Curzon Energy PLC New Project MOU Executed (9646H)
21 November 2018 - 6:00PM
UK Regulatory
TIDMCZN
RNS Number : 9646H
Curzon Energy PLC
21 November 2018
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
21 November 2018
New Project MOU Executed
Curzon Energy Plc
("Curzon" or the "Company")
Curzon Energy plc (LON:CZN) the London Stock Exchange listed oil
and gas development company, pursuing a targeted acquisition
strategy of oil and gas appraisal and development assets, announces
that it has entered into a Memorandum of Understanding with Pared
Energy, LLC ("Pared"), a privately owned US oil and gas company
specializing in Texas-based natural gas projects.
Highlights:
-- Curzon is working with Pared to evaluate an opportunity that
offers participation in the potential development of a major
onshore natural gas project
-- The project is centred in the South Texas region and offers multi-TCF potential
-- Pared and Curzon will seek to jointly finance and develop the project
-- Potential terms and joint investment structure are currently under negotiation
-- The gas project being evaluated fits with Curzon's stated
strategy of broadening its asset base by acquisition and
complements Curzon's Coos Bay project
About Pared Energy:
Pared was formed to develop low-cost, scalable conventional oil
and gas assets by coupling advanced evaluation techniques with
modern drilling and completion methods to more fully exploit
existing proven reservoirs.
Scott Kaintz, Chief Executive Officer comments:
"We are pleased to be working with Pared to evaluate an
opportunity that offers participation in the development of a
natural gas project in the South Texas region of the United States.
Pared's skills in identifying overlooked and often neglected
reservoirs where modern horizontal drilling and multi-stage
completion methods have yet to be deployed, offers the chance to
jointly build an exciting new gas project with the potential for
scale and delivering attractive investor returns.
"The gas development project we are evaluating alongside Pared
would complement our existing Coos Bay CBM assets with both
near-term production and multi-TCF gas resource upside.
"We look forward to updating the markets with more information
as appropriate."
For further information please contact:
Curzon Energy Plc +44 (0) 20 7747 9980
Scott Kaintz
www.curzonenergy.com
SP Angel Corporate Finance LLP +44 (0) 20 3470 0470
Richard Hail
Richard Redmayne
Optiva Securities Limited +44 (0) 20 3137 1902
Christian Dennis
Additional Notes:
Curzon Energy is listed on the LSE Main Market under the ticker
"LON:CZN".
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
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contact rns@lseg.com or visit www.rns.com.
END
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