Cabot Energy PLC Italian Acquisition Update (8570F)

TIDMCAB

RNS Number : 8570F

Cabot Energy PLC

26 February 2018

Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement, this information is now considered to be in the public domain.

Cabot Energy Plc

("Cabot Energy", the "Group" or the "Company")

Italian acquisition update

Cabot Energy (AIM:CAB), the AIM quoted oil and gas company focused on production led growth balanced with high impact exploration and appraisal opportunities, notes the operational update from Rockhopper which includes the following information regarding the Civita pipeline.

"At the Civita gas field (Rockhopper 100% working interest), production during 2017 averaged approximately 130 boepd. However, in early February, a depressurisation event occurred at the Civita pipeline and as a result production is temporarily suspended. Work has commenced to remedy the issue and resume production. Rockhopper and Cabot Energy continue to work towards the completion of the previously announced transaction to divest certain non-core onshore assets in Italy, including Civita, to Cabot Energy."

A further announcement regarding Civita will be made in due course.

For further information please contact:

 
                                      +44 (0)20 
Cabot Energy Plc                       7469 2900 
Keith Bush, Chief Executive Officer 
Nick Morgan, Finance Director 
 
                                      +44 (0)20 
SP Angel Corporate Finance LLP         3470 0470 
Nominated Adviser and Joint Broker 
Richard Morrison, Richard Redmayne, 
 Charlie Bouverat 
 
                                      +44 (0)20 
GMP FirstEnergy LLP                    7448 0200 
Joint Broker 
Jonathan Wright, David van Erp 
 
                                      +44 (0)20 
FTI Consulting                         3727 1000 
Financial PR 
Edward Westropp 
 

Note to Editors:

Cabot Energy is an oil and gas company focused on production led growth. The Company is undertaking a redevelopment and production project in north west Alberta and has a broader portfolio of exploration and appraisal opportunities in countries of relatively low political risk, primarily Italy. Comprehensive information on Cabot Energy and its oil and gas operations, including press releases, annual reports and interim reports are available from Cabot Energy's website: www.cabot-energy.com

This information is provided by RNS

The company news service from the London Stock Exchange

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February 26, 2018 02:05 ET (07:05 GMT)