13 Sep 2010 15:00
Black Marlin Energy Holdings Limited receives shareholder approval for the proposed acquisition by Afren Plc
London, 13 September 2010 - Afren plc ("Afren") (LSE: AFR) and Black Marlin Energy Holdings Limited ("Black Marlin") (TSX-V: BLM) are pleased to announce that Black Marlin has received the approval of the required majority of shareholders for the acquisition by Afren plc.
At Black Marlin's General Meeting held on Friday 10th September in connection with the proposed acquisition of Black Marlin by Afren, all resolutions were approved by the requisite majority of shareholders.
The acquisition combines two portfolios that offer a complementary fit, providing a balanced exposure across the full E&P value cycle of production, development, appraisal and exploration. Black Marlin's portfolio of assets represents an attractive, multi-country entry position in East Africa, a region that has emerged as an exploration province of global interest following recent significant discoveries. The 12 assets located in Kenya, Ethiopia, Madagascar and Seychelles are located in basins with proven or strong evidence of working hydrocarbon systems.
The Afren General Meeting to approve the Ordinary Resolution, pursuant to the Notice of AGM dated 24th August 2010, will be held on 21st September 2010.
| For further information contact: |
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| Afren plc |
| +44 20 7451 9700 |
| Osman Shahenshah |
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| Galib Virani |
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Black Marlin Energy Holdings |
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| Richard Schmitt |
| +971 (0)4 437 6700 |
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Pelham Bell Pottinger |
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+44 20 7861 3232 |
| James Henderson |
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| Mark Antelme
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| Finsbury |
| +44 20 7251 3801 |
| Andrew Mitchell Matthew Newton |
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Notes to Editors
Afren
Afren is an African focused independent oil and gas exploration and production company listed on the main market of the London Stock Exchange and a constituent of the FTSE 250. Afren is currently producing from its assets offshore Nigeria and Côte d'Ivoire, with a significant appraisal and development project due onstream in 2010 from Nigeria. Afren has operated exploration interests in Ghana, Côte d'Ivoire and Nigeria, with minority exploration interests in Congo Brazzaville and the Joint Development Zone of Nigeria - São Tomé & Príncipe. For further information please refer to www.afren.com.
Black Marlin
Black Marlin Energy is an independent exploration and appraisal company listed on the TSX Venture Exchange (ticker symbol: BLM). The company holds 12 exploration blocks in Kenya, Ethiopia, Madagascar and the Seychelles. Its strategy is to focus on exploration opportunities where the potential for large discoveries exists in under-explored basins.