17 July 2014
Clontarf Energy plc
("Clontarf" or the "Company")
Update on Ghana Legal Proceedings
The board of Clontarf are pleased to report that an agreement has been reached with the Ghanaian authorities which clarifies the co-ordinates of the signed Petroleum Agreement on a licence Block in the Tano area of Ghana. It was agreed that additional, contiguous acreage would be added to preserve the size of the Block. The agreement is between Pan Andean Resources Ltd (60% Clontarf, 30% Petrel, 10% local interests) the Ghana National Petroleum Corporation and the Government of Ghana. All parties agreed to seek to expedite the ratification process which requires Cabinet and Parliamentary approval.
As a consequence of this, Pan Andean Resources has discontinued its High Court proceedings with rights to reapply.
ENDS
Enquiries:
Clontarf Energy Plc
John Teeling, Chairman +353 (0)1 833 2833
James Finn Director +353 (0)1 833 2833
Northland Capital Partners Limited
Nominated Adviser and Broker
+ 44 (0)20 7382 1100
Gavin Burnell / Lauren Kettle
John Howes / Alice Lane (Broking)
Blytheweigh +44 (0) 207 138 3204
Tim Blythe +44 (0) 781 692 4626
Eleanor Parry +44 (0) 755 129 3620
Halimah Hussain +44 (0) 772 597 8141
Pembroke Communications
Natalie Tennyson +353 (0) 1 649 6340
