Serinus Energy PLC Exemption from Canadian Reporting Obligations (6781M)
January 10 2019 - 1:00AM
UK Regulatory
TIDMSENX
RNS Number : 6781M
Serinus Energy PLC
10 January 2019
SERINUS ENERGY PLC
Exemption from Canadian Oil and Gas Reporting Obligations
Jersey, Channel Islands, January 10, 2019 -- Serinus Energy plc
("Serinus", "SEN" or the "Company") (AIM:SENX, WSE:SEN), announces
that securities regulators for the provinces of Alberta and Ontario
have issued a decision document (the "Decision") granting Serinus
exemptive relief from the disclosure requirements contained in
National Instrument 51-101 - Standards of Disclosure for Oil and
Gas Activities ("NI 51-101"). The Decision was received following
application by the Company for exemptive relief from NI 51-101
after its continuance from under the laws of Alberta to under the
laws of Jersey, Channel Islands, its delisting from the Toronto
Stock Exchange and its listing on the Alternative Investment Market
of the London Stock Exchange ("AIM").
As a result of the Decision, and provided that certain
conditions set out in the Decision are met on an on-going basis,
the Company will not be required to comply with the requirements of
NI 51-101 and, among other things, will no longer be required to
file Form 51-101F1 - Statement of Reserves Data and Other Oil and
Gas Information, Form 51-101F2 - Report on Reserves Data by
Independent Qualified Reserves Evaluator or Auditor and Form
51-101F3 - Report of Management and Directors on Oil and Gas
Disclosure. In lieu of such filings, Serinus will provide
disclosure in respect of its oil and gas activities in accordance
with the reporting requirements of the Financial Conduct Authority
of the United Kingdom and the AIM (collectively, the "UK Rules").
Serinus is required to file disclosure made under the UK Rules with
applicable Canadian securities regulatory authorities as soon as
practicable after such disclosure is filed pursuant to the UK
Rules.
Readers should be aware that the Company's future disclosure
relating to its oil and gas activities will comply with the UK
Rules rather than NI 51-101 and the Canadian Oil and Gas Evaluation
Handbook. The UK Rules differ in a number of respects from the
disclosure otherwise required under NI 51-101 and the Canadian Oil
and Gas Evaluation Handbook and readers should consider these
differences when considering all future disclosures made by Serinus
relating to its oil and gas activities.
About Serinus
Serinus is an international upstream oil and gas exploration and
production company that owns and operates projects in Tunisia and
Romania.
For further information, please refer to the Serinus website
(www.serinusenergy.com) or contact the following:
Serinus Energy plc +1-403-264-8877
Jeffrey Auld, Chief Executive Officer
Calvin Brackman, Vice President, External Relations &
Strategy
Numis Securities Limited +44 (0) 20 7260 1000
(Nominated Adviser and Joint Broker)
John Prior
Paul Gillam
Ben Stoop
GMP FirstEnergy +44 (0) 20 7448 0200
(Joint Broker)
Hugh Sanderson
Jonathan Wright
Camarco +44 (0) 20 3781 8334
(Financial PR - London)
Billy Clegg
Owen Roberts
TBT i Wspólnicy +48 22 487 53 02
(Financial PR - Warsaw)
Piotr Talarek
Translation: This news release has been translated into Polish
from the English original.
Forward-looking Statements This release may contain
forward-looking statements made as of the date of this announcement
with respect to future activities that either are not or may not be
historical facts. Although the Company believes that its
expectations reflected in the forward-looking statements are
reasonable as of the date hereof, any potential results suggested
by such statements involve risk and uncertainties and no assurance
can be given that actual results will be consistent with these
forward-looking statements. Various factors that could impair or
prevent the Company from completing the expected activities on its
projects include that the Company's projects experience technical
and mechanical problems, there are changes in product prices,
failure to obtain regulatory approvals, the state of the national
or international monetary, oil and gas, financial , political and
economic markets in the jurisdictions where the Company operates
and other risks not anticipated by the Company or disclosed in the
Company's published material. Since forward-looking statements
address future events and conditions, by their very nature, they
involve inherent risks and uncertainties and actual results may
vary materially from those expressed in the forward-looking
statement. The Company undertakes no obligation to revise or update
any forward-looking statements in this announcement to reflect
events or circumstances after the date of this announcement, unless
required by law.
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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January 10, 2019 02:00 ET (07:00 GMT)
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