TIDMFOGL TIDMDES

RNS Number : 6716P

Falkland Oil and Gas Limited

03 October 2013

FORM 8 (OPD)

PUBLIC OPENING POSITION DISCLOSURE BY A PARTY TO AN OFFER

Rules 8.1 and 8.2 of the Takeover Code (the "Code")

It has not been practicable for Falkland Oil and Gas Limited ("FOGL") to make enquiries of all its concert parties in advance of releasing this opening position disclosure.

Therefore this disclosure may not include all the relevant details in respect of FOGL's concert parties. FOGL confirms that further disclosure in accordance with Rule 8.1(a) and Note 2(a)(i) on Rule 8 of the Takeover Code will be made as soon as possible, if required.

   1.         KEY INFORMATION 
 
 (a) Identity of the party to the offer making the disclosure:       Falkland Oil and Gas Limited ("FOGL") 
------------------------------------------------------------------  -------------------------------------------------- 
 (b) Owner or controller of interests and short positions            N/A 
 disclosed, if different from 1(a): 
 The naming of nominee or vehicle companies is insufficient 
------------------------------------------------------------------  -------------------------------------------------- 
 (c) Name of offeror/offeree in relation to whose relevant           Desire Petroleum plc ("Desire") being the offeree 
 securities this form relates: 
 Use a separate form for each party to the offer 
------------------------------------------------------------------  -------------------------------------------------- 
 (d) Is the party to the offer making the disclosure the offeror     OFFEROR 
 or the offeree? 
------------------------------------------------------------------  -------------------------------------------------- 
 (e) Date position held:                                             3 October 2013 
------------------------------------------------------------------  -------------------------------------------------- 
 (f) Has the party previously disclosed, or is it today 
 disclosing, under the Code in respect                                 YES 
 of any other party to this offer? 
                                                                       Falkland Oil and Gas Limited 
------------------------------------------------------------------  -------------------------------------------------- 
 
   2.         POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE 

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates

 
 Class of relevant security:                            Ordinary share of 1p each in Desire 
--------------------------------------------------  ------------------------------------------ 
                                                           Interests          Short positions 
--------------------------------------------------  ----------------------  ------------------ 
                                                         Number         %       Number      % 
--------------------------------------------------  ----------------  ----  -------------  --- 
 (1) Relevant securities owned and/or controlled:           0           0         0         0 
--------------------------------------------------  ----------------  ----  -------------  --- 
 (2) Derivatives (other than options):                      0           0         0         0 
--------------------------------------------------  ----------------  ----  -------------  --- 
 (3) Options and agreements to purchase/sell:               0           0         0         0 
--------------------------------------------------  ----------------  ----  -------------  --- 
 
   TOTAL:                                                   0           0         0         0 
--------------------------------------------------  ----------------  ----  -------------  --- 
 

All interests and all short positions should be disclosed.

Details of any open derivative or option positions, or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

Details of any securities borrowing and lending positions or financial collateral arrangements should be disclosed on a Supplemental Form 8 (SBL).

   (b)        Rights to subscribe for new securities 
 
 Class of relevant security in relation to which subscription right exists:    N/A 
----------------------------------------------------------------------------  ---- 
 Details, including nature of the rights concerned and relevant percentages:   N/A 
----------------------------------------------------------------------------  ---- 
 

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

   (c)        Irrevocable commitments and letters of intent 
 
 Details of any irrevocable commitments or letters of intent procured by the party to the offer 
  making the disclosure or any person acting in concert with it (see Note 3 on Rule 2.11 of 
  the Code): 
----------------------------------------------------------------------------------------------- 
 
 
                     Desire Shares subject to irrevocable undertakings from directors of Desire 
 Name                        Number of Desire Shares             % of Desire issued share capital 
 Directors: 
 Stephen Phipps                           36,702,633                                       10.72% 
 Ian Duncan                                  485,369                                        0.14% 
 Eddie Wisniewski                             30,000                                       0.009% 
 Ken Black                                    75,000                                       0.022% 
 Andrew Windham                               37,555                                       0.011% 
 Robert Lyons                                 75,000                                       0.022% 
 
   3.         POSITIONS OF PERSONS ACTING IN CONCERT WITH THE PARTY TO THE OFFER MAKING THE DISCLOSURE 
 
 Details of any interests, short positions and rights to subscribe of any person acting in 
  concert with the party to the offer making the disclosure: 
------------------------------------------------------------------------------------------ 
 
 
 Name                 Number of Desire Shares   % of Desire issued share capital 
 Timothy Jones, 
  director of FOGL                     16,638                          0.000049% 
 David Hudd, 
  director of FOGL                      1,000                          0.000029% 
 

It has not been practicable for FOGL to make enquiries of all its concert parties in advance of releasing this opening position disclosure.

Therefore this disclosure may not include all the relevant details in respect of FOGL's concert parties. FOGL confirms that further disclosure in accordance with Rule 8.1(a) and Note 2(a)(i) on Rule 8 of the Takeover Code will be made as soon as possible, if required.

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3 for each additional class of relevant security.

Details of any open derivative or option positions, or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

Details of any securities borrowing and lending positions or financial collateral arrangements should be disclosed on a Supplemental Form 8 (SBL).

   4.         OTHER INFORMATION 
   (a)        Indemnity and other dealing arrangements 
 
 Details of any indemnity or option arrangement, or any agreement or understanding, formal 
  or informal, relating to relevant securities which may be an inducement to deal or refrain 
  from dealing entered into by the party to the offer making the disclosure or any person acting 
  in concert with it: 
  If there are no such agreements, arrangements or understandings, state "none" 
------------------------------------------------------------------------------------------------ 
 
   None 
------------------------------------------------------------------------------------------------ 
 
   (b)        Agreements, arrangements or understandings relating to options or derivatives 
 
 Details of any agreement, arrangement or understanding, formal or informal, between the party 
  to the offer making the disclosure, or any person acting in concert with it, and any other 
  person relating to: 
  (i) the voting rights of any relevant securities under any option; or 
  (ii) the voting rights or future acquisition or disposal of any relevant securities to which 
  any derivative is referenced: 
  If there are no such agreements, arrangements or understandings, state "none" 
---------------------------------------------------------------------------------------------- 
 
   None 
---------------------------------------------------------------------------------------------- 
 
   (c)        Attachments 

Are any Supplemental Forms attached?

 
 Supplemental Form 8 (Open Positions)   NO 
-------------------------------------  --- 
 Supplemental Form 8 (SBL)              NO 
-------------------------------------  --- 
 
 
 Date of disclosure: 
                          3 October 2013 
---------------------  -------------------- 
 Contact name: 
                          Mark Rushton, RBC 
---------------------  -------------------- 
 Telephone number:      +44 (0)20 7653 4980 
---------------------  -------------------- 
 

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@disclosure.org.uk. The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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