Strategy/Company/Ops Update

Seascape Energy Asia

30/08/2024 07:00

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RNS Number : 2279C  Longboat Energy PLC  30 August 2024

THIS ANNOUNCEMENT DOES NOT CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF
ARTICLE 7 OF REGULATION 596/2014 AS AMENDED AND TRANSPOSED INTO UK LAW IN
ACCORDANCE WITH THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

 

30 August 2024

 

Longboat Energy plc

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

 

Longboat Energy, an E&P company focused on Southeast Asia, will release
its interim financial results for the period to 30 June 2024 on Thursday, 19
September 2024.

 

Following the release of its interim results, Nick Ingrassia (CEO) and James
Menzies (Executive Chairman) will host a live presentation for investors via
Investor Meet Company on 19 September 2024 at 11:00 AM BST.

 

Investors can sign up to the presentation via:
https://www.investormeetcompany.com/longboat-energy-plc/register-investor
(https://www.investormeetcompany.com/longboat-energy-plc/register-investor) .
Investors who follow Longboat on the Investor Meet Company platform will
automatically be invited.

Longboat's near-term focus remains on its transformational Malaysian
activities:

·    The farm-out of Block 2A is well underway and the Company remains
confident of executing a transaction during Q4 2024; and

·    Negotiations on a production sharing contract, located in shallow
water offshore Sarawak, Malaysia, containing a portfolio of material,
undeveloped gas fields are nearing completion. The negotiations have involved
multiple parties, including Federal and State entities, and are anticipated to
be announced in the coming weeks.

In order to reflect the recent change in strategic focus, the board has
decided to rename and rebrand the Company as Seascape Energy Asia plc and
change its ticker symbol on the London Stock Exchange to 'SEA'. The changes
will be effected in the coming weeks and a further announcement will be made
in due course.

 

Nick Ingrassia, CEO of Longboat, commented:

 

"The change in name to Seascape Energy Asia plc represents the transformation
of Longboat into a Southeast Asian-focused E&P company. We are excited
about our growing portfolio which we expect to deliver several value
inflection points in the near-term. We look forward to working with all of our
stakeholders to create value as we seek to grow the business under our new
brand."

Ends

 Enquiries:
 Longboat Energy                                   via FTI
 Nick Ingrassia (Chief Executive)

 Stifel (Nomad and Joint Broker)                   Tel: +44 20 7710 7600
 Callum Stewart                                    SNELLongboatEnergy@Stifel.com

 Jason Grossman

 Ashton Clanfield

 Cavendish Capital Markets Limited (Joint Broker)  Tel: +44 20 7397 8900
 Neil McDonald

 Pete Lynch

 Leif Powis

 

 

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