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Longboat Energy PLC - exploration and production company focused on the North Sea - Completes farm-in agreement with OMV Norge AS which was originally announced on May 9. Through the agreement, Longboat farmed-in two gas weighted exploration projects on the Norwegian Continental Shelf. The first well, 20% owned Oswig, is expected to spud in July and the second, 20% owned Velocette, is expected to be drilled in the second quarter of 2023.
Separate to this farm-in, Longboat expects to commence drilling at an additional exploration well, Copernicus, before the end of the quarter.
Current stock price: 38.50 pence
12-month change: down 45%
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