Nordic Energy Plc
Nordic Energy Plc: Relinquishment of Danish Licence
Nordic Energy Plc / Trading Statement 1 December 2015 Nordic Energy PLC/ Index: ISDX / Epic: NORP / Sector: Oil & Gas Nordic Energy Plc Relinquishment of Danish Licence The Board of Nordic Energy PLC, an oil and gas E&P company focussed on Denmark, Norway, and the North Sea sectors of the Netherlands and the UK (the Nordic Area), announces that it has relinquished its Danish license 1/13 (‘the Licence’). The Danish Energy Authority granted the Company an extension for the completion of Phase 1 of its work programme on the License until 1 December 2015 due to difficulties in securing adequate financing to advance the work programme as anticipated. The Company had been in discussions with a number of parties in respect of raising additional funding, however, these discussions have concluded and the Company has been unable to secure the funding it required in time. As a result, the Company has relinquished the Licence and has a material working capital constraint. The Company is currently reviewing its strategic options and will update the market in due course. For further information please visit www.nordicenergyplc.com or contact: Enquiries: Ken Seymour Nordic Energy PLC Tel: +44 77 1729 5064
01-Dec-2015 The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English | |
Company: | Nordic Energy Plc | |
London | ||
United Kingdom | ||
Phone: | +44 (0)2071487900 | |
E-mail: | jo.turner@cairnfin.com | |
Internet: | www.nordicenplc.com | |
ISIN: | GB00B893LZ79 | |
WKN: | A1W9U7 | |
Category Code: | TST | |
TIDM: | NORP | |
Sequence Number: | 2932 | |
Time of Receipt: | 01-Dec-2015 / 15:28 CET/CEST | |
End of Announcement | EQS News Service |