announcments are due soon, stock price moving should hit 1.80 easily, very interesting story with new field linked in with an indian oil company joint venture and I understand good results from one area, looks great

EEL's shares suspended....that's not looking good.....just when I was thinking of getting in !.

last time they were suspended, it was several months and returned worth about 50% of previous

the chart is positively grotesque ...

a bit like u then cynic

maybe 50% down could still be a winner considering the battering today on markets plus rest of july coming up

rumours circulating on the iii thread that this has gone bust due to high debts and no cash - probably what peak was hoping for if that is the case...

If you listen to the rampers on advfn, this suspension is a good thing!

unbelievable!

sp can't fall while suspended!

lol......true

anyway its too depressing esp last 2 months checking out most shares these days......if a share goes up, u can bet others u have are way down....or some of the nick up a bit and the one that went up gets battered.
that and shorters stealing shares.....i see italy and germany r hoping to stop shorting soon.

shorting ..... i would very much doubt your story, not least because both countries are in EU and assuredly any move would foul of legislation ..... in any case, for A to short, B must be willing to offer the stock ..... hence, there are occasions, when shorting is impossible - Eurotunnel was a good example 2/3 years ago

RNS Number : 8658C
Equator Exploration Limited
05 September 2008






FOR IMMEDIATE RELEASE - 5 September 2008

FOR: EQUATOR EXPLORATION LIMITED

('Equator'or the 'Company')

SUBJECT: Settlement with BW Offshore and update on suspension of share trading





London, 5 September 2008 Equator hereby makes the following announcement to provide details of a settlement of one of the Companys outstanding contingent liabilities and an update on the current suspension of share trading.

Contingent Liabilities

Equator and a number of its wholly-owned subsidiaries have entered into an agreement (the Settlement Agreement) with BW Peace Limited, a subsidiary of BW Offshore AS (BW), to settle all outstanding amounts resulting from the termination of a contract for the provision of an FPSO for the Bilabri oil development in OML122, offshore Nigeria. This Settlement Agreement has now become unconditional and as a result, the contingent liability of US$52million for early termination noted in our most recent financial reports is reduced by US$10million. In addition, if payment is made before 31 December 2008, there will be a further reduction of US$12million, resulting in a net settlement of US$30million plus interest instead of the original potential of US$52 million.

The Company has already paid US$20million, as guarantor under the FPSO Contract. Therefore if payment is made prior to 31 December 2008, a termination payment of US$10.6 million plus interest will satisfy in full all claims from BW. The Company has arranged for the settlement amount to be assigned from the cash proceeds receivable under the farm-out agreement on OPL323 with BG Exploration and Production Nigeria Limited announced on 17 August 2007.

In addition, the Settlement Agreement requires that the Company pays for variation orders under the FPSO Contract. The amount due for one variation order is still under negotiation with a third party but the total is expected to be no more than US$8.2 million, excluding any interest which may be due. Provision has been made under the Settlement Agreement for the variation orders to be funded from the cash proceeds of any farm-out of the Companys interest in OPL321. However, provision has also been made within the Bilabri Settlement Agreement, dated 13 September 2007 (BSA), for amounts due under the FPSO Contract to be paid from the proceeds of the financing of the Bilabri oil development being arranged by Peak Petroleum Industries Nigeria Limited. The status of this financing will be addressed in a separate news release.



2007 Annual Report and Accounts

The Companys shares were suspended from trading at the end of June because the 2007 financials had not been published within the required period of 6 months from the end of 2007. This was due to complications resulting from the implementation of International Financial Reporting Standards and their effect on the accounting treatment of the loans and warrants issued by the Company and of their subsequent re-pricings and repayment deferrals. The treatment has now been agreed with our auditors, PricewaterhouseCoopers, and the financial statements have been submitted to them for their final review. The Board of Directors will publish the 2007 Annual Report and Accounts as soon as it has approved the financial statements. Once published, the Companys share suspension is expected to be lifted and share trading should therefore re-commence.

An update covering other current issues will be distributed in due course.




Enquiries:




Equator
+44 (0)207 235 2555

Philip Rand



Chief Executive Officer








Beaumont Cornish Limited (Nominated Adviser to Equator)
+44 (0)207 628 3396

Roland Cornish








Fox-Davies Capital Limited (Nominated Broker to Equator)
+44 (0)207 936 5234

Richard Hail








Buchanan Communications
+44 (0)207 466 5000

Bobby Morse/Ben Willey












Information on Equator




Equator Exploration Limited engages in the exploration and development of oil and gas projects in highly prospective West Africa. Equator's objective is to build a diversified portfolio of exploration, appraisal and production assets in the region. The Company has exploration interests in the territorial waters of Nigeria and of S Tome Prcipe as well as in the Joint Development Zone between the two countries.







