Exemption from Canadian Oil and Gas Reporting Obligations
January 10 2019 - 2:00AM
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 SerinusSerinus 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 |
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+1-403-264-8877 |
Jeffrey
Auld, Chief Executive Officer Calvin Brackman, Vice President,
External Relations & Strategy |
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Numis Securities Limited |
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+44 (0) 20
7260 1000 |
(Nominated
Adviser and Joint Broker) John Prior Paul Gillam Ben Stoop |
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GMP
FirstEnergy |
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+44 (0) 20
7448 0200 |
(Joint
Broker) Hugh Sanderson Jonathan Wright |
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Camarco |
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+44 (0) 20
3781 8334 |
(Financial
PR) Billy Clegg Owen Roberts |
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TBT
i Wspólnicy |
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+48 22 487
53 02 |
(Financial
PR - Warsaw)Piotr Talarek |
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Forward Looking Statement
DisclaimerThis news release includes forward looking
information and statements within the meaning of securities laws.
Such statements relate to the Corporation’s or management’s
objectives, projections, estimates, expectations, or predictions of
the future and can be identified by words such as “plans”,
“assumes”, “will”, “anticipate” and “may” or variations of such
words. These statements are based on certain assumptions and
analyses by the Corporation that reflect its experience and
understanding of future developments. Such statements are subject
to a number of uncertainties, including, but not limited to,
continued listing on the Warsaw Stock Exchange and AIM, the
Corporation’s ability to realize the anticipated benefits of the
delisting and other factors identified in the Corporation’s filings
with regulatory authorities in Canada. Many of these uncertainties
are beyond the Corporation’s control and, therefore, may cause
actual actions or results to differ from those expressed or implied
herein. The Corporation disclaims any intention or obligation to
update or revise any forward looking statements, whether as a
result of new information, future events or otherwise, unless
required by law.
Translation: This news release has been
translated into Polish from the English original.
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