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Kuwait Energy PLC  -     

Update on Intention to Float

Released 18:24 30-Jun-2017

RNS Number : 8247J
Kuwait Energy PLC
30 June 2017
 

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:

 

 Kuwait Energy

Dr Manssour Aboukhamseen (Executive Chairman)

Sara Akbar (CEO) 

 

Numis

James Taylor

John Prior

Ben Stoop 

+44 20 7260 1000

 

BofA Merrill Lynch

Ashwin Punde

Tom Milner

Daniel Norman

 

+44 20 7628 1000

EFG Hermes

 

Mohammed Fahmi

+971 50 658 7059

Mostafa Gad

+2 0100 145 0330

Karim Meleka

+971 56 130 0092

Mohamed Aly 

+2 0100 160 4744

 

Bell Pottinger

Nick Lambert

Lorna Cobbett

Henry Lerwill

 

 

+44 20 3772 2500

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Update on Intention to Float - RNS