EXTENSION OF TIME TO DESPATCH TARGETS STATEMENTAdelphi Energy...

EXTENSION OF TIME TO DESPATCH TARGETS STATEMENT

Adelphi Energy Limited (Adelphi) refers to the on-market takeover offer from ARC Energy Limited, a wholly owned subsidiary of AWE Limited (AWE)(the Offer).

Adelphi wishes to advise that it has received a declaration from the Australian Securities and Investments Commission (ASIC) modifying Item 13 of Section 635(1) of the Corporations Act.

The practical effect of this ASIC declaration is to grant Adelphi an extension of time to despatch its Targets Statement (including an independent experts report) to 4 June 2010.

Your directors continue to recommend that you take no action in relation to the Offer until you have considered the Targets Statement.

The Targets Statement will be released to the ASX on 31 May 2010 and sent to shareholders on or before 4 June 2010.



adi seem to have a bit more time up their sleeve to reply to the bidders statement

recommending to take no action until the reply