Longboat Energy PLC Investor Presentation

TIDMLBE

Longboat Energy PLC

21 June 2022

Longboat Energy plc

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

Investor Presentation

Lon gboat Energy, the emerging full-cycle North Sea E&P company, is pleased to announce that, following the Annual General Meeting on Thursday 23 June 2022, it intends to present an updated corporate presentation via the Investor Meet Company platform.

The online presentation will take place at 11.30am 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

Shareholders registered to attend are invited to pre-submit questions online via the Investor Meet Company dashboard up until 9.00am BST on Thursday 23 June 2022 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.

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 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 six wells drilled to date.

Longboat's future exploration wells, after having farmed in to two additional gas wells, are high-impact, gas-weighted prospects drilling during 2022 and 2023. 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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