Full year results update
EnQuest PLC, 25 March 2020
Financial Conduct Authority ('FCA') and Financial Reporting Council ('FRC') moratorium on publication of results
On 21 March 2020, the FCA issued a strong request to all London listed companies to observe a moratorium on the publication of financial statements for a minimum of two weeks, due to the unprecedented global outbreak of coronavirus ('COVID-19'). On 23 March 2020, the FRC issued an announcement requesting companies and their auditors delay other corporate reports, such as final audited financial statements.
In accordance with the these requests, EnQuest PLC will postpone publishing its 2019 Annual Results, for the twelve months ended 31 December 2019. The Company will announce the date for the publication of its 2019 results in due course.
For more information on the FCA and FRC requests, please visit: https://www.fca.org.uk/news/statements/fca-requests-delay-forthcoming-announcement-preliminary-financial-accounts or https://www.frc.org.uk/news/march-2020-(1)/frc-supports-moratorium-in-corporate-reporting.
For further information, please contact:
|EnQuest PLC||Tel: +44 (0)20 7925 4900|
|Amjad Bseisu (Chief Executive)|
|Jonathan Swinney (Chief Financial Officer)|
|Ian Wood (Head of Communications & Investor Relations)|
|Jonathan Edwards (Senior Investor Relations & Communications Manager)|
|Tulchan Communications||Tel: +44 (0)20 7353 4200|
Notes to editors
EnQuest is an independent production and development company with operations in the UK North Sea and Malaysia. The Group's strategic vision is to be the operator of choice for maturing and underdeveloped hydrocarbon assets, by focusing on operational excellence, differential capability, value enhancement and financial discipline.
EnQuest PLC trades on both the London Stock Exchange and the NASDAQ OMX Stockholm. Its UK operated assets include Thistle/Deveron, Heather/Broom, the Dons area, Magnus, the Greater Kittiwake Area, Scolty/Crathes Alma/Galia and Kraken; EnQuest also has an interest in the non-operated Alba producing oil field. At the end of December 2019, EnQuest had interests in 17 UK production licences and was the operator of 15 of these licences. EnQuest's interests in Malaysia include the PM8/Seligi and PM409 Production Sharing Contracts, both of which the Group operates.
Forward-looking statements: This announcement may contain certain forward-looking statements with respect to EnQuest's expectations and plans, strategy, management's objectives, future performance, production, reserves, costs, revenues and other trend information. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that may occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. The statements have been made with reference to forecast price changes, economic conditions and the current regulatory environment. Nothing in this announcement should be construed as a profit forecast. Past share price performance cannot be relied upon as a guide to future performance.
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