RCS - Longboat Energy PLC - Investor Presentation

Longboat EnergyAnnouncement

26/09/2023 08:00

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RNS Number : 5888N  Longboat Energy PLC  26 September 2023

26 September 2023

Longboat Energy plc

("Longboat Energy", "Longboat" or the "Company")

Investor Presentation

Longboat Energy, the emerging full-cycle E&P company, is pleased to
announce that it will be presenting an updated corporate presentation to
shareholders via the Investor Meet Company platform.

 

The online presentation will be made at 10:00 BST Wednesday 27 September 2023
and is open to all existing and potential shareholders. If you wish to attend
the online presentation you should register for the event in advance via this
link:

 

https://www.investormeetcompany.com/longboat-energy-plc/register-investor
(https://www.investormeetcompany.com/longboat-energy-plc/register-investor)

 

Shareholders registered to attend are invited to pre-submit questions online
via the Investor Meet Company dashboard up until 9.00am BST on Wednesday 27
September 2023 or at any time during the live presentation. A recording will
be made available on the Investor Meet Company platform after the
presentation.

 

The information contained within this announcement is not considered to be
inside information prior to its release.

ENDS

 Enquiries:
 Longboat Energy
 Helge Hammer, Chief Executive Officer            via FTI

 Jon Cooper, Chief Financial Officer

 Nick Ingrassia, Corporate Development Director

 FTI Consulting (PR adviser)
 Ben Brewerton                                    Tel: +44 20 3727 1000

 Rosie Corbett                                    longboatenergy@fticonsulting.com (mailto:longboatenergy@fticonsulting.com)

 Catrin Trudgill

Background

Longboat Energy was established at the end of 2019 to create a full-cycle
E&P company through value accretive M&A and near-field exploration.
Longboat's initial focus has been in Norway where the Company has drilled nine
exploration wells resulting in six hydrocarbon discoveries, representing a
technical 67% success rate.

 

In July 2023, Longboat completed a transaction with Japan Petroleum
Exploration Co., Ltd ("JAPEX") to form a new joint venture company in Norway
named Longboat JAPEX Norge AS. Under these arrangements, JAPEX will make an
initial investment of up to US$20 million, of which US$16 million was paid on
completion, for a 49.9% shareholding in of Longboat JAPEX Norge AS and provide
the Joint Venture with a US$100 million Acquisition Financing Facility to
finance acquisitions and associated development costs. Longboat retains 50.1%
ownership in Longboat JAPEX Norge AS.

Also in July 2023, Longboat JAPEX Norge AS announced its first production
acquisition in Norway of interests in the Statfjord satellite fields,
Statfjord Øst and Sygna.

Longboat entered Malaysia in February 2023 through the award of a Production
Sharing Contract for Block 2A, offshore Sarawak. Block 2A covers approx.
12,000km(2) and is located in water depths of between 100-1,400 metres where a
number of large prospects across multiple plays have been identified, with
significant volume potential representing multiple trillions of cubic feet of
gas.

Longboat's activities remain focused on creating a portfolio with a clear
low-cost route to monetisation and low-carbon drilling and development
opportunities, well aligned to Longboat's ESG targets which includes a
corporate 'Net Zero' on a Scope 1 and 2 basis by 2050.

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