31 December 2015
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Riverstone Energy Limited
On 9 December 2015, Riverstone Energy Limited (the "Company" or "REL") announced the results of a Placing and Open Offer, which raised £67.6 million. REL raised capital to increase its stake in Canadian International Oil Corp. ("CIOC"), an existing portfolio company, by up to US$68 million, pursuant to a tender offer for outstanding common shares and warrants of CIOC, the first close of which was on 29 December 2015.
The affiliate of REL which made the tender offer had received, as at 29 December 2015, tenders of approximately US$92.1 million of common shares and warrants of CIOC. Accordingly, REL is pleased to announce that it will increase its stake in CIOC by the maximum allowable amount of US$68 million on completion of the tender offer in January 2016.
For Riverstone Energy Limited:
About Riverstone Energy Limited:
REL is a closed-ended investment company that invests exclusively in the global energy industry, with a particular focus on the exploration & production and midstream sectors. REL aims to capitalise on the opportunities presented by Riverstone's energy investment platform. REL is a member of the FTSE 250 and its ordinary shares are listed on the London Stock Exchange, trading under the symbol RSE. To date, REL has made 16 investments spanning conventional and unconventional oil and gas activities in the Gulf of Mexico, Continental U.S., Western Canada, the U.K. North Sea, the Norwegian Sea, Mexico and credit.
For further details, see www.RiverstoneREL.com
Neither the contents of Riverstone Energy Limited's website nor the contents of any website accessible from hyperlinks on the websites (or any other website) is incorporated into, or forms part of, this announcement.