Energean Oil & Gas

Energean is an international oil & gas Exploration & Production company focusing on the Eastern Mediterranean, where it holds nine E&P licenses in Israel, Greece, Egypt and Montenegro. Energean Israel, a company in which Energean and Kerogen Capital own hold 50% each, owns 100% of the Karish and Tanin offshore fields in Israel which are world class assets with 2,4 TCF of natural gas independently audited 2C reserves. The company aims to start producing gas from 2020. The gas will be sold to the Israeli market, which was world's faster growing gas market in 2016 (+14,5%) Energean is the only hydrocarbons producer in Greece, operating the areas of Prinos and South Kavala. Since 2007, the company has invested over $ 300 million and carries out a new US$ 200 – million dollar investment in Prinos to produce 37 million mmboe independently audited 2P reserves. Energean has secured a 25-year exploitation license for the West Katakolo offshore proven hydrocarbons field, Western Greece. It has also agreed to farm out the Ioannina and Aitoloakarnania onshore blocks to Repsol, which will obtain a 60% WI and become Operator. Enegrean also holds a license for oil & gas exploration and production in two blocks offshore Montenegro, aiming to conduct 3D seismic survey in 2018. The company has planned to to drill one ore two exploration well in the West Kom Ombo onshore block, Upper Egypt, in 2017. Energean has a very strong shareholder base, consisted of petroleum engineers, executives of the financing sector, ship owners and the US based fund Third Point LLC. Energean employs more than 480 dedicated oil & gas professionals with significant in house expertise in all kind of offshore and onshore operations. It's cash flow is guaranteed by an off-take agreement with BP for the entire Prinos production. Energean operates assets that have been producing hydrocarbons for 36 years in a high H2S environment with an excellent track record, next to traditional tourist destinations and environmentally sensitive areas.