Longboat Energy PLC Farm-In Presentation & Investor Webcast
May 10 2022 - 3:41AM
RNS Non-Regulatory
TIDMLBE
Longboat Energy PLC
10 May 2022
10 May 2022
Longboat Energy plc
("Longboat Energy", "Longboat" or the "Company")
Farm-In Presentation & Investor Webcast
Longboat Energy, the emerging full-cycle North Sea E&P
company, is pleased to announce that it will be holding a
presentation to shareholders via the Investor Meet Company platform
following the announcement of a farm-in to the Oswig (PL1100,
PL1100B) and Velocette (PL1016) gas prospects.
The presentation will be made at 10.00 BST on Wednesday 11 May
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
. A short corporate presentation will be made available on the
Company website on Wednesday morning ahead of the investor
meeting.
Shareholders registered to attend are invited to pre-submit
questions online via the Investor Meet Company dashboard up until
09.00 BST on Wednesday 11 May 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 with four high impact, gas-weighted prospects
to follow.
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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