11 April 2024
Longboat Energy
plc
("Longboat Energy", "Longboat" or the "Company")
Investor
Presentation
Longboat Energy, the emerging
full-cycle E&P company, is pleased to announce that Helge
Hammer, CEO, Jon Cooper, CFO, Hilde Sathe, Managing Director -
Longboat JAPEX, and James Menzies, Executive Charman SE
Asia will provide a live presentation via Investor Meet
Company on 11 Apr 2024, 15:00 BST.
Investors can sign up to Investor
Meet Company and add to meet LONGBOAT ENERGY PLC via:
https://www.investormeetcompany.com/longboat-energy-plc/register-investor
Investors who already follow
LONGBOAT ENERGY PLC on the Investor Meet Company platform will
automatically be invited.
The information contained within
this announcement is not considered to be inside information prior
to its release.
ENDS
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Enquiries:
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Longboat Energy
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Helge Hammer, Chief Executive
Officer
Jon Cooper, Chief Financial
Officer
Nick Ingrassia, Corporate
Development Director
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via
FTI
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FTI
Consulting (PR adviser)
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Ben Brewerton
Rosie Corbett
Catrin Trudgill
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Tel: +44
20 3727 1000
longboatenergy@fticonsulting.com
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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 technical 67% 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. Under these arrangements, JAPEX will make an initial
investment of up to US$20 million, of which US$16 million was paid
on completion, for a 49.9% shareholding in of Longboat JAPEX Norge
AS and provide the Joint Venture with a US$100 million Acquisition
Financing Facility to finance acquisitions and associated
development costs. Longboat retains 50.1% ownership
in Longboat JAPEX Norge AS.
Also in July 2023, Longboat
JAPEX Norge AS announced its first production acquisition in Norway
of interests in the Statfjord satellite fields, Statfjord Øst and
Sygna.
Longboat entered Malaysia in
February 2023 through the award of a Production Sharing Contract
for Block 2A, offshore Sarawak. Block 2A covers approx.
12,000km2 and is located in water depths of between 100-1,400
metres where a number of large prospects across multiple plays have
been identified, with significant volume potential representing
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.