Transfer of remaining Titan Assets
Diversified Gas & Oil PLC, (AIM: DGOC) the Appalachian focussed gas and oil producer, announced on 16 June 2017 the proposed acquisition of certain gas and oil assets from Titan Energy LLC (the “Titan Assets”) for a total consideration of $84.2m (the “Acquisition”). The Acquisition was approved by shareholders and completed on 30 June 2017. As announced previously, certain of the Titan Assets were held within a public partnership structure to be transferred to the Company following completion of the Acquisition.
DGO is pleased to announce that the remaining Titan Assets have now transferred to the Company and the final $11.4m consideration has been paid to Titan Energy, LLC.
DGO’s gross production is now circa 18,300 boepd (11,000 boepd net), making it one of the largest producers on AIM.
This announcement is inside information for the purposes of Article 7 of EU Regulation 596/2014.
Diversified Gas & Oil PLC
Rusty Hutson Jr., Chief Executive Officer
Brad Gray, Finance Director/Chief Operating Officer
Eric Williams, Chief Financial Officer/Investor Relations
+1 205 408 0909
Smith & Williamson Corporate Finance Limited
(Nominated Adviser & Joint Broker)
Russell Cook, Katy Birkin
+44 (0)20 7131 4000
Mirabaud Securities Limited
Peter Krens, Edward Haig-Thomas
+44 (0)20 3167 7221
+44 (0)20 7466 5000
(Financial Public Relations)
Ben Romney, Chris Judd, Henry Wilson