REG - Energean PLC - Update on Angola Transaction

EnergeanAnnouncement

Today 07:00

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RNS Number : 7365G  Energean PLC  03 June 2026

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

For immediate release

 

Energean plc

("Energean" or the "Company")

 

Update on the proposed acquisition of interests in Block 14 and Block 14K,
offshore Angola

 

London, 3 June 2026 - Energean plc (LSE: ENOG, TASE: אנאג) provides an
update on the proposed acquisition from Chevron of a 31% operated interest in
Block 14 and a 15.5% non-operated interest in Block 14K, offshore Angola,
announced on 12 March 2026 (the "Transaction"). The Company has been informed
by the seller, Chevron, that it has received notice from one of the joint
venture partners, Etu Energias, purporting to exercise its pre-emption rights
in relation to the Transaction.

The sale and purchase agreement entered into between Energean and Chevron
remains in effect until: (i) the relevant pre-emption right is determined to
have been validly exercised and executed; and (ii) a new sale and purchase
agreement between Chevron and Etu Energias has been executed and completed.

The Company notes that any assignment to Etu Energias must be made on the same
or equivalent terms as the sale and purchase agreement between Energean and
Chevron. This includes the condition precedent requiring the buyer to deliver
evidence to the seller that it is a proven deepwater oil and gas operator of
at least one existing deepwater producing asset in water depths greater than
300 metres, both within 15 days after signing and as at the unconditional
date.

The Company will provide further updates as and when appropriate.

Enquiries

 For capital markets:
 Kyrah McKenzie, Investor Relations Manager                      Tel: +44 7921 210 862
 ir@energean.com (mailto:ir@energean.com)
 For media:
 Adonis Seferlis, CEO Office Communications Manager              Tel: +30 697 2414262
 aseferlis@energean.com (mailto:aseferlis@energean.com)
 Ben Brewerton, FTI Consulting                                   Tel: +44 2037 271 065
 energean@fticonsulting.com (mailto:energean@fticonsulting.com)

Forward looking statements

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forward-looking statements. In some instances, forward-looking statements can
be identified by the use of terms such as "projects", "forecasts", "on track",
"anticipates", "expects", "believes", "intends", "may", "will", or "should"
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terminology. Forward-looking statements are subject to a number of known and
unknown risks and uncertainties that may cause actual results and events to
differ materially from those expressed in or implied by such forward-looking
statements, including, but not limited to: general economic and business
conditions; demand for the Company's products and services; competitive
factors in the industries in which the Company operates; exchange rate
fluctuations; legislative, fiscal and regulatory developments; political
risks; terrorism, acts of war and pandemics; changes in law and legal
interpretations; and the impact of technological change. Forward-looking
statements speak only as of the date of such statements and, except as
required by applicable law, the Company undertakes no obligation to update or
revise publicly any forward looking statements, whether as a result of new
information, future events or otherwise. The information contained in this
announcement is subject to change without notice.

Inside Information

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European Union (Withdrawal) Act 2018 as amended by virtue of the Market Abuse
(Amendment) (EU Exit) Regulations 2019). Upon the publication of this
announcement via a regulatory information service, this inside information is
now considered to be in the public domain.

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