London Stock Exchange welcomes Energean Oil & Gas plc to the Main Market

London Stock Exchange today welcomes Energean Oil & Gas plc, a leading independent E&P company focused on the Eastern Mediterranean region, to trading on the Main Market. Energean shares will be admitted to trading on the Premium Listing segment of the Official List of the FCA, at 8am on Wednesday 21 March 2018.

The proceeds of this primary raise will be used alongside the recently secured project financing to deliver production from Energean’s flagship development Karish project offshore Israel, bringing competitive gas to the burgeoning Israeli market.

Energean operates a wider portfolio of significant production, development and exploration assets in the Eastern Mediterranean region. The Company has a substantial development programme to materially increase production in the near-term from the Prinos Basin, offshore northeast Greece. The Company believes it also has a significant upside potential through its exploration licences offshore Israel, onshore Western Greece and in the East Adriatic.

Energean Oil & Gas CEO, Mathios Rigas, commented: “We are delighted to be here to celebrate Energean’s entry to the London Stock Exchange and a Premium Listing on the main market – representing the largest oil and gas IPO in London in nearly four years and symbolising a new era in the Company’s development. We are very pleased with the response we have had from the investment community and welcome our new shareholders. Our listing will offer investors access to production, development and exploration assets in the increasingly prolific Eastern Mediterranean region.”

Citigroup and Morgan Stanley are each acting as Joint Global Co-ordinator, Joint Bookrunner and Joint Sponsor, with Stifel Nicolaus Europe Limited acting as Joint Global Co-ordinator and Joint Bookrunner. RBC Capital Markets are also acting as Joint Bookrunner. Co-lead Managers are Nataxis, Poalim IBI and Société Générale Corporate & Investment Banking. The Company’s Legal Adviser is White & Case. Rothschild are the Company’s Financial Adviser and Instinctif Partners are Financial Communications Advisers to Energean.

Dr Robert Barnes, Global Head of Primary Markets, London Stock Exchange said:

“Raising £330m this successful IPO by Energean Oil & Gas becomes the largest IPO on the London market so far this year. Building on our positive track record for Exploration & Production companies, it shows London remains open for business to companies from Europe and the Mediterranean, attracting high quality long term institutional investors.”