Tulip Oil publishes competent person's report

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

15 April 2021

Kistos plc

("Kistos" or the "Company")

Tulip Oil Netherlands Offshore B.V. publishes competent person's report on its material hydrocarbon assets

Kistos (LON: KIST), the AIM quoted closed-ended investment company, notes, further to the Company's announcement on 12 March 2021 in relation to the proposed acquisition of the entire issued and outstanding share capital of Tulip Oil Netherlands B.V. ("TON") from Tulip Oil Holding B.V. (the "Acquisition"), that TON's wholly-owned subsidiary, Tulip Oil Netherlands Offshore B.V. ("TONO") has this morning published a competent person's report produced by Sproule B.V. ("Sproule") on its material hydrocarbon assets (the "TONO CPR").

The TONO CPR can be downloaded using the below link:

https://newsweb.oslobors.no/obsvc/attachment.obsvc?messageId=530295&attachmentId=215065&obsvc.item=1

The Company further notes that during the course of next week it intends to publish, as part of an admission document in relation to the Acquisition, a separate competent person's report, also produced by Sproule, specifically in relation to the assets it has conditionally agreed to acquire from Tulip Oil Holding B.V.

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