MX Oil / Ticker: MXO / Index: AIM / Sector: Oil & Gas
12 August 2014
MX Oil plc (MX Oil or the Company)
President Signs Mexican Energy Reform Legislation
MX Oil plc, the AIM listed oil and gas company focused on the re-opening Mexican energy sector, is pleased to note that President Enrique Pena Nieto has approved legislation required to reopen Mexicos vast energy industry to the private sector.
This follows approval by both the Lower Congress and the Senate and completes the legislative process required to end state-owned Pemexs monopoly and, in the process, open up the energy sector to foreign investment and expertise.
The Company also notes the governments intention to announce the oil fields which Pemex will retain for production, known as round zero, on 13 August 2014 rather than 17 September 2014, thereby allowing contracts to be awarded to the private sector as early as the first quarter of 2015.
MX Oils Chief Executive Officer Stefan Olivier said, The speed with which Mexico is opening up its energy industry vindicates our decision to position MX Oil as an early mover in what promises to be a new hydrocarbon frontier for the international oil and gas sector.
I look forward to providing further updates on our progress as we work with our established local partner, Geo Estratos, to secure interests in highly attractive concessions which, through development, have the potential to generate significant value for our shareholders.
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For further information please visit www.mxoil.co.uk or contact:
MX Oil PLC
Stefan Olivier, CEO
+44 20 7710 9618
Cairn Financial Advisers LLP
(Nominated Adviser)
Jo Turner/Liam Murray
+44 20 7148 7900
Hybridan LLP
(Lead Broker)
Claire Louise Noyce
Niall Pearson
+44 20 3713 4581
Cornhill Capital
(co-Broker)
Nick Bealer
St Brides Media & Finance Ltd
(Financial PR)
Lottie Brocklehurst
Frank Buhagiar
+44 20 7710 9612
+44 20 7236 1177
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Elisabeth Cowell
St Brides Media & Finance Ltd
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www.stbridesmedia.co.uk
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