6th Aug 2009 14:38
6 August 2009
MAPLE ENERGY PLC
("Maple" or the "Company")
Result of AGM
Maple Energy plc (AIM: MPLE. LIM: MPLE), a leading integrated energy company with assets in Peru, is pleased to announce that the resolutions proposed at the Company's Annual General Meeting, held today on 6 August 2009, were duly approved by its shareholders.
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
Jefferies International Limited (+44 20 7029 8000)
Jack Pryde
Paul Wheeler
Schuyler Evans
Mirabaud Securities Ltd (+44 20 7321 2508)
Peter Krens
Rory Scott
Citigate Dewe Rogerson (+44 20 7638 9571)
Martin Jackson
Emma Woollaston
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 and natural gas
Refining, marketing and distribution of hydrocarbon products
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. 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;
Crude Oil Development. Maple intends to develop 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- 33.77% working interest in the Aguaytía Deep prospect in Block 31-C.
Related Shares:
MPLE.L