Longboat Energy PLC Strategy/Company/Ops Update

RNS Number : 2279C

Longboat Energy PLC

30 August 2024

 

THIS ANNOUNCEMENT DOES NOT CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014 AS AMENDED AND TRANSPOSED INTO UK LAW IN ACCORDANCE WITH THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

 

30 August 2024

 

Longboat Energy plc

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

 

Longboat Energy, an E&P company focused on Southeast Asia, will release its interim financial results for the period to 30 June 2024 on Thursday, 19 September 2024.

 

Following the release of its interim results, Nick Ingrassia (CEO) and James Menzies (Executive Chairman) will host a live presentation for investors via Investor Meet Company on 19 September 2024 at 11:00 AM BST.

 

Investors can sign up to the presentation via: https://www.investormeetcompany.com/longboat-energy-plc/register-investor. Investors who follow Longboat on the Investor Meet Company platform will automatically be invited.

Longboat's near-term focus remains on its transformational Malaysian activities:

·    The farm-out of Block 2A is well underway and the Company remains confident of executing a transaction during Q4 2024; and

·    Negotiations on a production sharing contract, located in shallow water offshore Sarawak, Malaysia, containing a portfolio of material, undeveloped gas fields are nearing completion. The negotiations have involved multiple parties, including Federal and State entities, and are anticipated to be announced in the coming weeks.

In order to reflect the recent change in strategic focus, the board has decided to rename and rebrand the Company as Seascape Energy Asia plc and change its ticker symbol on the London Stock Exchange to 'SEA'. The changes will be effected in the coming weeks and a further announcement will be made in due course.

 

Nick Ingrassia, CEO of Longboat, commented:

 

"The change in name to Seascape Energy Asia plc represents the transformation of Longboat into a Southeast Asian-focused E&P company. We are excited about our growing portfolio which we expect to deliver several value inflection points in the near-term. We look forward to working with all of our stakeholders to create value as we seek to grow the business under our new brand."

Ends

Enquiries: Longboat Energy via FTI Nick Ingrassia (Chief Executive) Stifel (Nomad and Joint Broker) Tel: [phone] Callum Stewart Jason Grossman Ashton Clanfield [e-mail]     Cavendish Capital Markets Limited (Joint Broker) Tel: [phone] Neil McDonald Pete Lynch Leif Powis

 

 

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