19th Oct 2009 07:00
RNS Number : 9618A
Leni Gas & Oil PLC
19 October 2009
LENI GAS & OIL Plc
("LGO" or "The Company")
19 October, 2009
Gulf of Mexico Direct Ownership and Production Agreement Update
Leni Gas & Oil plc ("LGO") advises that further to the announcement made on 30 September 2009 in relation to the Heads of Agreement with Byron Energy Pty Ltd ("Byron Energy") to transfer the Company's shareholding in Byron Energy from an indirect to a direct ownership of its US Gulf of Mexico ("GoM") oil and gas assets, that Byron Energy shareholders have today approved the transaction at a General Meeting of their Shareholders.
David Lenigas, Executive Chairman, commented:
"We are pleased that Byron Energy’s shareholders have approved the transaction and under Australian law, where Byron Energy is incorporated, there is now a two to three week period required to fully transfer the rights in the Gulf of Mexico to LGO’s subsidiary which has now been properly established to hold the direct working interests in the producing Eugene Island oil and gas field.”
ENQUIRIES:
Leni Gas & Oil plc
David Lenigas, Executive Chairman/ Fraser Pritchard, Executive Director (Operations)
Tel +44 (0) 20 7016 5101
Beaumont Cornish Limited
Roland Cornish / Rosalind Hill Abrahams
Tel +44 (0) 20 7628 3396
Mirabaud Securities Limited
Rory Scott
Tel +44 (0) 20 7878 3360
Pelham PR
Mark Antelme / Henry Lerwill
Tel + 44 (0)20 7337 1500
This information is provided by RNS
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