United Oil&gas Regulatory News (UOG)

For Immediate Release 10 November 2015

Senterra Energy plc ("Senterra" or "the Company")

Admission to trading on the London Stock Exchange

Senterra Energy plc, a company formed to undertake a single acquisition of a target company or business in the oil and gas sector, is pleased to announce that its entire ordinary share capital will today be admitted to the standard listing segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange's main market ("Admission"). Dealings will commence at 08.00 under the TIDM code "SEN".

Kurt Portmann, Chairman of Senterra, commented:

"We are pleased to have successfully concluded the Admission and firmly believe that current market conditions present compelling opportunities to acquire a cash generative Oil & Gas company with strong upside potential; we look forward to executing the next steps and updating the market as developments unfold".

Highlights:

The Company has been formed to undertake a single Acquisition of a target company or business in the oil and gas sector.

The particular focus will be on companies or assets with both existing production and sufficient development potential to make a significant increase in production, and although all geographic regions will be considered, given the current political and economic situations in the Far East and Russia, the Board consider that it is less likely that these two regions will be able to provide viable opportunities for investment.

In assessing the potential Acquisition, the Board will pay particular attention to the following overriding factors:

· the existence of production providing cash flow for the business;

· strong exploration potential in known oil and gas producing areas

· the quality of the management

· an established track record of developing oil and gas assets.

There is no specific expected target value for an Acquisition, although it is likely that the Company will be targeting an Acquisition in the range of £1 million to £5 million within a 12 month timescale from Admission. The Company's intention is to acquire control of a business which would then constitute a Reverse Takeover under the Listing Rules. 

The Board comprises Kurt Portmann, Jeremy King and Alberto Cattaruzza who collectively have a proven track record of fundrasing for listed entities, and extensive experience and contacts within the oil and gas sectors. All director biographies are listed below.

Defined terms in this announcement which are not defined herein shall have the same meanings as in the Prospectus.

For more information:

Christian Dennis

Dowgate Capital Stockbrokers Limited (Joint Broker)

Jason Robertson and Neil Badger +44 (0) 1293 517 744

Director Biographies

Kurt Portmann - Chairman

Since 1987, Kurt Portmann has been president of Portmann Finances SA, a private equity firm and as of 2005, president of EQ'Y SA, a wealth manager, which are both based in Sarnen, Switzerland. In 1995 Kurt founded Optiva Securities Ltd ("Optiva") a broker regulated by the Financial Conduct Authority and a member of the London Stock Exchange. Kurt is currently Chairman of Optiva.

Kurt has over 50 years of experience in international financial markets, institutional stockbroking and fund management. He was instrumental in forming Canadian oil and gas company Epsilon Energy ("Epsilon") in 2005, and was a director until July 2013. Epsilon listed on the TSX in 2007 raising C$78 million. He was also a non-executive director at Rockerfeller Hughes Inc, a Canadian company, now TSX Venture Exchange-traded and active in the oil shale exploration in Texas, United States of America.

Jeremy King - Director

Jeremy is a senior corporate finance executive with over 14 years experience.He has a wealth of experience advising clients on IPOs, fundraising, takeovers, mergers and acquisitions and continuing obligations.

Jeremy is currently a director of, and head of corporate finance for, Optiva Securities Limited.Previously he was a Director of English Trust Company Ltd, a corporate finance house, where he originated and led the IPO of Private Equity Investor plc on the Full List of the LSE, raising £100m from investors.

Prior to this he was at Kleinwort Benson Investment Management Ltd, where he became Head of UK Smaller Companies, managing unit trusts, investment trusts and pension funds investing in UK smaller companies. Jeremy is also a Director of Upland Resources listed on the London Stock Exchange.

Alberto Cattaruzza - Director

Mr Cattaruzza graduated as a Chemical Engineer from the University of Padua, and having worked in Germany for LURGI, he returned to Italy in 1966 and joined Chevron Oil Italiana as Planning Analyst, moving then to Assistant Manager Planning, Supply & Refining Manager, Marketing Operations Manager and Commercial Sales Manager. During this period, he was appointed Board Member of the two Italian refining companies of which Chevron was shareholder. 

When Chevron left Europe in the 1980's, Mr. Cattaruzza became General Manager of an Italian private refining and marketing company, and was appointed Board Member of a number of companies belonging to the same Group, including the ISAB refinery in Sicily where the majority partners were ENI and ERG

In 1995, Mr. Cattaruzza joined the Oilinvest Group, operating in Europe under the brand name Tamoil, as Managing Director of their German affiliate with HQ in Hamburg. He was later appointed Oilinvest Refining & Marketing Officer and Board Member of several other Group companies, in Hungary, in the Czech Republic and in Italy. In 2001, Mr. Cattaruzza started an independent entity providing technical and business consultancy services in the oil sector. His clients include a large number of oil companies In Europe and the Middle East, as well as international consulting companies such as Accenture and The Boston Consulting Group.