23 November 2021
LMS Capital PLC
LEGAL COMPLETION BY DACIAN PETROLEUM OF ITS ACQUISITION OF OIL AND GAS PRODUCING ASSETS IN ROMANIA
On 12 November 2021 LMS Capital PLC ("LMS" or the "Company") announced that the necessary regulatory approvals in Romania had been received to enable Dacian Petroleum ("Dacian"), the Romanian oil and gas production company, to be able to complete its acquisition of an onshore oil and gas production business in Romania.
LMS is now pleased to confirm that completion has occurred and that with effect from 19 November 2021, all production from the acquired assets belongs to Dacian. The company is now working with the vendor to achieve a smooth transfer of operations.
LMS has invested US$9.1m in senior loan notes in Dacian and has also acquired a 32% equity interest in Dacian. Full information on LMS' investment and background on Dacian is included in the 12 November announcement.
ENQUIRIES:
LMS Capital PLC - 0207 935 3555
Robbie Rayne, Chairman
Nick Friedlos, Managing Director
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