RNS Number : 7324J
  Irvine Energy PLC
  08 December 2008
   

    Irvine Energy plc / Index: AIM / Epic: IVE / Sector: Exploration & Production

    8 December 2008
    Irvine Energy plc ("Irvine" or "the Company")
    Dealing Disclosure Requirements

    Further to the Company's announcement on 5 December 2008 (the "Update Announcement") and the statement that "In addition, the directors
will explore the possibility of a merger or corporate transaction if that creates value for shareholders", the Company confirms that such
possibilities include the possibility of an offer for the shares of the Company.  As a result, an offer period in respect of the Company has
commenced.  The board would like to emphasise that whilst the Company is now entering into an offer period, no discussions are currently
taking place with third parties regarding an offer for the Company and accordingly, there can be no certainty  that there will be any kind
of corporate transaction in the foreseeable future. 

    However, as stated in the Update Announcement "the Directors intend to complete the sale of certain non-core assets and also explore the
possibility of alliances, joint ventures or farm-outs with third parties in order to reduce the ongoing capital requirement for Irvine". 
Further announcements will be made in due course and as appropriate.

    Relevant Securities in Issue

    In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, Irvine Energy plc confirms that it has 793,674,826 ordinary
shares of 0.1 pence each in issue and is admitted to trading on AIM under the ISIN GB00B0R2Q661.

    Dealing Disclosure Requirements

    Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the 'Code'), if any person is, or becomes, 'interested'
(directly or indirectly) in 1% or more of any class of 'relevant securities' of Irvine Energy plc, all 'dealings' in any 'relevant
securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities')
must be publicly disclosed by no later than 3.30pm (London time) on the London business day following the date of the relevant transaction. 
This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is
otherwise withdrawn or on which the 'offer period' otherwise ends.
    
If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an 'interest' in
'relevant securities' of Irvine Energy plc, they will be deemed to be a single person for the purpose of Rule 8.3.

    Under the provisions of Rules 8.1 of the Code, all 'dealings' in 'relevant securities' of Irvine Energy plc by a potential offeror, or
Irvine Energy plc, or by any of their respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London
business day following the date of the relevant transaction.

    A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of
such securities in issue, can be found on the Takeover Panel's website 
at www.thetakeoverpanel.org.uk .

    'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in
the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of
securities, or by virtue of any option in respect of, or derivative referenced to, securities.

    Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether
or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel.

    * * ENDS * *

    For further information please visit http://www.irvineenergy.com or contact:

 Michael Frayne   Irvine Energy plc            Tel: +44 (0) 20 7766 7500
 Doug Manner      Irvine Energy plc            Tel: +1 214 908 6384
 Tim Redfern      Evolution Securities         Tel: +44 (0) 20 7071 4300
 Adam James       Evolution Securities         Tel: +44 (0) 20 7071 4300
 Hugo de Salis    St Brides Media & Finance    Tel: +44 (0) 20 7236 1177
 Victoria Thomas  St Brides Media & Finance    Tel: +44 (0) 20 7236 1177


This information is provided by RNS
The company news service from the London Stock Exchange
 
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