Highlights
-The gross consideration* for the transaction, as at the locked box date of 1 January 2019, is $284 million and the final net consideration (net of cash acquired) is $203 million.
-The deal diversifies Energean into 9 countries of operation and provides a range of organic growth opportunities
- Following completion of the deal and the acquisition of Kerogen's stake in Energean Israel, the group's 2P reserves and 2C resources reach 1,069 mmboe, 74% of which is gas
-The enlarged group has a clear path to get us to production of 200,000 boepd once Karish is on stream and cements our position as the largest independent E&P listed in London