14th Mar 2008 07:00
Maple Energy plc14 March 2008 14 March 2008 MAPLE ENERGY PLC ("Maple" or the "Company") Agreement with Booker Tate Limited Maple Energy plc (AIM: MPLE), a leading integrated energy company with assets inPeru, is pleased to announce that its Peruvian subsidiary, Maple Etanol S.R.L.,has today executed a five-year technical services agreement with Booker TateLimited. Booker Tate is a global leader in the provision of services to theworld of sugar, ethanol, bio-energy and other agribusiness projects, and willprovide Maple Etanol with technical services for the development and managementof Maple's 10,676 hectare sugar cane plantation in the Piura Region on thenorthwest coast of Peru. In addition to the services provided by Booker Tate, Maple is also drawing onthe pool of Peruvian agronomists and engineers with extensive knowledge of sugarcane production in the Peruvian sugar industry. Rex Canon, CEO, Maple Energy, commented: "We are pleased to have reached this agreement with Booker Tate. Booker Tatebrings with it the experience and knowledge from around the world of bestpractices for sugar cane farming. They will be instrumental in helping Maplebuild and operate a world class sugar cane plantation incorporating the latesttechnologies and operating practices. This plantation will provide most of thesugar cane feedstock required for Maple's planned 30 million gallon per yearethanol project." For further information, please contact: Maple Energy plc (+ 51 1 611 4000)Jack W. Hanks, Chairman of the Board and Executive DirectorRex W. Canon, Chief Executive Officer, President and Executive Director Mirabaud Securities Ltd (+44 20 7321 2508)Peter KrensRory Scott Canaccord Adams Limited (+44 20 7050 6500)Clayton BushAdam Janikowski Citigate Dewe Rogerson (+44 20 7638 9571)Media enquiries: Martin Jackson/George CazenoveAnalyst enquiries: Scott Fulton About Maple Energy Maple is an integrated independent energy company, listed in London and Lima,with assets and operations in Peru engaging in numerous aspects of the energyindustry, including: • Exploration and production of crude oil, natural gas and natural gas liquids• Refining, marketing and distribution of hydrocarbon products• Gas-fired power generation and power transmission• The development of an ethanol project Maple was admitted to AIM on 13 July 2007 and trades under the symbol "MPLE".The company was also admitted to the Lima Stock Exchange on 21 December 2007where it trades under the same symbol. Operations Maple's operations are conducted and revenues are generated through itswholly-owned subsidiaries and equity interest in Aguaytia Energy, LLC, a jointventure in which Maple owns an approximate 17.4% effective economic interest.Maple's principal operations consist of the following: • Crude Oil Production. Operator and holder of 100% working interests in its crude-oil producing properties, Blocks 31-B and 31-D • Refining, Marketing and Distribution Operations. Operator of the Pucallpa Refinery and Sales Plant, which has capacity to refine up to (i) 3,400 bpd of crude oil producing Residual 5 fuel oil, (ii) 3,000 bpd of crude oil producing Residual 6 fuel oil or (iii) 4,100 bpd of natural gasolines. This plant also includes sales and distribution operations in the central Peruvian jungle, central Peruvian highlands and Lima regions • Aguaytia Energy Interest. Operator of Aguaytia Energy, LLC's gas assets and holder of an approximate 17.4% effective economic interest in Aguaytia Energy, LLC, an integrated energy company engaged in the production of Block 31-C, gas-fired power generation, power transmission, gas processing, natural gas liquids fractionation, gas and liquids transportation and the marketing of liquid petroleum gas and natural gasolines • Crude Oil Development. Operator and holder of a 100% working interest in the Pacaya Field in Block 31-E, which Maple intends to reactivate, as well as the development of up to 31 additional wells in Blocks 31-B and 31-D • Ethanol Project. Project developer and major shareholder in an estimated $192.5 million ethanol project located in the Piura Region on the northwest coast of Peru • Oil and Gas Exploration. Significant exploration opportunities through a: - 100% working interest in Block 31-E, containing the Santa Rosa, San Roque and Cashiboya Deep prospects and - significant working interest in the Aguaytia Deep Prospect in Block 31-C Reserves and Resources The following table gives a summary of Maple's estimated reserves, on a netattributable basis, as at 31 December 2006. Total Reserves Proved Proven and Probable Proved, Probable and Possible Oil and Liquids (bbl) 4,081,471 6,009,240 7,676,649Gas (MMCF) 38,800 45,000 49,000 The following table sets forth a summary of Maple's estimated prospectiveresources, on a net attributable basis, as at 31 December 2006. Total Resources Low Estimate Best Estimate High EstimateOil and Liquids (mbbl) 90,702 518,472 1,127,085Gas (MMCF) 473 105,978 225,397 About Booker Tate Booker Tate Limited is a UK-based company that provides management and technicalservices to sugar and sugarcane companies around the world. The company iscurrently engaged in 17 assignments in 11 countries and the company isresponsible for production on 71,000 hectares of sugarcane plantations and43,000 hectares of farmer cane land - a total of 114,000 hectares. The mainstream business of Booker Tate is the provision of project development,engineering and agriculture project management, technical and corporatemanagement and technical support for both new and established agriculture andagro-industrial projects and businesses around the world. Booker Tate hasparticular expertise in the development of new sugar cane plantations, therehabilitation and expansion of sugarcane estates, and in the planning anddevelopment of irrigation systems for cane production. Booker Tate is wholly owned by Tsb Sugar, itself a wholly owned subsidiary ofRemgro - a diversified company listed on the Johannesburg Securities Exchange,South Africa. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MPLE.L