Longboat Energy Regulatory News (LBE)

19 April 2023

Longboat Energy plc

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

Appointment of Joint Broker

Longboat Energy, the emerging full-cycle E&P company, is pleased to announce that it has appointed Cenkos Securities plc as Joint Broker with immediate effect.

Stifel Nicolaus Europe Limited remains Nominated Adviser and Joint Broker to the Company.

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

Ends

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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. Since June 2021, Longboat has entered a series of four transactions to acquire interests in a portfolio of nine, gas-weighted exploration wells drilling on the Norwegian Continental Shelf close to existing infrastructure. To date, eight of these wells have been drilled resulting in five hydrocarbon discoveries (Egyptian Vulture, Mugnetind, Rødhette, Kveikje and Oswig), representing a technical 63% success rate.

In February 2023, Longboat entered Malaysia 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.