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Ruspetro plc, Senior Secured Notes Offering Postponed
6 February 2012
The Company has decided to postpone the contemplated issuance of Senior Secured Notes (the "Notes"), announced in its release of 25 January. The Company will consider recommencing the offering at a later date.
The proceeds from the Notes offering were principally to be used to replace the existing Sberbank loan facility which is currently due to mature in April 2015.
The conversion of the Limolines Transport Limited ("Limolines") shareholder loan will not proceed as one of the conditions of the conversion, the successful completion of the Notes offering, has not been fulfilled. The Limolines shareholder loan matures in May 2015.
The Company will release an operational update on or before 18 March 2013 and will release its 2012 preliminary results and DeGolyer and MacNaughton's 31 December 2012 reserves' audit on 18 March 2013.
For information about Ruspetro plc contact:
Investors / Analysts:
Dominic Manley, Ruspetro
+44 207 318 1265
Patrick Handley / Catriona McDermott, Brunswick
+44 207 404 5959
Ruspetro plc is an independent oil & gas development and production company, listed on the London Stock Exchange (LSE: RPO). The Company's operations are located on three contiguous license blocks in the middle of the Krasnoleninsk Arch in Western Siberia. Ruspetro assets include proved and probable (2P) reserves of over 1.5 billion barrels of oil.
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