QOGT Quorum Oil &Gas

 

TIDMQOGT 
 
RNS Number : 1748R 
Quorum Oil and Gas Tech. Fund Ld 
17 August 2010 
 

  Not for release, publication or distribution in, or into, the United States, 
                          Canada, Australia or Japan. 
 
+------------------------------+------------------------------+ 
| Press Release                |               17 August 2010 | 
+------------------------------+------------------------------+ 
 
 
                   Quorum Oil and Gas Technology Fund Limited 
                                ("the Company") 
 
                  Update on Ambercore Software Inc. investment 
 
 
The Directors of Quorum Oil and Gas Technology Fund Limited (LSE:QOGT), an 
authorized closed-ended investment company incorporated in Guernsey, announce 
the following update on its investment in Ambercore Software Inc. ("Ambercore"). 
 
1.   On 10 August 2010, copy of a notice from the Quorum Investment Pool Limited 
Partnership ("QIP"), an investment fund controlled by an affiliate of QOGT Inc, 
one of the former investment managers, was received by the Company.  This notice 
was a notice of default given by QIP to 1482747 Alberta Limited, the company 
through which all of QIP's (and a portion of the Company's) interests are held 
in Ambercore. 
 
2.   On 12 August 2010, and in response to the above notice and in order to 
protect and preserve the security and position of the Company the Company's 
investment in Ambercore, the Company served notices under the laws applicable in 
Canada in regards to the enforcement of secured rights on 1482747 Alberta 
Limited, Ambercore and its subsidiaries Terrapoint Canada and Terrapoint USA. 
 
3.   Notwithstanding the above, the Company continues to engage in negotiations 
with Ambercore, its other creditors, including QIP, and third parties to put in 
place a mutually agreeable solution to the cashflow issues facing Ambercore. 
 
The Company will provide further updates in due course. 
 
                                    - Ends - 
 
For further information: 
+----------------------------------------+---------------------+ 
| Interim Investment Manager             |                     | 
+----------------------------------------+---------------------+ 
| Sefton Partners LLP                    |                     | 
+----------------------------------------+---------------------+ 
| David Sefton                           |   Tel: +44 (0) 7989 | 
|                                        |             333 371 | 
+----------------------------------------+---------------------+ 
| david@seftonpartners.com               |                     | 
+----------------------------------------+---------------------+ 
 
+----------------------------------------+---------------------+ 
| Corporate Broker                       |                     | 
+----------------------------------------+---------------------+ 
| Numis Securities                       |                     | 
+----------------------------------------+---------------------+ 
| Nathan Brown, Corporate Broking        |     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 an authorized 
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 
 
 MSCKKODDPBKKOFD 
 

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