RCS - Longboat Energy PLC - Investor Presentation

Longboat EnergyAnnouncement

11/04/2024 09:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240411:nRSK2633Ka&default-theme=true

RNS Number : 2633K  Longboat Energy PLC  11 April 2024

11 April 2024

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 Helge Hammer, CEO, Jon Cooper, CFO, Hilde Sathe, Managing
Director - Longboat JAPEX, and James Menzies, Executive Charman SE Asia will
provide a live presentation via Investor Meet Company on 11 Apr 2024, 15:00
BST.

 

Investors can sign up to Investor Meet Company and add to meet LONGBOAT ENERGY
PLC via:

 

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

 

Investors who already follow LONGBOAT ENERGY PLC on the Investor Meet Company
platform will automatically be invited.

 

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

 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.

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAIBMRTMTABMBI