Press release

As the Acquisition constitutes a reverse takeover under the Listing Rules, the admission of the Company's ordinary shares (the "Ordinary Shares") to the premium listing segment of the Official List maintained by the Financial Conduct Authority (the "FCA") and to trading on London Stock Exchange plc's (the "LSE") main market for listed securities (the "Main Market") are required to be cancelled and then readmitted. 

Applications have been made to the FCA and LSE for the Ordinary Shares to be re-admitted to the premium listing segment of the Official List and to trading on the Main Market respectively ("Re-admission"). Re-admission is expected to become effective on 25 October 2021 at 8.00 a.m. 

Amjad Bseisu, CEO of EnQuest, commented:

"We are delighted to have completed the acquisition of a material interest in the high-quality, low-cost Golden Eagle development. As a highly cash generative asset, delivering material incremental production, reserves and resources, Golden Eagle is a great addition to our portfolio, further strengthening the Company.

"We look forward to a productive partnership with the operator, CNOOC and our joint venture partners, NEO Energy and ONE DYAS."

Total voting rights 

Upon readmission to the LSE, the total issued share capital of the Company will be 1,885,924,339 Ordinary Shares and the total number of voting rights of the Company will be 1,885,924,339. This figure may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
 

For more information, please contact:

EnQuest PLC                                          Tel: +44 (0)20 7925 4900
Amjad Bseisu (Chief Executive) 
Jonathan Swinney (Chief Financial Officer)  
Ian Wood (Head of Investor Relations, Communications & Reporting)
Jonathan Edwards (Senior Investor Relations & Communications Manager)

J.P. Morgan Cazenove                            Tel: +44 (0)20 7742 4000
Jamie Riddell
Barry Meyers
Fraser Jamieson

Tulchan Communications                       Tel: +44 (0)20 7353 4200
Martin Robinson
Martin Pengelley
Harry Cameron

IMPORTANT INFORMATION

This announcement has been issued by and is the sole responsibility of the Company.

This announcement is for information purposes only and is not intended and does not constitute or form part of any offer or invitation to purchase or subscribe for, or any solicitation to purchase or subscribe for, any securities of the Company in any jurisdiction. No public offering of securities is being made in any such jurisdiction.

The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended, or under the securities laws or with any securities regulatory authority of any state or other jurisdiction of the United States, and accordingly may not be offered, sold, pledged or transferred, directly or indirectly, in, into or within the United States. There is no intention to register any portion of any offering in the United States or to conduct a public offering of securities in the United States.

The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required by the Company and J.P. Morgan Cazenove to inform themselves about and to observe any such restrictions. Any failure to comply with this restriction may constitute a violation of the securities laws of such jurisdictions.

J.P. Morgan Securities plc (which conducts its UK investment banking activities as J.P. Morgan Cazenove) ("J.P. Morgan Cazenove") is authorised by the Prudential Regulation Authority (the "PRA") and regulated in the United Kingdom by the FCA and the PRA. J.P. Morgan Cazenove is acting exclusively for the Company and no one else in connection with the Acquisition, Re-admission or any other matter referred to in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded its clients nor for providing advice in relation to the Acquisition, Re-admission or any other matter referred to in this announcement.

Save for the responsibilities and liabilities, if any, which may be imposed on J.P. Morgan Cazenove by FSMA or by the regulatory regime established under the Financial Services and Markets Act 2000, as amended, neither J.P. Morgan Cazenove nor any of its affiliates, directors, officers, employees, agents or advisers accepts any duty, liability or responsibility whatsoever (whether direct or indirect) to any person for, or makes any representation or warranty, express or implied, as to the contents of this announcement, including its accuracy, completeness, sufficiency or verification, or for any other statement made or purported to be made by or on its behalf in connection with the Company, the Acquisition or Re-admission and nothing in this announcement will be relied upon as a promise or representation in this respect, whether or not as to the past, present or future. J.P. Morgan Cazenove and each of its affiliates, directors, officers, employees, agents or advisers accordingly disclaim, to the fullest extent permitted by law, all and any duty, liability and responsibility whatsoever, whether direct or indirect, whether arising in tort, contract, under statute or otherwise (save as referred to above) in respect of this announcement or any such statement or otherwise.