3rd Dec 2012 12:25
Magnolia Petroleum Plc / Index: AIM / Epic: MAGP / Sector: Oil & Gas
3 December 2012
Magnolia Petroleum Plc(`Magnolia' or `the Company') Director Shareholding
Magnolia Petroleum Plc, the AIM quoted US onshore oil and gas exploration and production company, announces that on 30 November 2012 Steven Snead, the CEO of the Company, transferred 50,000,000 ordinary shares held personally to Snead Family 2012, LLC, an entity of which Mr Snead and his wife are the beneficiaries, for nil consideration.
Mr Snead's interest in the Company remains unchanged at 199,915,998 ordinaryshares. Number of Shares % of Share Capital Number of Warrants Steven Snead 199,915,998* 23.67 14,110,000
*Includes 45,306,949 ordinary shares held personally, 11,400,000 ordinary shares held by R Sterling Snead, 93,209,040 ordinary shares held by Snead Family, LLC and 50,000,000 ordinary shares held by Snead Family 2012, LLC.
** ENDS **
For further information on Magnolia Petroleum Plc visit www.magnoliapetroleum.com or contact the following:
Steven Snead Magnolia Petroleum Plc +01 918 449 8750 Rita Whittington Magnolia Petroleum Plc +01 918 449 8750 Antony Legge/James Thomas Daniel Stewart & Company Plc +44 (0) 20 7776 6550 John Howes/John-Henry Wicks Northland Capital Partners +44 (0) 20 7796 8800
Limited Lottie Brocklehurst St Brides Media and Finance +44 (0) 20 7236 1177 Ltd Frank Buhagiar St Brides Media and Finance +44 (0) 20 7236 1177 Ltd NotesMagnolia Petroleum Plc is an AIM quoted, US focused, oil and gas explorationand production company. Its portfolio includes interests in 86 producing andnon-producing assets, primarily located in the highly productive Bakken/ThreeForks Sanish hydrocarbon formations in North Dakota as well as the oil richMississippi Lime and the substantial and proven Woodford and Hunton formationsin Oklahoma.Summary of WellsCategory Number of wells Producing 86 Being Drilled/Completed 15 Elected to participate/waiting to spud 13 TOTAL 114
This summary excludes four out of six wells acquired as part of the acquisition of 800 gross acres with a 100% working interest in Osage County, Oklahoma, as announced on 10 February 2012. These four wells are currently `shut in' and will require a workover programme at some point in the future to bring back into production.
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Magnolia Petroleum