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30 June 2016
Kuwait Energy plc
Update on Intention to Float on the London Stock Exchange
Kuwait Energy, an independent oil and gas company actively engaged in the exploration, appraisal, development and production of hydrocarbons across the Middle East and North Africa region, announces that the Company has not been able to complete its initial public offering as announced in its Intention To Float of 3 May 2017. However, in light of positive feedback from potential investors, the Company remains committed to obtaining a London listing and continues to explore its options.
Dr. Manssour Aboukhamseen, Executive Chairman of Kuwait Energy, said:
"We are disappointed not to be announcing our listing on the London Stock Exchange at this time. However, the company remains in excellent shape. We are funded for our current growth strategy and the immediate future remains very exciting for the Company.
We will be increasing production rapidly, particularly at our Block 9 asset in Iraq. We will also be developing our 2P working interest reserves which are in excess of 800 mmboe."
Enquiries:
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Kuwait Energy Dr Manssour Aboukhamseen (Executive Chairman) Sara Akbar (CEO) |
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Numis James Taylor John Prior Ben Stoop |
+44 20 7260 1000 |
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BofA Merrill Lynch Ashwin Punde Tom Milner Daniel Norman
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+44 20 7628 1000 |
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EFG Hermes |
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Mohammed Fahmi |
+971 50 658 7059 |
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Mostafa Gad |
+2 0100 145 0330 |
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Karim Meleka |
+971 56 130 0092 |
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Mohamed Aly |
+2 0100 160 4744 |
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Bell Pottinger Nick Lambert Lorna Cobbett Henry Lerwill
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+44 20 3772 2500 |
This information is provided by RNS
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