Business
Total Voting Rights
Total Voting Rights.
About this update from Seplat Energy Plc
[{"type":"text","content":"\n \nRNS Number : 6454I SEPLAT Petroleum Development Co PLC 02 June 2014 \n \n\nTotal Voting Rights and Capital\n \nLagos and London, 2 June 2014: In accordance with the Financial Conduct Authority's (FCA) Disclosure and Transparency Rule 5.6.1R, Seplat Petroleum Development Company PLC ('the Company') hereby notifies the market that as of 31 May 2014, the Company's issued share capital consists of 553,310,313 ordinary shares with voting rights. There are no ordinary shares held in Treasury.\n \nThe above figure (553,310,313) may be used by shareholders (and others with notification obligations) as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.\n \nNotes to editors:\nSEPLAT Petroleum Development Company (\"SEPLAT\" or \"the Company\") is a leading indigenous oil and gas exploration and development company with a strategic focus on Nigeria, listed on the Main Market of the London Stock Exchange (\"LSE\") (LSE:SEPL) and Nigerian Stock Exchange (\"NSE\") (NSE:SEPLAT). In July 2010, SEPLAT acquired a 45 per cent participating interest in, and was appointed operator of, a portfolio of three onshore producing oil and gas leases in the Niger Delta (OMLs 4, 38 and 41), which includes the Oben, Ovhor, Sapele, Okporhuru, Amukpe and Orogho fields. Since acquisition, SEPLAT has more than tripled production on the three OMLs to over 59 mbbl/d in March 2014, and the Company is targeting 85 mbbl/d by the end of 2016. DMCL estimates that the Company's working interest proved plus probable reserves (\"2P\") in OMLs 4, 38 and 41 amount to 101,756 mbbl of oil and condensate and 573.5 bcf of gas as of 31 October 2013. In June 2013, Newton Energy, a wholly-owned subsidiary of the Company, entered into an agreement with Pillar Oil to acquire a 40 per cent participating interest in the Umuseti/Igbuku Fields, adding approximately 9.7 mmbbl to the Group's 2P oil and condensate reserves and 89.8 bcf of gas. SEPLAT is pursuing a Nigeria focused acquisition strategy and is well-positioned to participate in future divestment programmes by the international oil companies operating in the Niger Delta. For further information please refer to the company website, http://seplatpe...