Proposed Placing


 

TIDMQOGT 
 
RNS Number : 1285X 
Quorum Oil and Gas Tech. Fund Ld 
10 August 2009 
 

Not for release, publication or distribution in, or into, the United States, 
Canada, Australia or Japan. 
 
 
+------------------------------------+------------------------------------+ 
| Press Release                      |                     10 August 2009 | 
+------------------------------------+------------------------------------+ 
 
 
 
 
 
 
Quorum Oil and Gas Technology Fund Limited 
 
 
("Q-OGT", "the Fund" or "the Company") 
 
 
Proposed Placing 
 
 
Quorum Oil and Gas Technology Fund Limited (LSE:QOGT), a registered closed-ended 
Guernsey investment company traded on the London Stock Exchange, is pleased to 
announce its intention to proceed with an additional placing of new shares in 
the Fund ("the Placing") to raise gross proceeds of up to US$50 million. 
 
 
New shares will be issued at net asset value and the issue proceeds are expected 
to be deployed in three principal areas. Q-OGT intends to provide further 
finance for certain of its existing investee companies to support their future 
growth. Monies raised are also intended to be used to complete up to three new 
potential investments that Q-OGT is in active discussions with and meet with the 
Fund's stated investment criteria, enhance the diversification of the existing 
portfolio and provide significant synergies with existing investee companies. 
Remaining monies will be maintained as cash reserves ready for investment should 
suitable opportunities arise. 
 
 
It is intended that the placing, in which Numis Securities and Kepler Capital 
Markets will act as Placing Agents, will be completed by the end of the third 
quarter 2009. 
 
 
Wanda Dorosz, CEO of the Quorum Group, commented: "Extremely strong 
opportunities continue to exist within the oil and gas technology sector, and 
Q-OGT's excellent track record of discovering new technologies that will play a 
key role in the future of oil and gas exploration means that we are confident 
that the proceeds of an issue could be used to enhance and complement our 
existing investee companies." 
 
 
- Ends - 
 
 
For further information: 
+-----------------------------------------------+--------------------------+ 
| Investment Manager                            |                          | 
+-----------------------------------------------+--------------------------+ 
| Quorum Group                                  |                          | 
+-----------------------------------------------+--------------------------+ 
| Wanda Dorosz, Managing Partner & CEO          |     Tel: +1 416 971 6998 | 
+-----------------------------------------------+--------------------------+ 
| wdorosz@quorum.ca                             |                          | 
+-----------------------------------------------+--------------------------+ 
| David Sefton, Quorum European Partners LLP    |    Tel: +44 (0) 7989 333 | 
|                                               |                      371 | 
+-----------------------------------------------+--------------------------+ 
| david.sefton@quorum-london.com                |       www.q-ogtfund.com  | 
+-----------------------------------------------+--------------------------+ 
 
 
+-----------------------------------------------+--------------------------+ 
| Corporate Broker                              |                          | 
+-----------------------------------------------+--------------------------+ 
| Numis Securities                              |                          | 
+-----------------------------------------------+--------------------------+ 
| Nathan Brown                                  | Tel: +44 (0)20 7260 1426 | 
+-----------------------------------------------+--------------------------+ 
| n.brown@numiscorp.com                         |                          | 
+-----------------------------------------------+--------------------------+ 
 
 
Media enquiries: 
+-----------------------------------------------+--------------------------+ 
| Abchurch                                      |                          | 
+-----------------------------------------------+--------------------------+ 
| Henry Harrison-Topham / Chris Lane            |     Tel: +44 (0) 20 7398 | 
|                                               |                     7708 | 
+-----------------------------------------------+--------------------------+ 
| chris.lane@abchurch-group.com                 |   www.abchurch-group.com | 
+-----------------------------------------------+--------------------------+ 
 
 
Notes to editors: 
Quorum Oil and Gas Technology Fund Limited ("Q-OGT") is a registered 
closed-ended investment company incorporated in Guernsey to provide expansion 
capital to companies which own and/or are developing proven proprietary 
technology which may have a potentially significant effect on the oil and gas 
industry.  The Fund is managed by the Quorum Group, a 22 year old strategic 
sector private equity firm, headquartered in North America, which also has a 
subsidiary and office in London, Quorum European Partners LLP.  Q-OGT was 
admitted to the Official List of the UK Listing Authority and to trading on the 
London Stock Exchange on 7 January 2008. Its stock market EPIC is QOGT.L. 
Further information can be found at www.q-ogtfund.com 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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