Zoltav (AIM:ZOL), the CIS-focused oil and gas exploration and production company, is pleased to announce the completion of the acquisition of Royal Atlantic Energy (Cyprus) Limited (“Royal Atlantic Energy”) (the “Acquisition”) and the admission at 8 a.m. today of its enlarged issued share capital to trading on the AIM market of the London Stock Exchange.
Acquired 100 per cent. interest in the Bortovoy Licence in the Saratov Oblast of the Russian Federation – 3,215 square kilometre area containing a number of productive gas fields, a processing plant and significant exploration prospectivity
- Bortovoy Licence contains Proved plus Probable Reserves of 750 billion cubic feet (21.2 billion cubic metres) of gas and 3.9 million barrels of oil and condensate
- Considerable upside potential from additional prospects within the Bortovoy Licence area and scope for increased production through the construction of additional facilities
- Raised US$65,946,418 from ARA Capital, Crediton Invest and Matteson overseas through the issue of 41,216,511 Ordinary Shares at US$1.60 (100 pence)
Shore Capital acts as Nomad and Broker to Zoltav Resources Inc.
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