Woburn Energy PLC Corporate Update (2754H)
18 June 2013 - 6:15PM
UK Regulatory
TIDMWBN
RNS Number : 2754H
Woburn Energy PLC
18 June 2013
For immediate release
18 June 2013
Woburn Energy Plc
("Woburn" or the "Company")
Corporate update
The Board of Woburn is pleased to announce that on 14 June 2013
Woburn received payment of the third and fourth instalments in
respect of the disposal by its 51 per cent. owned subsidiary, LQRC,
of its 50 per cent. working interest in the Las Quinchas
Association Contract (the "Disposal"), in aggregate amounting to
US$3,913,123. Due to the fourth instalment being paid earlier than
the original July 2013 payment date, Woburn has now received all
the instalments due to Woburn in respect of the Disposal and LQRC
has no further assets. Woburn has sold today its entire
shareholding in LQRC to Pacific Stratus International Energy
Limited ("PSIE") for US$1.00. PSIE is the holder of the balance of
the issued share capital in LQRC. Accordingly the Company no longer
has any interest in LQRC.
For further information, please contact:
Woburn Energy Plc Tel: +44 (0) 20
7380 4600
Kamran Ahmed www.woburnenergy.com
Beaumont Cornish Limited (Nominated Tel: +44 (0)20
Adviser) 7628 3396
Michael Cornish
Definitions
"Las Quinchas The association contract between
Association Contract" Empresa Colombiana De Petroleos
(Ecopetrol) and Clavijo Avila
Geopozos & Company S.A. dated
29 January 1996 (as amended)
"LQRC" Las Quinchas Resource Corporation
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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