20 February 2014
Adriatic Oil Plc
("Adriatic Oil" or the "Company")
ISSUE OF EQUITY
The Directors of Adriatic Oil, the ISDX Growth Market quoted international oil
and gas exploration company, announce that Adriatic Oil has yesterday issued a
total of 6,864,300 new ordinary shares of 0.5p each (the "New Ordinary
Shares"), at an issue price of 0.8p per New Ordinary Share.
6,864,300 New Ordinary Shares have been issued to Apex Spectral Technology,
Inc, Houston / Texas ("Apex"). The New Ordinary Shares have been issued as part
consideration for services rendered by Apex in relation to work performed for
Blocks 12/18 and 12/19c in the Inner Moray Firth / UK North Sea, and the UK
28th North Sea Licensing Round respectively.
The New Ordinary Shares will rank pari passu in all respects with the existing
fully paid ordinary shares of 0.5p each. The New Ordinary Shares and the
existing ordinary shares each have one right to vote per share. Following the
issue of the New Ordinary Shares, the Company will have 333,387,102 ordinary
shares in issue.
The above figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in the Company under the FCA's
Disclosure and Transparency Rules. The Company's total issued ordinary share
capital is now £1,666,935.51.
THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS
ADRIATIC OIL PLC
+44 (0) 20 3178 4060
SVS SECURITIES PLC - ISDX Growth Market 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 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 www.adriaticoil.com
-0- Feb/20/2014 09:50 GMT
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