The Options will vest as follows:
- One-third immediately;
- One-third if July 2021 production exits at or above 9,000 boepd; and
- 100 per cent. upon the addition of 5,000 boepd or 25 MMboe 2P reserves.
Following this announcement there is no change to the Company’s issued ordinary shares (700,054,815 ordinary shares of £0.0001 each). Shareholders may use this figure of ordinary shares as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014. 29dk2902l