Information  X 
Enter a valid email address

Advance Energy PLC (ADV)


Friday 04 September, 2020

Advance Energy PLC

32nd Offshore Licensing Round Award

RNS Number : 1118Y
Advance Energy PLC
04 September 2020

4 September 2020

Advance Energy plc

("Advance Energy" or the "Company")


32nd Offshore Licensing Round Award


Advance Energy plc ( AIM:ADV ), the energy company seeking growth through acquisition or farm-in to non-operated interests in discovered upstream projects, is pleased to announce that the Company's wholly owned subsidiary Resolute Oil & Gas (UK) Limited and Holywell Resources Limited ("Holywell"), a company in which Advance Energy has a 25% interest, have each been awarded, subject to documentation, a 50% working interest in block 43/25 and part-blocks 43/29, 43/30, 48/4 and 48/5 in the Oil & Gas Authority's ("OGA") 32nd Offshore Licensing Round.


Block 43/25 and part-blocks 43/29, 43/30, 48/4 and 48/5 contain undrilled gas prospects and are located in the Southern North Sea and the Operator of the blocks is Holywell.  Accordingly, Advance Energy will hold a non-operated indirect 62.5% interest in the blocks. The Company will, whilst waiting for the formal documentation from the OGA confirming the license awards, review the technical information available on the blocks and seek to agree the next steps with Holywell; further updates will be provided as this process progresses.


Leslie Peterkin, CEO of Advance Energy, commented:


"We are pleased to be awarded 62.5% indirect interests in these blocks in the OGA 32nd Licensing Round and we look forward to working with Holywell to assess their potential."





Advance Energy plc

Leslie Peterkin (CEO) / Stephen West (CFO)  +44 (0)1624 681 250


Buchanan (Public Relations)

Ben Romney / Kelsey Traynor  +44 (0)20 7466 5000


Beaumont Cornish Limited (Nominated Adviser)

Roland Cornish / James Biddle    +44 (0) 20 7628 3396


Novum Securities Limited (Joint Broker)

Colin Rowbury          +44 (0)20 7399 9427


Optiva Securities Limited (Joint Broker)

Christian Dennis        +44 (0)20 3411 1881



For further information, please visit   and @advanceplc on Twitter


To register for Advance's email alerts, please complete the following form:


This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR").

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

a d v e r t i s e m e n t