update ENEGI OIL PLC
AIM ticker: ‘ENEG’
OTC ticker: ‘EOLPF’
8
December 2014
Enegi Oil Plc
("Enegi" or "the Company")
Marginal Field Update
Enegi
is pleased to provide an update on the recent progress of ABT Oil and Gas (“ABTOG”), the
joint venture company owned 50/50 by Enegi and ABTechnology Limited whose strategy is to build a
portfolio of marginal field opportunities which can be developed usin
g appropriate and proven
buoyant technology.
Highlights:
ABTOG continues to
progress its marginal field solutions towards Field Development Plan
readiness;
The offer of award of Block 21/28 provides an opportunity to demonstrate a new approach for
fi
eld development and creates impetus for further exploration in the North Sea;
Increasing industry focus on cost reduction expected to drive operators to consider alternative
approaches to field development, such as the ABTOG solutions and methods;
Negotia
tions with Wood Group PSN continue along with discussions with other
complementary major industry partners;
Discussions between Antrim Energy Limited (the operator of the Fyne Licence) and DECC
regarding the Fyne Field Development Plan are ongoing