Transfer of remaining Titan Assets

RNS Number : 3117S

Diversified Gas & Oil PLC

02 October 2017

 

For immediate release

2 October 2017

Diversified Gas & Oil PLC

("DGO" or the "Company")

Transfer of remaining Titan Assets

Diversified Gas & Oil PLC, (AIM: DGOC) the Appalachian focussed gas and oil producer, announced on 16 June 2017 the proposed acquisition of certain gas and oil assets from Titan Energy LLC (the "Titan Assets") for a total consideration of $84.2m (the "Acquisition").  The Acquisition was approved by shareholders and completed on 30 June 2017.  As announced previously, certain of the Titan Assets were held within a public partnership structure to be transferred to the Company following completion of the Acquisition.

DGO is pleased to announce that the remaining Titan Assets have now transferred to the Company and the final $11.4m consideration has been paid to Titan Energy, LLC.

DGO's gross production is now circa 18,300 boepd (11,000 boepd net), making it one of the largest producers on AIM.

This announcement is inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquiries:

Diversified Gas & Oil PLC Rusty Hutson Jr., Chief Executive Officer Brad Gray, Finance Director/Chief Operating Officer Eric Williams, Chief Financial Officer/Investor Relations www.diversifiedgasandoil.com	[phone]
Smith & Williamson Corporate Finance Limited (Nominated Adviser & Joint Broker) Russell Cook, Katy Birkin	[phone]
Mirabaud Securities Limited (Lead Broker) Peter Krens, Edward Haig-Thomas	[phone]
Buchanan (Financial Public Relations) Ben Romney, Chris Judd, Henry Wilson [e-mail]	[phone]

 

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