7 October 2013
Adriatic Oil Plc
("Adriatic Oil" or the "Company")
Proposed Admission to AIM
Further to the announcement made on 27 June 2013, the Board of Adriatic Oil,
the ISDX Growth Market quoted international oil and gas exploration company, is
pleased to announce its intention to apply for the admission ("Admission") of
the ordinary shares of the Company to trading on the AIM market of the London
Stock Exchange plc ("AIM"). The Board intends for the Company's potential
Admission to AIM to be accompanied by a fundraising.
Commenting on today's news, CEO Bruno Muller said:
"Adriatic Oil is an exploration company with a portfolio of activities focused
on the North Celtic Sea, the Atlantic Margin, the UK North Sea and the Adriatic
Sea Basin. The Board believes that Admission to AIM, coupled with afundraising,
wouldprovide a platform for the Company's management teamto develop Adriatic
Oil into amoreestablished companyand provide shareholders with a more active
platform to trade their shares.
"Since September 2011, Adriatic Oil has transformed into a company with a
diversified portfolio of oil and gas exploration assets. With a management team
with expertise in sourcing such projects,the Boardbelieves thata move to AIM is
a natural step in the Board's plans to further grow and diversify our asset
portfolio to generate value for shareholders."
THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILTY FOR THE CONTENTS OF THIS
ADRIATIC OIL PLC
+44 (0) 20 3178 4060
SVS SECURITIES PLC - ISDX Corporate Adviser
+44 (0) 20 3700 0100
YELLOW JERSEY PR LIMITED - Financial PR
Dominic Barretto / Anna Legge
+44 (0) 20 3664 4087
NOTES TO EDITORS:
Adriatic Oil Plc is a publicly quoted UK-incorporated international oil and gas
exploration company with a portfolio of activities focused on the North Celtic
Sea, the UK North Sea and the Adriatic Sea Basin.
In the North Celtic Sea, the Company has agreed with Fastnet Oil & Gas plc to
farm-out 64.5% of its original 80% interest in a Licensing Option which covers
an area of 881 sq. km. The Company holds 15.5% of this Licensing Option.
Additionally, the Company has a second small carried interest in offshore
Separately, in the Inner Moray Firth area of the UK's North Sea, Adriatic Oil
has conditionally secured a 80% Farm-In, to the Seaward Production Licence
P1921 in relation to Blocks 12/18 and 12/ 19c.
Adriatic Oil is also focused on making and progressing applications for
offshore exploration opportunities in Albania and Italy. Albania holds the
largest onshore oilfield ever found in Europe with 5.7 billion barrels of oil
Adriatic Oil's strategy is to add shareholder value by proving and developing
leads and plays in areas which the Directors of the Company consider to be high
potential oil and gas provinces. Adriatic Oil's ordinary shares are quoted on
the ISDX Growth Market (operated by ICAP Securities & Derivatives Exchange
Limited) under the ticker symbol 'ADOP'. The Company's website is available at
-0- Oct/07/2013 06:00 GMT
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