REG - Longboat Energy PLC - Notice of AGM

Longboat EnergyAnnouncement

26/05/2023 11:00

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RNS Number : 8288A  Longboat Energy PLC  26 May 2023

 

 

 

 
Longboat Energy
plc

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

 

Annual General Meeting and Investor Presentation

 

London, 26 May 2023 - Longboat Energy, the emerging full-cycle E&P
company, announces the posting to shareholders of the Notice of Annual General
Meeting, to be held on Thursday 22 June 2023 which is also available on the
Company's website at www.longboatenergy.com (http://www.longboatenergy.com)
.

 

Following the Annual General Meeting the Company intends to present an updated
corporate presentation via the Investor Meet Company platform. The online
presentation will take place at 11.30am on 22 June 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 Thursday 22
June 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.

 

 

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

 Stifel (Nomad)                         Tel: +44 20 7710 7600
 Callum Stewart

 Jason Grossman

 Ashton Clanfield

 FTI Consulting (PR adviser)            Tel: +44 20 3727 1000
 Ben Brewerton                          longboatenergy@fticonsulting.com (mailto:longboatenergy@fticonsulting.com)

 Rosie Corbett

 

Cenkos Securities plc (Joint Broker)
 
         Tel: +44 20 7397 8900

Neil McDonald

Pete Lynch

Leif Powis

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.
Since June 2021, Longboat has entered a series of four transactions to acquire
interests in a portfolio of nine, gas-weighted exploration wells drilling on
the Norwegian Continental Shelf close to existing infrastructure. To date,
eight of these wells have been drilled resulting in five hydrocarbon
discoveries, representing a technical 63% success rate.

 

In February 2023, Longboat entered Malaysia 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.

 

In May 2023, the Company announced that agreement had been reached with Japan
Petroleum Exploration Co., Ltd ("JAPEX") to make a significant investment into
its Norwegian subsidiary, Longboat Energy Norge AS ("Longboat Norge"), to form
a joint venture.  Under this agreement, JAPEX will make a cash investment of
up to US$50 million for 49.9% of Longboat Norge and provide the Joint Venture
with a US$100 million Acquisition Financing Facility to finance acquisitions
and associated development costs.

 

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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