Longboat Energy PLC Kveikje Presentation & Investor Webcast
April 05 2022 - 10:42AM
RNS Non-Regulatory
TIDMLBE
Longboat Energy PLC
05 April 2022
5 April 2022
Longboat Energy plc
("Longboat Energy", "Longboat" or the "Company")
Kveikje Presentation & Investor Webcast
Longboat Energy, the emerging full-cycle North Sea E&P
company, is pleased to announce that it will be presenting the
significant discovery at the Kveikje exploration well (35/10-8S) in
licence PL293B via the Investor Meet Company platform.
The presentation will be made at 10.00 BST on Thursday 7 April
2022 and is open to all existing and potential shareholders. Anyone
wishing to attend the online presentation should register for the
event in advance via this link:
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
09.00 BST on Thursday 7 April 2022 or at any time during the live
presentation. Shareholders can participate in a Q&A session
following the presentation. The Company will also provide an online
recording, available on the Investor Meet Company platform after
the meeting.
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
Ntobeko Chidavaenzi Tel: +44 20 3727 1000
Rosie Corbett longboatenergy@fticonsulting.com
Background
Longboat Energy was established by the ex-Faroe Petroleum plc
("Faroe") management team at the end of 2019 to create a full-cycle
North Sea E&P company through value accretive M&A and
low-risk, near-field exploration. In June 2021 the Company entered
into three bi-lateral transactions to acquire interests in a
portfolio of seven exploration wells which have resulted in three
discoveries (Egyptian Vulture, Rødhette and Kveikje) out of five
wells drilled to date.
Longboat's remaining two exploration wells, excluding appraisal
drilling on the existing discoveries, are both high-impact,
gas-weighted prospects drilling during 2022. Longboat has targeted
exploration prospects located in close proximity to existing
infrastructure, with an overlap between exploration partners and
infrastructure owners, providing 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.
To finance the drilling programme, the Company raised gross
proceeds of GBP35 million in 2021 by means of a share placing and a
NOK 600 million (GBP52 million) Exploration Finance Facility (EFF)
with SpareBank 1 SR-Bank ASA and ING Bank N.V.
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END
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