ATI Oil Plc

June 16, 2008 02:15 ET

Directors' Shareholding - Issue of Warrants

                                                                                          16 June 2008
                                                                       ISIN: GB00B04BP253/GBP/PLUS-exn
                                              ATI Oil Plc
                                             Martin House
                                             5 Martin Lane
                                               EC4R 0DP
                                       Tel: +44 (0)20 7469 2940
                                       Fax: +44 (0)20 7469 2901

                                              ATI Oil Plc

                                        ("ATI" or "the Company")

                             Directors' Shareholdings - Issue of Warrants

Following  the appointment of Per Gunnar Loge as Chief Executive and Erik Jorgensen as a Non Executive
Director,  the  Board has approved the issue to directors of warrants exercisable into  the  Company's
shares at the mid market price at close of business on 13 June 2008 as detailed below:

    Warrantholder        No. of Warrants      Exercise Price      Vesting Date         Expiry Date
Tranche 1:  
Chris Foss                   250,000              31.5p            16/06/2008          16/06/2013
Erik Jorgensen               125,000              31.5p            16/06/2008          16/06/2013
Ian Livingstone              125,000              31.5p            16/06/2008          16/06/2013
Loge Resources AS*           500,000              31.5p            16/06/2008          16/06/2013
Derek Musgrove               250,000              31.5p            16/06/2008          16/06/2013
Tranche 2: 
Loge Resources AS*           500,000              31.5p            01/07/2009          01/07/2014
Tranche 3:
Loge Resources AS*           500,000              31.5p            01/07/2010          01/07/2015

*  Per  Gunnar Loge, Chief Executive of ATI, is Chairman, Chief Executive and majority shareholder  in
Loge Resources AS.

In  addition  to  the  above, the Board has approved the award of a further 1.75 million  warrants  to
directors  that  will vest upon the admission of the Company's ordinary shares to trading  on  AIM  or
another stock exchange. These warrants will expire five years after vesting.

These  new  warrants  have been issued as a continuation of the Board's policy of providing  primarily
performance based incentives to Directors.

               The Directors of the Issuer accept responsibility for this announcement.
Contact Details:

ATI Oil Plc
Derek Musgrove, Chairman
Per Gunnar Loge, Chief Executive
Chris Foss, Finance Director
Tel: 020 7469 2940

St.Helen's Capital Plc
Barry Hocken/Duncan Vasey
Tel: 020 7628 5582

Hansard Communications
Chris Roberts/Kirsty Corcoran
Tel: 020 7245 1100

For further information on ATI's Italian assets please see our web site,

Contact Information

  • ATI Oil plc