Grant of Options
October 16 2009 - 12:54PM
UK Regulatory
TIDMPELE
RNS Number : 9582A
Petrolatina Energy PLC
16 October 2009
16 October 2009
PetroLatina Energy Plc
("PetroLatina" or the "Company")
Grant of Options / Change of Name of Nominated Adviser and Broker
PetroLatina (AIM: PELE), the oil and gas exploration, development and production
company focused on Latin America, has today, at the recommendation of the
Company's Remuneration Committee submitted on June 30th, 2009 and approved by
the Board of Directors on August 25th, 2009, granted options over 2,270,000
ordinary shares of US$0.10 each in the share capital of the Company (the
"Shares") to certain directors and employees under the terms of an existing
unapproved share option plan. The options vest over a three year period from
today and are immediately exercisable, in whole or in part, up to the fifth
anniversary of the date of grant, at an exercise price of 44.5 pence per Share.
Details of the grant of options to the directors of the Company are as follows:
+---------------------+-------------+----------------+------------------------+
| | Number of | Exercise price | Total number of shares |
| | options | per share | held under option or |
| | granted | | warrants |
+---------------------+-------------+----------------+------------------------+
| Luc Gerard | 600,000 | 44.5p | 600,000 |
+---------------------+-------------+----------------+------------------------+
| Juan Carlos | 1,000,000 | 44.5p | 1,000,000 |
| Rodriguez | | | |
+---------------------+-------------+----------------+------------------------+
| Ciro Mendez | 250,000 | 44.5p | 250,000 |
+---------------------+-------------+----------------+------------------------+
| Menno Wiebe | 250,000 | 44.5p | 250,000 |
+---------------------+-------------+----------------+------------------------+
| John May | 50,000 | 44.5p | 70,000 |
+---------------------+-------------+----------------+------------------------+
Details of the grant of options to employees of the Company are as follows:
+---------------------+-------------+----------------+------------------------+
| | Number of | Exercise price | Total number of shares |
| | options | per share | held under option or |
| | granted | | warrants |
+---------------------+-------------+----------------+------------------------+
| Mario Prince | 60,000 | 44.5p | 60,000 |
+---------------------+-------------+----------------+------------------------+
| Diego Bustamante | 60,000 | 44.5p | 60,000 |
+---------------------+-------------+----------------+------------------------+
Additionally, the Company announces that Strand Partners Limited, the Company's
Nominated Adviser and Broker, has changed its name to Strand Hanson Limited with
immediate effect.
Enquiries:
+-----------------------------------------------+---------------------------+
| PetroLatina Energy Plc | Tel: +57 1627 8435 |
| Juan Carlos Rodriguez, Chief Executive | |
| Officer | |
+-----------------------------------------------+---------------------------+
| Pawan Sharma, Executive Vice President - | Tel: +44 (0)20 7766 0081 |
| Corporate Affairs | |
+-----------------------------------------------+---------------------------+
| | |
+-----------------------------------------------+---------------------------+
| Strand Hanson Limited | |
+-----------------------------------------------+---------------------------+
| Simon Raggett / Matthew Chandler | Tel: +44 (0)20 7409 3494 |
+-----------------------------------------------+---------------------------+
| | www.strandhanson.co.uk |
+-----------------------------------------------+---------------------------+
| | |
+-----------------------------------------------+---------------------------+
| Financial Dynamics | |
+-----------------------------------------------+---------------------------+
| Ben Brewerton / Susan Quigley | Tel: +44 (0)20 7831 3113 |
+-----------------------------------------------+---------------------------+
Additional Information on PetroLatina Energy Plc:
PetroLatina Energy Plc (AIM: PELE), formerly known as Taghmen Energy Plc, was
founded in 2004. The Company is presently focused on Colombia after the sale of
its assets in Guatemala in which it retains a 20% interest in the first three
wells and a 20% working interest in future wells. In Colombia, the Company
currently holds 40% and 20% interests in the Los Angeles and Santa Lucía fields
on the Tisquirama licence respectively, and a 100% interest in the Doña María
field. In November 2007 the Company secured the extension of the Tisquirama
licence for the economic life of the fields. In April 2006 the Group acquired an
interest in two exploration blocks with an 85% interest in Midas and an 80%
interest in La Paloma. PetroLatina also owns the Río Zulia-Ayacucho pipeline in
the prolific Catatumbo basin which transports crude oil. Present
exploration/exploitation activities in this area should increase the volume of
crude oil transported resulting in an increased cash flow. Further information
is available on the Company's website (www.petrolatinaenergy.com).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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