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RNS Number : 7119I
RiverFort Global Opportunities PLC
12 August 2019
 

12 August 2019

RiverFort Global Opportunities plc

("RGO" or the "Company")

Investment update

The Company is pleased to announce that it has agreed to participate in the £5.5 million loan agreement ("Loan") announced by UK  Oil & Gas plc ("UKOG") on 7 August 2019 in connection with its acquisition of Magellan Petroleum (UK) Investment Holdings Limited ("Magellan") for a total consideration of £12 million in cash and shares. Magellan holds a 35% direct interest in the Horse Hill oil field and surrounding highly prospective PEDL137 and PEDL246 licences, UKOG's flagship asset.

The Company's participation in the Loan is expected to be £700,000 and will be via a participation certificate issued by RiverFort Global Opportunities PCC Limited.

UKOG is an AIM-listed independent oil and gas company with a current market capitalisation of around £50 million.  It is focused primarily on oil and gas assets located in the Weald Basin in Southern England. It has a portfolio of direct and indirect investments in eight UK onshore exploration, appraisal, development and production assets.  As at 30 September 2018, the company had net assets of £36.8 million.  Further information on the company is available at ukogplc.com.

 

The Company continues to actively deploy its investment capital and has, in recent weeks made additional investments totalling over £150,000.

Phillip Haydn-Slater, Non-executive Chairman commented:

"We are experiencing a continued strong demand for our investment funds and are confident that attractive investment opportunities will continue to present themselves to us."

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

For more information please contact:

RiverFort Global Opportunities plc

 

+44 20 3984 9191

Phillip Haydn-Slater, Non-executive Chairman

 

 

 

 

 

Nominated Adviser

 

+44 20 7628 3396

Beaumont Cornish

 

 

Roland Cornish/Felicity Geidt

 

 

 

 

 

Joint Broker

 

+44 20 7186 9950

Shard Capital Partners LLP

 

 

Damon Heath/ Erik Woolgar

 

 

 

 

 

Joint Broker

 

+44 20 7562 3351

Peterhouse Capital Limited

 

 

Lucy Williams

 

 


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 www.rns.com.
 
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Quick facts: Riverfort Global Opportunities PLC

Price: 0.075

Market: AIM
Market Cap: £5.09 m
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