15th Oct 2008 07:00
15 October 2008
MAPLE ENERGY PLC
("Maple" or the "Company")
Maple Announces Grant of Options
Maple Energy plc (AIM: MPLE; LIMA: MPLE), an integrated energy company with assets in Peru, announces that on 13 October 2008 its Board of Directors authorised the issuance of options to acquire ordinary shares of US$0.01 each in the share capital of the Company, to certain members of its Board of Directors and executive team, in accordance with the Maple Energy plc Share Option Plan 2007, as amended.
Following this authorisation, the Company issued options on 13 October 2008 to the following persons in the specified amounts at an exercise price of 198p per option, which vest equally over a three year period:
|
Executives/Directors |
Position |
Options |
|
Jack W. Hanks |
Chairman of the Board and Executive Director |
60,000 |
|
Rex W. Canon |
Chief Executive Officer, President and Executive Director |
60,000 |
|
Carlos Antonio de la Guerra Sison |
Senior Vice President and Executive Director |
60,000 |
|
Tony Hines |
Senior Vice President - Operations |
60,000 |
|
Raymond Cochard |
Chief Financial Officer |
30,000 |
|
Guillermo Ferreyros |
Vice President - Marketing and Governmental Relations |
30,000 |
|
Roxana Guzman |
General Counsel |
11,000 |
|
Alfonso Morante |
Treasurer |
20,000 |
|
Nabil Katabi |
Manager, Project Development |
12,000 |
|
Nigel B. Christie |
Non-Executive Director |
45,000 |
|
Gianfranco Castagnola Zuniga |
Non-Executive Director |
45,000 |
|
Carlos Enrique A. Palacios Rey |
Non-Executive Director |
45,000 |
For further information, please contact:
Maple Energy plc (+ 51 1 611 4000)
Jack W. Hanks, Chairman of the Board and Executive Director
Rex W. Canon, Chief Executive Officer, President and Executive Director
Mirabaud Securities Ltd (+44 20 7321 2508)
Peter Krens
Rory Scott
Canaccord Adams Limited (+44 20 7050 6500)
Neil Johnson
Jeffrey Auld
Bhavesh Patel
Citigate Dewe Rogerson (+44 20 7638 9571)
Media enquiries: Martin Jackson
Analyst enquiries: George Cazenove
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 energy industry, 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 2007 where it trades under the same symbol.
Operations
Maple's operations are conducted and revenues are generated through its wholly-owned subsidiaries and equity interest in Aguaytía Energy, LLC, a joint venture in which Maple owns an approximate 17.5% 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, 31-D and 31-E.
Refining, Marketing and Distribution Operations. Operator of the Pucallpa Refinery and Sales Plant, which has capacity to refine up to (i) 3,400 barrels per day of crude oil producing Residual 5 fuel oil, (ii) 3,000 barrels per day of crude oil producing Residual 6 fuel oil or (iii) 4,100 barrels per day of natural gasolines. This plant also includes sales and distribution operations in the central Peruvian jungle, central Peruvian highlands and Lima regions
Aguaytía Energy Interest. Operator of Aguaytía Energy, LLC's gas assets and holder of an approximate 17.5% effective economic interest in Aguaytía 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. Maple intends to develop up to 31 additional wells in Blocks 31-B and 31-D
Ethanol Project. Project developer and major shareholder in an estimated $222 million (excluding value added taxes) 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 Aguaytía Deep Prospect in Block 31-C
Related Shares:
MPLE.L