RE-ADMISSION OF SHARES

RNS Number : 1854J

Energean PLC

18 December 2020

 

Energean plc

("Energean" or the "Company")

RE-ADMISSION OF SHARES

London, 18 December 2020 - Energean plc (LSE: ENOG, TASE: א) announces that, further to the announcement on 17 December 2020 regarding the completion of the acquisition of Edison Exploration & Production S.p.A., its entire issued share capital of 177,089,406 ordinary shares has today been re-admitted to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange plc.

Energean maintains its Secondary Listing on the Tel Aviv Stock Exchange and its shares remain fully transferrable and fungible between the two markets.

Enquiries

Energean
Investors and analysts
Kate Sloan, Head of IR & ECM			Tel: [phone]
Media
Sotiris Chiotakis, Corporate communications and media relations		Tel: [phone]
Morgan Stanley (Sole Sponsor, Financial Adviser and Joint Corporate Broker)     Tel: [phone]
Andrew Foster Michael O'Dwyer Mutlu Guner

About Energean plc

Established in 2007, Energean is a London Premium Listed FTSE 250 and Tel Aviv 35 Listed E&P company with operations in nine countries across the Mediterranean and UK North Sea. Since IPO, Energean has grown to become the leading independent, gas-focused E&P company in the Eastern Mediterranean, with a strong production and development growth profile. The Company explores and invests in new ideas, concepts and solutions to produce and develop energy efficiently, at low cost and with a low carbon footprint.

Energean's production comes mainly from the Abu Qir field in Egypt, and fields in Southern Europe and the UK. The company's   flagship project is the 3.5 Tcf Karish, Karish North and Tanin development offshore Israel, where it intends to use the only FPSO in the Eastern Mediterranean to produce first gas, commencing 4Q-2021. Energean has signed firm contracts for 7.4 Bcm/yr of gas sales into the Israeli domestic market, which have floor pricing, take-or-pay and/or exclusivity provisions that largely insulate the project's revenues against global commodity price fluctuations and underpin Energean's goal of paying a meaningful and sustainable dividend.

With a strong track record of growing reserves and resources, Energean is focused on maximising production from our large-scale gas-focused portfolio to deliver material   free cash flow and maximise total shareholder return in a sustainable way. ESG and health and safety are paramount to Energean; it aims to run safe and reliable operations, whilst targeting carbon neutrality across its operations by 2050. These aspirations have been significantly advanced with the completion of the Edison E&P acquisition in December 2020.

 

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