TIDMAOGL

RNS Number : 3369V

Attis Oil and Gas Ltd

02 December 2019

Attis Oil & Gas Ltd / Index: AIM / Epic: AOGL/ ISIN: VGG6622A1057 / Sector: Oil and Gas

2 December 2019

Attis Oil & Gas Ltd ('the Company')

Expiry of Memorandum of Understanding

Attis Oil and Gas Ltd (AIM: AOGL), the AIM listed oil and gas company, announces the expiration of the non-binding Memorandum of Understanding ("MOU") announced on 22 October 2019 and extended on 7 November with an owner and operator of approx. 25,000 leasehold acres in the Texas Panhandle. The Company is currently engaged in discussions with third parties with the goal to enter into good faith negotiations on a transaction further expanding its position in the Red Cave formation in anticipation of the drilling programme set to begin in late Q1 2020, subject to the availability of additional funds.

The Company plans to use its tax efficient corporate structure in the United States and its Red Cave acreage as a platform to build a strategic position through joint ventures with local mineral and working interest owners, operators, and contractors in order to achieve scale in the Red Cave formation in order to provide positive cash flow in the near term.

**ENDS**

For further information visit www.attisog.com or contact the following:

 
 Thom Board        Attis Oil & Gas Ltd            +44 207236 1177 
 Paolo Amoruso     Attis Oil & Gas Ltd           + 1 713 869 1544 
                  ----------------------------  ----------------- 
 Roland Cornish    Beaumont Cornish Ltd          +44 20 7628 3396 
                  ----------------------------  ----------------- 
 James Biddle      Beaumont Cornish Ltd          +44 20 7628 3396 
                  ----------------------------  ----------------- 
 Frank Buhagiar    St Brides Partners Limited    +44 20 7236 1177 
                  ----------------------------  ----------------- 
 Megan Dennison    St Brides Partners Limited    +44 20 7236 1177 
                  ----------------------------  ----------------- 
 Colin Rowbury     Novum Securities Limited      +44 20 7399 9400 
                  ----------------------------  -----------------

About Us

Attis Oil & Gas Ltd is an AIM-traded (London Stock Exchange) North American-based energy company. It is actively pursuing a primary recovery oil strategy focused on re-stimulating wells within mature producing basins with immediate cash flow from projects that are shallow, low risk with low levels of capex and infrastructure already in place. Attis is also seeking to develop new drill opportunities within both existing & new acreage.

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.

END

MSCUGGRPPUPBGGP

(END) Dow Jones Newswires

December 02, 2019 08:00 ET (13:00 GMT)

Attis Oil And Gas (LSE:AOGL)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Attis Oil And Gas Charts.
Attis Oil And Gas (LSE:AOGL)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Attis Oil And Gas Charts.