QOGT Quorum Oil &Gas

 

TIDMQOGT 
 
RNS Number : 9041M 
Quorum Oil and Gas Tech. Fund Ld 
02 June 2010 
 

  Not for release, publication or distribution in, or into, the United States, 
                          Canada, Australia or Japan. 
 
+------------------------------+------------------------------+ 
| Press Release                |                  2 June 2010 | 
+------------------------------+------------------------------+ 
 
 
                   Quorum Oil and Gas Technology Fund Limited 
 
                Statement re Investment Management Arrangements 
 
 
Quorum Oil and Gas Technology Fund Limited (the "Fund") announces that it has 
been made aware of an ongoing dispute between the two firms engaged by the Fund 
under the investment management and advisory agreement (the "IMAA") as the 
Fund's joint discretionary investment managers (the "Investment Managers"). 
 
The directors who are independent of the Investment Managers (the "Independent 
Directors") have been engaged in seeking to facilitate a resolution to enable 
the management of the Fund to continue on the intended basis and to ensure that 
the investments of the Company are not adversely affected. 
 
The Independent Directors have required the Investment Managers to resolve the 
dispute to the Fund's satisfaction and to demonstrate that they have 
re-established a proper working relationship and can work together 
constructively in the Fund's best interests. The Fund has taken steps under the 
terms of the IMAA to protect the interests of the Fund in the event that the 
Investment Managers are unable to do so. 
 
The Independent Directors have, with the assistance of the Fund's broker, 
undertaken an initial constructive consultation with holders of the majority of 
the Fund's share capital regarding the dispute. They would also welcome an open 
dialogue with other shareholders. A further announcement and a trading update 
regarding the investee companies will be made in due course. 
 
                                    - Ends - 
 
For further information: 
+----------------------------------------+---------------------+ 
| Corporate Broker                       |                     | 
+----------------------------------------+---------------------+ 
| Numis Securities                       |                     | 
+----------------------------------------+---------------------+ 
| Nathan Brown                           | Tel: +44 (0)20 7260 | 
|                                        |                1426 | 
+----------------------------------------+---------------------+ 
| n.brown@numiscorp.com                  |                     | 
+----------------------------------------+---------------------+ 
 
Media enquiries: 
+----------------------------------------+-------------------------+ 
| Abchurch                               |                         | 
+----------------------------------------+-------------------------+ 
| Henry Harrison-Topham / Mark Dixon     |         Tel: +44 (0) 20 | 
|                                        |               7398 7729 | 
+----------------------------------------+-------------------------+ 
| mark.dixon@abchurch-group.com          | www.abchurch-group.com  | 
+----------------------------------------+-------------------------+ 
 
Notes to editors: 
 
Quorum Oil and Gas Technology Fund Limited ("Q-OGT") is a registered 
closed-ended investment company incorporated in Guernsey to provide expansion 
capital to companies which own and/or are developing proven proprietary 
technology which may have a potentially significant effect on the oil and gas 
industry. Q-OGT was admitted to the Official List of the UK Listing Authority 
and to trading on the London Stock Exchange on 7 January 2008. Its stock market 
EPIC is QOGT.L. Further information can be found at www.q-ogtfund.com 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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