TIDMZOL

RNS Number : 1687Z

Zoltav Resources Inc

24 May 2016

24 May 2016

Zoltav Resources Inc.

("Zoltav" or the "Company")

Director/PDMR Shareholding

Zoltav (AIM:ZOL), the Russia and CIS-focused oil and gas exploration and production company, announces that it was advised today that Marcus Rhodes, a non-executive director of the Company, sold 15,000 ordinary shares of $US0.2 in the Company ("Ordinary Shares") on 23 May 2016. The sale was conducted at a price of GBP0.27 per Ordinary Share. As a result of this disposal Mr Rhodes no longer holds any Ordinary Shares.

Contacts:

 
Zoltav Resources Inc.           Tel. +44 (0)20 
                                 7830 9704 
Alastair Ferguson, Executive    (via Vigo Communications) 
 Chairman 
 
Shore Capital (Nomad and        Tel. +44 (0)20 
 Joint Broker)                   7408 4090 
Toby Gibbs or Mark Percy 
 (Corporate Finance) 
Jerry Keen (Corporate Broking) 
 
Panmure Gordon (Joint Broker)   Tel. +44 (0)20 
                                 7886 2500 
Adam James or Tom Salvesen 
 
Vigo Communications             Tel. +44 (0)20 
                                 7830 9704 
Patrick d'Ancona or Ben Simons  zoltav@vigocomms.com

About Zoltav

Zoltav is an oil and gas exploration and production company focused on acquiring and developing assets in the CIS.

Zoltav holds the Bortovoy Licence in the Saratov region of South Western Russia, a 3,215 square kilometre area along the northern margin of the Pre-Caspian basin, one of the largest hydrocarbon basins in the CIS.

The Bortovoy Licence contains a number of productive gas fields, a processing plant and significant exploration prospectivity. It holds Proved plus Probable reserves of 750 bcf (21.2 bcm) of gas and 3.8 mmbbls (488 mT) of oil and condensate. In 2015 the Bortovoy Licence produced approximately 3.1 mmboe (440 mToe).

Zoltav also holds the Koltogor E&P Licence, a 528 square kilometre area in the Khantiy-Mansisk Autonomous Okrug of Western Siberia, one of Russian's most prolific oil producing regions. The Koltogor E&P Licence contains the Koltogor oil field with Proved plus Probable reserves of 79.2 mmboe (10.3 mToe).

Additionally, Zoltav holds Koltogor E&P Licence 10, a 167 square kilometre area due west of the Koltogor E&P Licence, containing the West Koltogor oil field.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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May 24, 2016 10:06 ET (14:06 GMT)

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