ENOG Energean Plc

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RNS Number : 8393T

Energean PLC

29 March 2021

Energean plc

("Energean" or the "Company")

Block Listing Application

London, 29 March 2021 - Energean plc (LSE: ENOG, TASE: ) is pleased to announce that an application has been made to the UK Listing Authority and the London Stock Exchange for a block listing of 80,000 ordinary shares of 1 pence each to be admitted to the Official List and to trading on the London Stock Exchange.

The block listing relates to ordinary shares which will be allotted from time to time in accordance with the exercise of options under the Energean 2019 Deferred Bonus Plan. The shares will rank pari passu with the existing issued shares of the Company and it is anticipated that the block listing will be admitted on or around Tuesday 30 March 2021.

Enquiries

 
 Investors and Analysts 
 Kate Sloan, Head of IR, ECM & Communications   Tel: +44 (0)7917 608 
                                                 645 
 

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 in 2018, 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 minimal carbon footprint.

Energean's production comes mainly from the Abu Qir field in Egypt, as well as 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 newbuild fully-owned FPSO Energean Power, which will be the only FPSO in the Eastern Mediterranean, to produce first gas, commencing December 2021 / 1Q 2022. 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 its 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 were significantly advanced with the completion of the Edison E&P acquisition in December 2020, which is now being successfully integrated into Energean's business. The Company further enhanced its Israeli position in 2021 through the acquisition of Kerogen Capital's 30% holding in Energean Israel for a total consideration of $380-405 million.

www.energean.com

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