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LBE Longboat Energy Plc

16.50
-0.25 (-1.49%)
Last Updated: 09:26:05
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Longboat Energy Plc LSE:LBE London Ordinary Share GB00BKFW2482 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.25 -1.49% 16.50 16.00 17.00 16.75 16.50 16.75 244,668 09:26:05
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Offices-holdng Companies,nec 0 -15.47M -0.2730 -0.60 9.35M

Longboat Energy PLC Extract from EAGE Presentation

31/01/2024 7:00am

RNS Non-Regulatory


RNS Number : 4352B
Longboat Energy PLC
31 January 2024
 

31 January 2024 

 

Longboat Energy plc

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

Extract from EAGE presentation

 

Longboat Energy, an emerging full-cycle E&P company active in Norway and Malaysia, is pleased to announce that it is making a presentation on the SK2A PSC offshore Sarawak (Company 52.5%) at the EAGE conference in Kuala Lumpur on 30-31 January. An extract of the presentation has been posted on the Company's website. 


Ends

 

The information contained within this announcement is not considered to be inside information prior to its release.

 

 

Enquiries:


Longboat Energy

via FTI

Helge Hammer, Chief Executive Officer


Jon Cooper, Chief Financial Officer

Nick Ingrassia, Corporate Development Director




Stifel (Nomad and Joint Broker)

Tel: +44 20 7710 7600

Callum Stewart

Jason Grossman

Ashton Clanfield




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

Neil McDonald                              

Pete Lynch         

Leif Powis          

 

FTI Consulting (PR adviser)

Tel: +44 20 3727 1000

Ben Brewerton

Rosie Corbett

Catrin Trudgill

longboatenergy@fticonsulting.com

 

 

 

 

Company Background

 

Longboat Energy was established at the end of 2019 to create a full-cycle E&P company through value accretive M&A and near-field exploration. Longboat's initial focus has been in Norway where the Company has drilled nine exploration wells resulting in six hydrocarbon discoveries, representing a 66% technical success rate.

 

In July 2023, Longboat completed a transaction with Japan Petroleum Exploration Co., Ltd ("JAPEX") to form a new joint venture company in Norway named Longboat JAPEX Norge AS in return for a cash investment of US$20 million and a US$100 million Acquisition Financing Facility. Longboat retains 50.1% ownership in Longboat JAPEX Norge AS.

 

Longboat JAPEX Norge AS holds interests in six discoveries on the Norwegian Continental Shelf and has a 4.80% interest in Statfjord Øst and 4.32% unitised interest in Sygna producing fields.

 

Longboat entered Malaysia in February 2023 through the award of a Production Sharing Contract for Block 2A, offshore Sarawak where it holds a 52.5% operated interest. Block 2A covers approx. 12,000km2 and is located in water depths of between 100-1,400 metres and contains the giant 'Kertang' prospect which has volume potential of multiple trillions of cubic feet of gas.

 

Longboat's activities remain focused on creating 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.


 

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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END
 
 
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