SOGP Sovereign Oil

 

TIDMSOGP 
 
RNS Number : 5782H 
Sovereign Oilfield Group plc 
24 February 2010 
 

 
 
                          SOVEREIGN OILFIELD GROUP Plc 
 
                  ("Sovereign" or "the Company" or "the Group") 
 
                              Suspension of Trading 
 
The Board announces that it has requested that trading in its securities be 
suspended with immediate effect pending clarification of its financial position. 
 
As announced on 19 January 2010 the board has been in continued discussions with 
its lending consortium to re-negotiate the terms of its existing loans as the 
Board has been uncertain that the Group's future trading performance will be 
able to support the current levels of debt. The Company has received a number of 
enforcement orders from its creditors and without continued support from the 
lending consortium it will be unable to meet these payments. 
 
A further announcement will be made in due course. 
 
Further information: 
Sovereign Oilfield Group Plc 
   Tel: 01224 261900 
John Strachan, Chief Executive Officer 
 
Charles Stanley Securities - Nominated Adviser                           Tel: 
0207 149 6000 
Mark Taylor 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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