Additional information regarding the Company can be obtained from the Company's website at www.equatorexploration.com.


This information is provided by RNS
The company news service from the London Stock Exchange

END


MSCILFLVAEIEIIT

Thanks for that. Don't own but this used to be 'THE' trading share so it will be good to get it back into action.

Not quite dead yet.......

FOR IMMEDIATE RELEASE 6 July 2009
FOR: EQUATOR EXPLORATION LIMITED
SUBJECT: Shareholder Update

London, 6 July 2009 Equator Exploration Limited (The Company or Equator)
wishes to update shareholders on recent events.

OPL321 and OPL323

The awards of the Production Sharing Contracts (PSCs) for OPL 321 and OPL 323,
in which Equator has a 30 per cent share, have been the subject of a number of
inquiries culminating, in January 2009, with the voiding of the award to the operator,
the Korean National Oil Corporation (KNOC). The voiding of the award is now the
subject of a High Court hearing in Nigeria with KNOC as the plaintiff seeking
restitution of its interests in the blocks. There have been a number of sessions at the
High Court but as yet there has not been any conclusion to the case. An interim
injunction prevents an award of the blocks to the ONGC consortium, which includes
Equator, while the current High Court hearing continues. The next hearing is
scheduled for 8 July 2009.

Despite the uncertainty in the eventual judgement of the hearing, the Company has
confidence that the value of its investment of US$180 million in the two blocks will be
preserved. Whether the blocks are taken over by the ONGC consortium or kept by
KNOC, the farm out of a 20% interest in OPL 323 to BG could still be completed. If
neither of these happens, the Company is entitled to receive a refund of the signature
bonuses. However, the timing of any such outcome remains unpredictable.

JDZ Block 2

On JDZ Block 2, a cost-effective option has become available for the drilling of the
Bomu-1 exploration well in 3Q 2009, enabling the one well obligation of the Phase 1
Exploration Period of the PSC to be fulfilled on time. If the option is taken, significant
funding will immediately be required for the Companys share of the cost of the well.

Financial Position

The Company has debt from loans and unpaid interest, which has grown to more than
US$100 million, drawn down mostly to fund the aborted development of the Bilabri
Field. During the period from January 2008 until May 2009 borrowings increased by
only US$6.3 million as the Company reduced costs and continued to maintain its
interests in the exploration assets by paying cash calls of US$3.4mm.


NEWS RELEASE
The Board has been evaluating ways of ensuring that the Companys assets are not
lost and value is retained for shareholders, lenders and suppliers. The current
absence of availability of funds from the capital markets for exploration companies
with no production, compounded with the Companys de-listing from AIM and the high
debt, has made it impossible to raise funds through traditional routes.

The Company is in the process of finalising a complex financing which will, when
completed, extend the maturity of debt and provide some interim funding to ward off
immediate pressure from creditors. It is intended that the arrangement will also
provide an opportunity for additional funding in the future.

Further details will be announced as soon as possible.

--------------------------------------------------------------------------------
Rodders

