TIDMRGO

RNS Number : 7119I

RiverFort Global Opportunities PLC

12 August 2019

12 August 2019

RiverFort Global Opportunities plc

("RGO" or the "Company")

Investment update

The Company is pleased to announce that it has agreed to participate in the GBP5.5 million loan agreement ("Loan") announced by UK Oil & Gas plc ("UKOG") on 7 August 2019 in connection with its acquisition of Magellan Petroleum (UK) Investment Holdings Limited ("Magellan") for a total consideration of GBP12 million in cash and shares. Magellan holds a 35% direct interest in the Horse Hill oil field and surrounding highly prospective PEDL137 and PEDL246 licences, UKOG's flagship asset.

The Company's participation in the Loan is expected to be GBP700,000 and will be via a participation certificate issued by RiverFort Global Opportunities PCC Limited.

UKOG is an AIM-listed independent oil and gas company with a current market capitalisation of around GBP50 million. It is focused primarily on oil and gas assets located in the Weald Basin in Southern England. It has a portfolio of direct and indirect investments in eight UK onshore exploration, appraisal, development and production assets. As at 30 September 2018, the company had net assets of GBP36.8 million. Further information on the company is available at ukogplc.com.

The Company continues to actively deploy its investment capital and has, in recent weeks made additional investments totalling over GBP150,000.

Phillip Haydn-Slater, Non-executive Chairman commented:

"We are experiencing a continued strong demand for our investment funds and are confident that attractive investment opportunities will continue to present themselves to us."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For more information please contact:

 
 RiverFort Global Opportunities 
  plc                               +44 20 3984 9191 
 Phillip Haydn-Slater, 
  Non-executive Chairman 
                                   ----------------- 
 
 Nominated Adviser                  +44 20 7628 3396 
                                   ----------------- 
 Beaumont Cornish 
                                   ----------------- 
 Roland Cornish/Felicity 
  Geidt 
                                   ----------------- 
 
 Joint Broker                       +44 20 7186 9950 
                                   ----------------- 
 Shard Capital Partners 
  LLP 
                                   ----------------- 
 Damon Heath/ Erik Woolgar 
                                   ----------------- 
 
 Joint Broker                       +44 20 7562 3351 
                                   ----------------- 
 Peterhouse Capital Limited 
                                   ----------------- 
 Lucy Williams 
                                   -----------------

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 Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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August 12, 2019 05:08 ET (09:08 GMT)

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