t
| Date | 16 Feb 2022 |
| Time | 07:00:09 |
| Category | Director/PDMR dealings |
| ID | 7949B |
Kistos plc
("Kistos" or the "Company")
PDMR Dealing
Kistos (LSE: KIST), the low carbon intensity energy producer pursuing a strategy to acquire assets with a role in energy transition, announces that it has been notified that Andrew Austin, the Executive Chairman, has purchased 150,000 ordinary shares of 10p each in the market at a price of £3.27 per share for the account of his self-invested personal pension scheme on 15 February 2022.
The acquisition increase Mr Austin's beneficial interests in the capital of the Company from 17.07% to 17.25%.
The notification set out below is provided in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.
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1. |
Details of PDMR / person closely associated |
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a) |
Name |
Andrew Austin |
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2. |
Reason for the notification |
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a) |
Position / status |
Executive Chairman |
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b) |
Initial notification /amendment |
Initial notification |
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3. |
Details of the issuer |
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a) |
Name |
Kistos plc |
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b) |
LEI |
2138007DT1E5GTTVON57 |
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4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
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a) |
Description of the financial instrument |
Ordinary Shares of 10 pence each |
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b) |
Identification code of the Financial Instrument |
ISIN for Kistos plc: GB00BLF7NX68 |
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c) |
Nature of the transaction |
Market Purchase |
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d) |
Price(s) and volume(s) |
Price: £3.2665 per share Volume: 150,000
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f) |
Date of the transaction |
15 February 2022 |
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g) |
Place of the transaction |
XLON |
Enquiries:
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Notes to editors
Kistos plc was established to acquire and manage companies in the energy sector engaging in the energy transition trend. The Company has acquired Tulip Oil Netherlands B.V., which has a portfolio of assets, including profitable, highly cash generative natural gas production, plus appraisal and exploration opportunities. The Company has 19.5 MMboe of 2P reserves and an additional 102.1 MMboe of contingent resources. On 31st January 2022, Kistos announced that it had conditionally agreed to acquire a 20% interest in the Greater Laggan Area from TotalEnergies. On completion, this transaction is expected to increase Group production to ~12,000 boe/d and add 2P reserves of 6 MMboe.
Kistos is a low carbon producer. The Q10-A gas field in the Dutch North Sea (60% operated working interest) has recorded a Scope 1 carbon emissions intensity of 13g CO2e/boe since inception. This compares to an industry average of 22kg CO2/boe for gas extracted from the UK continental shelf. The Q10-A normally unmanned installation is located approximately 20 km from the Dutch shore. It is powered sustainably via wind and solar power and is remotely operated, limiting offshore visits, which are conducted by boat.