Nu-Oil and Gas PLC Returning of Interest in Enegi Oil Inc. (4608Q)

TIDMNUOG

RNS Number : 4608Q

Nu-Oil and Gas PLC

21 October 2019

Nu-Oil and Gas plc

("Nu-Oil" or "the Company")

Returning of Interest in Enegi Oil Inc.

The Company announces that it has returned the equity it held in Enegi Oil Inc. ("Enegi") to Enegi with immediate effect, continuing the implementation of changes to create a new direction for the Company, as announced on 2 October 2019.

Returning the equity to Enegi has been done under the terms of RSNL1990 CHAPTER C-36 CORPORATIONS ACT (Newfoundland), which allows an investor to donate its holdings in a company back to the company in question at no charge to the company.

At 31 December 2018, being the last published consolidated balance sheet date, the Newfoundland assets had a net carrying value of approximately GBP270,000.

As a result of this action, Nu-Oil will have no further claim or call on Enegi and, furthermore, it restricts the recourse to Nu-Oil of potential claims made against Enegi.

Enquiries

 
 Nu-Oil and Gas plc 
 Investor Relations & Communications   Tel: +44 (0)330 995 7988 
 Strand Hanson Limited                 Tel: +44 (0)20 7409 3494 
  Rory Murphy/Ritchie Balmer/Jack 
  Botros 
 Novum Securities Limited              Tel: +44 (0)20 7399 9425 
 Jon Bellis

Disclaimer

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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October 21, 2019 02:00 ET (06:00 GMT)

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