ST. HELIER, Jersey, Jan. 18, 2013 /CNW/ - EastSiberian Plc (the "Corporation"), an international junior oil exploration company incorporated in the Bailiwick of Jersey, announces that at its Annual General Meeting held on January 18, 2013, the current slate of directors was re-elected, the stock option plan of the Corporation was ratified, and the shareholders agreed to re-appoint KPMG LLP as auditors of the Corporation for the ensuing year.
Relinquishment of the Tigilskaya Exploration Licence
The Corporation also announces that it has applied to relinquish the Tigilskaya exploration licence in Kamchatka, Russia. This licence was obtained from the Russian Government in September 2011 on the basis of defined work commitments. The Corporation has attempted to find a joint venture partner to farm into the licence, but has not been successful to date. The Company has decided to relinquish the licence and focus on proven oil basins in Russia. The relinquishment of the licence awaits final approval from the Russian Government. There were no penalties or other costs associated with the relinquishment and this marks the completion of activity and licence holdings in the Kamchatka region.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information in respect of the Corporation, please visit the Corporation's website at: www.eastsiberianplc.com
SOURCE EastSiberian Plc