AEL Anzon Energy

RNS Number:7439T
Anzon Energy Limited
06 May 2008


                                   6 May 2008

                        ANZON ENERGY LIMITED (CODE: AEL)

                        Merger with Nexus not to Proceed


On 23 January 2008 Anzon Energy Limited ("Anzon Energy") and Nexus Energy
Limited ("Nexus") announced their intention to merge by way of Scheme of
Arrangement ("Merger").

On 18 April 2008, the scheme meeting to vote on the Merger was adjourned from
its original date of 18 April 2008 to allow Anzon Energy, Anzon Australia
Limited ("Anzon Australia") and Nexus to assess the results of the Basker 6 and
Basker 6 ST1 drilling program.

Anzon Energy, Anzon Australia and Nexus have been unable to agree on the impact
the Basker 6 and Basker 6 ST1 drilling programs have had on Anzon Australia's
Basker Manta Gummy oil and gas fields. This has lead to Anzon Energy and Nexus
not being able to agree appropriate terms on which to proceed with the Merger.
As such, Anzon Energy and Nexus have this morning terminated the merger
implementation deed and agree not to proceed with the Merger. This decision has
been mutually agreed and is to be effected at no cost to either party.

Anzon Australia also announced the termination of its merger with Nexus. A copy
of the ASX announcement made by Anzon Australia on 5 May 2008, is set out below.

The adjourned scheme meeting will now not take place and Anzon Energy will be
applying to the Federal Court to make orders to cancel the Scheme Meeting. A
further announcement will also be made in relation to the adjourned
extraordinary general meeting in due course.

As a result Anzon Energy will continue to operate as an independent entity and
will remain admitted to AIM. It is Anzon Energy's current intention to use its
strong cash balance and interest in Anzon Australia to assess opportunities to
grow and enhance the value of Anzon Energy for all shareholders.

For further information please contact:

Anzon Energy Limited: Mr Tony Strasser +61 2 9024 3555.

Grant Thornton Corporate Finance: Fiona Owen +44 20 7383 5100.



                                   5 May 2008

                    ANZON AUSTRALIA LIMITED (ASX CODE: AZA)

                        MERGER WITH NEXUS NOT TO PROCEED


On 23 January 2008 Anzon Australia Limited ("Anzon Australia") (ASX: AZA) and
Nexus Energy Limited ("Nexus") (ASX: NXS) announced their intention to merge by
way of Scheme of Arrangement ("Merger").

As previously announced, the scheme meeting to vote on the Merger was adjourned
from its original date of 18 April 2008 to allow Anzon Australia and Nexus to
assess the results of the Basker 6 and Basker 6 ST1 drilling program.

Anzon Australia and Nexus have been unable to agree on the impact the Basker 6
and Basker 6 ST1 drilling programs have had on Anzon Australia's Basker oil
field and therefore have not been able to agree on appropriate terms to allow
the Merger to proceed. As such, Anzon Australia and Nexus have this morning
terminated the merger implementation deed and agreed not to proceed with the
Merger. This decision has been mutually agreed and is to be effected at no cost
to either party.

Anzon Australia will be applying to the Federal Court to make orders to cancel
the Scheme Meeting. As a result, Anzon Australia will continue to operate as an
independent entity and will remain listed on the ASX.

As an independent entity, with existing oil production, an unhedged exposure to
strong oil prices, an expanded development planned for 2010 (with the proposed
larger floating production, storage and offtake facility, FPSO) and high
potential, identified prospects for imminent appraisal, Anzon Australia will be
in an excellent position to exploit these and other opportunities that increase
the value of the company for all shareholders.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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