TIDMADV

RNS Number : 5395O

Advance Energy PLC

10 February 2021

10 February 2021

Advance Energy plc

("Advance Energy" or the "Company")

Termination of Wessex Basin Licences

Advance Energy plc ( AIM:ADV ), the energy company seeking growth through acquisition or farm-in to non-operated interests in discovered upstream projects, announces that offshore P1918 Colter & Colter South licence, and onshore PEDL 330 and PEDL 345 licences (together the "Wessex Basin Licences") have terminated with effect from 31 January 2021.

Offshore P1918 Colter & Colter South Licence

The Company's wholly owned subsidiary Resolute Oil & Gas (UK) Limited ("Resolute") held an 8% non-operated working interest in the P1918 licence. The second term of the P1918 Licence expired on 31 January 2021 without being renewed.

Onshore PEDL 330 & 345 Licences

The Company's wholly owned subsidiary Resolute held an 8% non-operated interest in the PEDL 330 and PEDL 345 licences. In accordance with the Operator's recommendation, the PEDL 330 and PEDL 345 licences were relinquished with an effective date of 31 January 2021.

Accordingly, with effect from 31 January 2021 the Company no longer holds any interests in the Wessex Basin Licences.

Enquiries:

 
 Advance Energy plc 
 Leslie Peterkin (CEO) / Stephen         +44 (0)1624 681 
  West (CFO)                                         250 
 Strand Hanson Limited (Financial and Nominated 
  Adviser) 
 James Harris / Rory Murphy / Georgia     +44 (0)20 7409 
  Langoulant                                        3494 
 Buchanan (Public Relations) 
                                          +44 (0)20 7466 
 Ben Romney / Kelsey Traynor                        5000 
 Tennyson Securities (Joint Broker) 
                                          +44 (0)20 7186 
 Peter Krens / Ed Haig-Thomas                       9030 
 Optiva Securities Limited (Joint 
  Broker) 
                                          +44 (0)20 3411 
 Christian Dennis                                   1881 
 
   For further information, please visit www.advanceplc.com   and @advanceplc on Twitter 

To register for Advance Energy's email alerts, please complete the following form: https://www.advanceplc.com/media-centre/news/#alerts

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCFFFELFLIAIIL

(END) Dow Jones Newswires

February 10, 2021 02:00 ET (07:00 GMT)

Andalas Energy And Power (LSE:ADL)
Historical Stock Chart
From Oct 2021 to Nov 2021 Click Here for more Andalas Energy And Power Charts.
Andalas Energy And Power (LSE:ADL)
Historical Stock Chart
From Nov 2020 to Nov 2021 Click Here for more Andalas Energy And Power Charts.