TIDMZOL

RNS Number : 1175R

Zoltav Resources Inc

25 June 2020

25 June 2020

Zoltav Resources Inc.

("Zoltav" or the "Company")

Delay in Publication of 2019 Annual Report

Zoltav (AIM: ZOL), the Russia-focused oil and gas exploration and production company, announces that there will be a delay in the publication of the Company's audited financial results for the year ended 31 December 2019 ("Final Results").

The delay is occasioned at the request of the Company and its auditors, Ernst & Young LLC, and to reflect the additional time needed to complete the audit given the COVID-19 pandemic and the associated travel restrictions and delays in fulfilling audit requests as a result of the finance function operating remotely.

Accordingly, the Company has requested and received an extension to its filing deadline for its Final Results from 30 June 2020 to 30 September 2020.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Contacts:

 
Zoltav Resources Inc.                  Tel. +44 (0)20 7390 
                                        0234 
Lea Verny, Non-executive Chairman      (via Vigo Communications) 
 
 
SP Angel Corporate Finance LLP (Nomad  Tel. +44 (0)20 3470 
 and Joint Broker)                      0470 
John Mackay / Jeff Keating / Soltan 
 Tagiev 
 
Panmure Gordon (Joint Broker)          Tel. +44 (0)20 7886 
                                        2500 
James Stearns 
 
Vigo Communications                    Tel. +44 (0)20 7390 
                                        0234 
Ben Simons / Simon Woods               zoltav@vigocomms.com

About Zoltav

Zoltav is an oil and gas exploration and production company focused on Russia.

Zoltav holds the Bortovoy Licence in the Saratov region of South Western Russia, a 3,215 sq km area along the northern margin of the Pre-Caspian basin, one of the largest hydrocarbon basins in the CIS.

The Bortovoy Licence contains a number of productive fields in the west of the Licence, a processing plant and significant exploration prospectivity. It holds proven plus probable reserves under the Society of Petroleum Engineers' Petroleum Resources Management System of 750 bcf of gas and 3.8 mmbbls of oil and condensate.

In 2018, Zoltav produced 12.0 bcf (341 mmcm) of gas or 2.0 mmboe (274 mtoe) and 66,558 bbls (7,715 t) of oil and condensate.

The Company is currently evaluating strategies to commercialise the eastern fields of the Bortovoy Licence.

For further information on Zoltav, or to sign up for our news alert service, visit: www.zoltav.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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June 25, 2020 08:26 ET (12:26 GMT)

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