TIDMHUR
RNS Number : 2685B
Hurricane Energy PLC
05 June 2019
5 June 2019
Hurricane Energy plc
("Hurricane" or the "Company")
Results of Annual General Meeting
Hurricane Energy plc, the UK based oil and gas company focused
on hydrocarbon resources in naturally fractured basement
reservoirs, announces that all resolutions put to shareholders at
the Annual General Meeting ("AGM") of the Company held earlier
today were duly passed.
The AGM was held at: The Science Suite, Royal Society of
Chemistry, Burlington House, Piccadilly, London, W1J 0BA at
11.00am. Each of the resolutions contained in the Notice of Meeting
were put to the AGM, voted on by way of a poll, and duly
approved.
The total number of votes received on each resolution put to the
AGM, as more fully disclosed in the Notice of Meeting available on
the Company's website, was as follows:
# Resolution Votes % Votes % Votes TOTAL % ISC Votes
FOR AGAINST Voted WITHELD
Receive Annual
Report and Group
1 Financial Statements 1,029,981,015 99.57 4,421,534 0.43 1,034,402,549 51.97 604,643
--------------------- ------------- ----- --------- ---- ------------- ------ ---------
Re-appoint Deloitte
LLP as the Company's
2 auditors 1,030,075,956 99.98 173,343 0.02 1,030,249,299 51.77 4,757,893
--------------------- ------------- ----- --------- ---- ------------- ------ ---------
3 Elect Sandy Shaw 1,034,061,976 99.99 114,745 0.01 1,034,176,721 51.96 830,471
--------------------- ------------- ----- --------- ---- ------------- ------ ---------
Re-elect Dr Robert
4 Trice 1,033,317,280 99.88 1,238,464 0.12 1,034,555,744 51.98 451,448
--------------------- ------------- ----- --------- ---- ------------- ------ ---------
Re-elect John
5 van der Welle 1,032,838,738 99.85 1,505,008 0.15 1,034,343,746 51.97 663,446
--------------------- ------------- ----- --------- ---- ------------- ------ ---------
Renew authority
to allot shares
6 in the Company 1,033,804,566 99.96 450,879 0.04 1,034,255,445 51.97 751,747
--------------------- ------------- ----- --------- ---- ------------- ------ ---------
Authority to
allot shares
for cash free
of pre-emptive
7 rights * 1,032,767,349 99.89 1,127,461 0.11 1,033,894,810 51.95 762,382
--------------------- ------------- ----- --------- ---- ------------- ------ ---------
Notes:
-- * denotes Special Resolution.
-- A vote "Withheld" is not a vote in law and is not counted in
the calculation of the votes cast "For" or "Against" the
resolution, nor in the calculation of the "% ISC Voted" for any
resolution.
-- Votes "For" and "Against" are expressed as a percentage of
votes validly cast for that resolution at the AGM, excluding any
"Withheld" votes.
-- "% ISC Voted" denotes the votes validly cast for each
resolution as a percentage of the issued share capital of
1,990,228,053 shares as at 3 June 2019, being the last date for
submission of votes by proxy in advance of the AGM.
Contacts:
Hurricane Energy plc
Dr Robert Trice, Chief Executive Officer +44 (0)1483 862
Alistair Stobie, Chief Financial Officer 820
Stifel Nicolaus Europe Limited
Nominated Adviser & Joint Corporate Broker
Callum Stewart / Nicholas Rhodes / Ashton +44 (0)20 7710
Clanfield 7600
Morgan Stanley & Co. International plc
Joint Corporate Broker +44 (0)20 7425
Andrew Foster / Tom Perry / Alex Smart 8000
Vigo Communications
Public Relations
Patrick d'Ancona / Ben Simons +44 (0)20 7390
hurricane@vigocomms.com 0230
About Hurricane
Hurricane was established to discover, appraise and develop
hydrocarbon resources associated with naturally fractured basement
reservoirs. The Company's acreage is concentrated on the Rona
Ridge, in the West of Shetland region of the UK Continental
Shelf.
The Lancaster field (100%) is the UK's first producing basement
field. Hurricane is pursuing a phased development of Lancaster,
starting with an Early Production System consisting of two wells
tied-back to the Aoka Mizu FPSO. This development is initially
expected to produce an average of 17,000 bopd (gross production of
20,000 bopd with assumed operating efficiency of 85%, following a
period of ramp-up). First oil was achieved in June 2019.
Hurricane's other assets include Lincoln (50%), Warwick (50%),
Halifax (100%), Whirlwind (100%), and Strathmore (100%). Together
with Lancaster, these assets have total combined 2P reserves and 2C
contingent resources of 2.6 billion barrels of oil equivalent (2.3
billion barrels of oil equivalent net to Hurricane).
In September 2018, Spirit Energy farmed-in to 50% of the Lincoln
and Warwick assets, committing to a five-phase work programme
starting with three wells in 2019 and targeting sanction of full
field development in 2021.
Glossary
2P Reserves Proved plus probable reserves under the
Society of Petroleum Engineers' Petroleum
Resources Management System
2C Contingent Best case contingent resources under the
resources Society of Petroleum Engineers' Petroleum
Resources Management System
===========================================
bopd Barrels of oil per day
===========================================
FPSO Floating production storage and offloading
vessel
===========================================
Spirit Energy Spirit Energy Limited
===========================================
Inside Information
This announcement contains inside information as stipulated
under the market abuse regulation (EU no. 596/2014). Upon the
publication of this announcement via regulatory information service
this inside information is now considered to be in the public
domain.
Competent Person
The technical information in this release has been reviewed by
Dr Robert Trice, who is a qualified person for the purposes of the
AIM Guidance Note for Mining, Oil and Gas Companies. Dr Robert
Trice, Chief Executive Officer of Hurricane Energy plc, is a
geologist and geoscientist with a PhD in geology and has over 30
years' experience in the oil and gas industry.
Standard
Resource estimates contained in this announcement have been
prepared in accordance with the Petroleum Resource Management
System guidelines endorsed by the Society of Petroleum Engineers,
World Petroleum Congress, American Association of Petroleum
Geologists and Society of Petroleum Evaluation Engineers.
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
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