by RNS
The company news service from the London Stock Exchange
END
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