London, 9 July 2009 Equator Exploration Limited (The Company or Equator) hereby announces that it has concluded an interim financing with Vicuna Holdings Limited (the Lender), a private investment company, which will help to secure the Company and its assets. As indicated in the News Release on 6 July 2009, Equator has been in a very difficult situation for the past two years. The uncertainties surrounding OPL321 and OPL323 and the burden of debt have made financing for the drilling in JDZ Block 2 and for the acquisition of our option blocks in the Exclusive Economic Zone of S Tome Prcipe extremely difficult. Over the past two years, the Board has worked tirelessly on evaluating ways of ensuring that the Company does not lose all of its assets because of lack of funding and leave the creditors and shareholders with nothing. The capital markets, for pure exploration companies, have remained at rock-bottom during the past year. The loss of the listing on AIM, which was a direct consequence of the uncertainty surrounding the value of the interests in OPL321 and OPL323, combined with the existing high debt has made it impossible to raise funds in the current environment through traditional routes. Procuring immediate funding and securing the ability to continue to pay cash calls on the Companys major assets have been the main drivers for the interim financing. The Board is in agreement that this transaction is in the best interests of all stakeholders. Features of Financing Structure The financing involves the advance of up to US$17.55 million by the Lender, secured on certain of the Groups assets. - The advances are repayable by 31 December 2009 and are convertible at the lenders option in whole or in part into shares at 5 US cents per share; - The lender has the right to appoint two additional directors to the board of the Company;- Advances bear interest at 8 per cent per annum; and- Completion was subject to finalising settlement agreements with certain creditors which has utilized US$12.55 million of the total facility amount. In associated arrangements, other lenders have agreed to the extension of their existing loans totaling US$110 million, including unpaid interest, as follows: - US$88 million plus interest to 31 December 2009 at 8% interest- US$5.6 million plus interest to 30 September 2009 at 18% interest In consideration for these extensions and variation to the interest rates, these loans have become convertible into ordinary shares in the Company also at the price of 5 US cents per share. Drawings and Conversion The Company has to date drawn in total $5.02 million under the new facility; According to the terms of the financing, a total of approximately US$4 million was committed to payments under creditor settlements and payment for overdue cash calls. The lender has exercised its right to convert the advances into shares in the Company at a conversion price of 5 cents per share. The Company will therefore issue 100,450,340 new Common Shares of no par value ranking pari passu with existing shares, representing approximately 34.9% of the enlarged issued share capital. Summary Equator is pleased to have secured these financing arrangements as they: - secure working capital at a time when capital markets are very difficult for pure exploration companies;- avoid being put into liquidation by large creditors;- provide security for the cost of exploration well Bomu-1 on JDZ Block 2 which could spud in July/August 2009;- provide time to maintain the Companys interests in its deep water assets irrespective of whether there is to be a cash refund or a continued allocation in each PSC; and- provide a way to ensure that value is secured for projects that had drained significant value from the Company. Enquiries: Equator +44 (0)207 235 2555Philip Rand CEO/CFO Philip Dimmock COO

well Philip Rand could have walked away so despite the dilution at least we're still alive and can hope to eventually get our money back---or even some rewards!!

EEL is well chosen

Equator Exploration Limited - Announcement of Update on Financing, Share Issue & Board Changes‏

London, 12 August 2009 Equator Exploration Limited (The Company or Equator) hereby provides an update on financing activities, share transactions and changes to the Board of Directors. Financing and Share Activities On 9 July 2009, the Company announced that it had entered into financing arrangements with Vicuna Holdings Limited (Vicuna) to provide up to US$ 17.55 million in loans. In addition to the terms described then, it can additionally be announced that: - The financing facility between Equator and Vicuna was assignable to Oando Plc (Oando), a vertically-integrated oil and gas company listed in Nigeria and South Africa; and - As a condition of the extension to the term of the US$ 65 million secured bridge facility, the lenders have been granted a right, yet to be exercised, to appoint two additional directors to the Board of Equator. Since the execution of the financing agreement with Vicuna, the following has occurred: - The Company has drawn down US$ 2.2 million, in order to pay outstanding cash calls for JDZ Block 2 and to provide working capital.- It has also drawn down US$ 2.82 million which it has paid to major creditors as part of agreed settlements. - Oando has declared that it has purchased 53,444,578 common shares in Equator.- Vicuna has assigned all of its rights and obligations in the financing arrangements to Oando, including the 100,450,369 common shares it gained from conversion of loans made to date into shares. - As a result, there are now 287,941,930 shares in issue, of which 153,894,918, or 53.45%, will be owned by Oando.- Oando has provided a corporate guarantee of US$ 5.4 million as adequate security, required under the joint operating agreement, for Equators share of the costs of the planned JDZ Bomu-1 well in Block 2.- Oando has provided a second corporate guarantee of US$ 2.8 million to secure replacement performance bonds required by the Joint Development Authority for Equators share of the minimum commitment work programme for Block 2. This will release US$ 2.8 million held as collateral for the current performance bonds. Oando is willing to purchase further shares from shareholders who are interested in selling. They are advised to contact Fox-Davies Capital Limited, who are acting for Oando. Changes to the Board of Directors The Company announces the resignation from the Board of Philip Rand and Ted Giletti. Philip Rand has also resigned from the combined position of Chief Executive Officer and Chief Financial Officer. The Board would like to thank Philip and Ted for the contribution that they have made to the Company. Philip Rand has agreed to remain with the Company in an advisory capacity for a period of time. Enquiries: EquatorPhilip Dimmock+44 (0)207 297 42921st Floor50 Curzon StreetLondon W1J 7UW Additional information regarding the Company can be obtained from the Company's website. The Company's website can be accessed at www.equatorexploration.com.