Tuesday 12 July 2022

Waldorf Production Limited (“Waldorf” or the “Company”) is pleased to announce that it has entered into a binding Sale and Purchase Agreement with a wholly owned subsidiary of Shorelight Partners (“Shorelight”) for the acquisition of Alpha Petroleum Resources Limited (“Alpha Petroleum”).

Alpha Petroleum’s assets include a 100% working interest in the Cheviot field and an operated interest in three late life/redevelopment fields in the Southern Gas Basin. Cheviot is one of the largest undeveloped fields in the UK North Sea, with estimated contingent resources of 50 MMbbls oil and 120 bcf gas.

There are no implications for the Nordic Bond issued by Waldorf Production UK PLC on 1 October 2021.

Erik Brodahl, Chief Executive Officer of Waldorf Production said:

“We are delighted to be partnering with the Alpha team and look forward to welcoming our new colleagues to Waldorf. Cheviot provides a valuable development opportunity to supplement our existing production portfolio and will increase our contribution to the UK’s much-needed energy security.”