Satisfaction of Performance Allocation Payment

RNS Number : 5681N

Riverstone Energy Limited

27 October 2016

 

Riverstone Energy Limited

27 October 2016

Rock Oil - Satisfaction of Performance Allocation Payment

London, UK (27 October 2016) - Riverstone Energy Limited (REL or the Company), announces that following the completion of the sale of its interest in Rock Oil, and in accordance with the performance fee arrangements with the Riverstone Holdings LLC group (Riverstone), Riverstone Energy Limited Capital Partners LP (RELCP), an entity controlled by David Leuschen and Pierre Lapeyre (each of whom are directors of REL and founders of Riverstone), intends to acquire approximately £6.5 million of the Company's shares through secondary market purchases (Share Purchase Programme) at prices below the prevailing published net asset value of the Company over a period of up to 6 months.  RELCP has entered into an agreement with J.P. Morgan Securities plc (JPMS plc) under which it has issued an irrevocable instruction to JPMS plc to manage the Share Purchase Programme. 

The Company confirms that it currently has no inside information relating to the Company which has not been publicly disclosed. 

Media Contacts:

Riverstone Energy Limited:

Alfredo Marti

Brian Potskowski

[phone]

About Riverstone Energy Limited

REL is a closed-ended investment company that invests exclusively in the global energy industry, with a particular focus on the exploration & production and midstream sectors. REL aims to capitalise on the opportunities presented by Riverstone's energy investment platform.  REL is a member of the FTSE 250 and its ordinary shares are listed on the London Stock Exchange, trading under the symbol RSE.  To date, REL has made 17 investments spanning conventional and unconventional oil and gas activities in the Gulf of Mexico, Continental U.S., Western Canada, the U.K. North Sea, the Norwegian Sea, Mexico and credit.

For further details, see www.RiverstoneREL.com 

Neither the contents of Riverstone Energy Limited's website nor the contents of any website accessible from hyperlinks on the websites (or any other website) is incorporated into, or forms part of, this announcement.

 

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