Issuance of Royal Decree for Block 3 & 4

Kistos Holdings

07/09/2026 07:00

RNS Number : 6452T
  
Kistos Holdings PLC
  
07 September 2026
  
 


THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU, WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (UK MAR). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
 
7 September 2026
 

 
 
Kistos Holdings plc
 
("Kistos" or "the Company")
 
 
Issuance of Royal Decree for Block 3 & 4
 
 
Kistos (LON: KIST), an independent energy company focused on unlocking value within its existing portfolio and through value-accretive M&A, announces that it has now received confirmation of the grant of Royal Decree from the Sultanate of Oman in connection with the acquisition of Blocks 3 & 4 onshore Oman, from Mitsui E&P Middle East B.V. ("Mitsui"). The effect of the grant of the Royal Decree is that legal ownership of Blocks 3 & 4 has now passed to Kistos. Formal completion of the sale and purchase agreement with Mitsui will follow shortly (which finalises completion adjustments and certain accounting formalities for the interim period since execution of the original agreement), legal title having now passed.
 
The completion of the acquisition of Block 9 continues to progress, working on a different timeline due to its EPSA framework.
 
As announced, Kistos is acquiring Blocks 3, 4 and 9 for a consideration of $148 million, with an effective date of 1 January 2025. The acquisition adds 25.6 mmboe of 2P reserves and increases 2025 production by about 9,000-10,000 boepd, comprising mostly liquids. It is anticipated to be immediately cash-generative and the transaction represents an acquisition value of approximately $5.80 per boe.
 
Andrew Austin, Executive Chairman of Kistos, commented:
 
"Royal Decree on Blocks 3 & 4 marks Kistos' official entry into the MENA region, with the overall transaction with Mitsui in Oman doubling the Company's current production and 2P reserves, providing geographical diversification to our portfolio and a platform for further growth."
 
 
ENDS
 
 
Dr Richard Benmore, Non-Executive Director of Kistos, with a Bachelor's, Master's and PhD in Geosciences and who has been involved in the energy industry for more than 40 years, has read and approved the disclosure in this announcement.
 
The Company's internal estimates of resources contained in this announcement were prepared in accordance with the Petroleum Resource Management System guidelines endorsed by the Society of Petroleum Engineers, World Petroleum Congress, American Association of Petroleum Geologists and Society of Petroleum Evaluation Engineers.
 
 
Glossary




2P reserves


the sum of proved and probable reserves, denotes the best estimate scenario of reserves




mmboe


Million barrels of oil equivalent




boepd


barrels of oil equivalent per day




 
 
 
Contacts
 




Kistos Holdings plc
Andrew Austin / Peter Mann
 


via Hawthorn Advisors




Panmure Liberum (NOMAD, Joint Broker)
Amrit Mahbubani / Inaya Rafique / Mark Murphy / Sam Elder
 


Tel: 0207 886 2500




Berenberg (Joint Broker)
Matthew Armitt / Ciaran Walsh
 


Tel: 0203 207 7800




Hawthorn Advisors (Public Relations Advisor)
Henry Lerwill / Simon Woods
  


Tel: 0203 745 4960




Camarco (Public Relations Advisor)
Billy Clegg


Tel: 0203 757 4983




 
https://www.kistosplc.com
 




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