Release of Escrow Documents

22 April 2021

Advance Energy plc

("Advance Energy" or the "Company")

Release of Escrow Documents

Advance Energy (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, further to its announcement of 19 April 2021, the Escrow Agent has now released the Escrow Documents in respect of the completion of the Group's subscription for a 50 per cent. equity interest in Carnarvon Petroleum Timor Unipessoal Lda ("Carnarvon Petroleum Timor") following the transfer of the subscription amount of US$20 million payable under the Buffalo Subscription Agreement to the bank account of Carnarvon Petroleum Timor.

The Company's Admission Document and further information on the Company can be found on Advance Energy's website at: www.advanceplc.com  

Capitalised terms used in this announcement (unless otherwise defined) carry the same meanings as those ascribed to them in the Company's Admission Document dated 31 March 2021 and/or the Company's announcement of 31 March 2021, unless the context requires otherwise.

Enquiries:

For further information, please visit www.advanceplc.com and @advanceplc on Twitter

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