Israeli Supreme Court dismisses petition

RNS Number : 6435T

Energean Oil & Gas PLC

05 July 2018

 

For immediate release

Energean Oil & Gas plc

("Energean" or the "Company")

Israeli Supreme Court dismisses petition against the Karish-Tanin Development

London, 5 July 2018 - Energean Oil and Gas plc (LSE: ENOG), the independent oil and gas exploration and production company focused on the Eastern Mediterranean, announces that on 3 July 2018 the Israeli Supreme Court, sitting as the High Court of Justice, unanimously dismissed the petition filed on 14 September 2017 by two environmental groups against Energean and the Petroleum Commissioner, the Ministry of Energy, the Ministry of Environmental Protection and the Ministry of Finance, in connection with the Karish-Tanin Development.

These proceedings constituted the sole outstanding court proceedings against Energean in Israel.

Energean is planning to deliver gas to the Israeli market from the Karish-Tanin Development in 2021, and is on track with its project milestones to achieve this timeline.

Enquiries

Energean	Tel: [phone]
Kate Sloan, Head of IR
Camarco (Financial PR)	Tel: [phone]
Billy Clegg Georgia Edmonds Owen Roberts

About Energean Oil & Gas

Energean is a London Premium-Listed independent E&P company focused on the Eastern Mediterranean region, where it operates in offshore Israel, Greece and the Adriatic and holds 13 licences. The Group has 2P reserves of 51 Mmboe plus 2C resources of 45.9 Mmbbls oil and 1.7 Tcf of gas.

In August 2017 the Company received Israeli Governmental approval for the FDP for its flagship Karish-Tanin gas development project, where it intends to use an FPSO and produce first gas for the Israeli market in 2021. In Greece, the Company is pursuing an ongoing investment and development programme to increase production from its Prinos and Prinos North oil fields and to develop the Epsilon oil field, located in the Gulf of Kavala, Northern Greece.

Energean has five exploration licences offshore Israel, and a 25 year exploitation licence for the Katakolo offshore block in Western Greece and additional exploration potential in its other licences offshore Western Greece, and Montenegro.

www.energean.com

 

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