28 September 2009 - Share Buy Back Programme
Press Release
For immediate release: 28 September 2009
EnCore Oil plc (‘EnCore’ or ‘the Company’)
Share Buy Back Programme
EnCore Oil plc (LSE: EO.) announces that it will today commence a share buy back programme through its broker, Hanson Westhouse Limited, using the authority granted by shareholders at the Company’s AGM on 17 September 2009.
Shareholders approved the buy back of up to 100,000,000 ordinary shares. Shares purchased will be cancelled. No shares purchased will be held in treasury.
The shares will be purchased on-market on the London Stock Exchange within certain pre-set parameters. Subject to the Company being in close periods, the programme can continue for up to 12 months from the date it was approved, following which authority from shareholders may or may not be sought again.
Announcements providing details of shares purchased in the programme will be made in accordance with the AIM Rules for Companies.
Click here for a pdf of the announcement
For further information, please contact:
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EnCore Oil plc
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www.encoreoil.co.uk
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Alan Booth, Chief Executive Officer
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+44 (0)20 7224 4546
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Eugene Whyms, Chief Financial Officer
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Yvonne Fraser, Investor Relations Manager
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+44 (0)7957 241 408
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Aquila Financial Limited
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www.aquila-financial.com
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Peter Reilly
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+44 (0) 118 979 4100
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Hanson Westhouse Limited
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Tim Feather
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+44 (0) 20 7601 6100
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Matthew Johnson
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Notes to Editors:
EnCore Oil plc (LSE:EO.) is an oil and gas exploration and production (E&P) company quoted on AIM.
At EnCore, it is not the Company’s aim to build a full cycle E&P company. The principal strategy is to create shareholder value through the successful exploration and appraisal of prospects and discoveries. The Company will seek to monetise or exchange the asset at the appropriate point in its life cycle and return value directly to shareholders wherever possible.
EnCore has an experienced and proven management team, a number of whom were responsible for the discovery of the Buzzard field in the UK North Sea, which currently produces 10 per cent. of the UK’s total oil production.
All EnCore’s commercial and material technical evaluations are undertaken in-house by the EnCore team. This brings both continuity to the management and development of the assets and an ownership that is vital to unearth the best and most creative new ideas and opportunities.
www.encoreoil.co.uk
Monday, September 28, 2009
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