First Sentinel PLC - Investment of Capital
RNS Number : 6094U
First Sentinel PLC
25 October 2017
 

25 October 2017

 

First Sentinel Plc

("First Sentinel" or the "Company")

 

Investment of capital

 

First Sentinel Plc ("First Sentinel" or the "Company") (NEX: FSEN), the investment company focused on providing growth capital for public and private company investments, announces that the following investment has been made by First Sentinel:

 

Curzon Energy plc (LSE: CZN)

 

Curzon Energy plc ("Curzon") is an oil and gas company focused on shareholder value creation through strategic and targeted global oil and gas acquisitions. Currently, the Company has one asset in Coos Bay, Oregon where Curzon is 100% owner and operator of a known and tested coalbed methane gas accumulations on c. 45k acres. Curzon will seek to identify and acquire assets, which are deemed attractive by its board.

The Coos Bay asset has historical positive test data; 86 to 419 BCF of contingent resources and up to 1,000 BCF of CBM gas in-place. The previous operator has spent C. $37m to date and has drilled 5 wells and laid 4 miles of pipeline running from these 5 wells, ready to be connected and within 15 metres of the regional pipeline. The 5 wells tested gas up to 100 Mscf/day each in an area selected for initial development due to proximity to a regional gas pipeline.

The shares of Curzon were admitted to trading on the 's Main Market on 4 October 2017.  First Sentinel subscribed for 6,250,000 ordinary shares at the placing price on IPO of 10p per share (a subscription for approximately £625,000).

 

About First Sentinel

First Sentinel is an alternative investment company, registered with the FCA as a small authorised UK AIFM, which provides growth capital for public and private company investments.  First Sentinel invests in a range of debt and equity instruments in target portfolio companies.

The Company's website is www.first-sentinel.com

For further corporate information, please contact:

Mr. Kris Kottmeier

VP Corporate Development

UK/Euro Tel: +44 (0) 20 3637 6522

North America Tel: +1 (604) 506-2502

Email:  Kris@first-sentinel.com

Mr. Brian Stockbridge

CEO

First Sentinel Plc

Tel: + 44 (0) 7876 888 011

 

NEX Corporate Advisor

Beaumont Cornish Limited

James Biddle / Roland Cornish

Tel: +44(0)20 7628 3396

 

Financial PR Advisor

Felicity Winkles / Joe Burgess

Tel: +44(0) 776 932 5254

 


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