TIDMWBN

RNS Number : 6052H

Woburn Energy PLC

24 June 2013

For immediate release

24 June 2013

Woburn Energy Plc

("Woburn" or the "Company")

Suspension of trading on AIM and corporate update

As announced on 18 June 2013, Woburn received payment of the third and fourth instalments in respect of the disposal by its then 51 per cent. owned subsidiary, LQRC, of its 50 per cent. working interest in the Las Quinchas Association Contract (the "Disposal"), in aggregate amounting to US$3,913,123.

The Disposal, which was approved by shareholders on 21 June 2012 (the "General Meeting"), constituted a fundamental change of business of the Company under Rule 15 of the AIM Rules ("Rule 15"), which resulted in the Company becoming an Investing Company.

As an investing company under the AIM Rules, Woburn must have either substantially implemented its investing policy or concluded a reverse takeover on or before 21 June 2013 or otherwise its shares would be suspended from trading on AIM. Accordingly, the Company's shares have been suspended with effect from today.

The Company will have a further six months to conclude a transaction before its shared are cancelled from trading on AIM. The Board is pursuing a number of possible substantial opportunities in the oil and gas sector to implement its investing policy and a further announcement will be made in due course.

As previously announced, the Annual General Meeting of Woburn Energy Plc will be held at the offices of Kennedys LLP at 10.00 a.m. on 28 June 2013.

For further information, please contact:

 
 Woburn Energy Plc                     Tel: +44 (0) 20 7380 
                                        4600 
 Kamran Ahmed                          www.woburnenergy.com 
 Beaumont Cornish Limited (Nominated   Tel: +44 (0)20 7628 3396 
  Adviser) 
 Michael Cornish

Definitions

 
 "Las Quinchas Association   The association contract between Empresa 
  Contract"                   Colombiana De Petroleos (Ecopetrol) and 
                              Clavijo Avila Geopozos & Company S.A. dated 
                              29 January 1996 (as amended) 
 "LQRC"                      Las Quinchas Resource Corporation

ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

END

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