THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Riverstone Energy Limited Exits ILX III, strengthening liquidity and accelerating transition to low carbon energy portfolio
The transaction with Ridgewood is all cash and closed upon signing but is subject to certain post-closing purchase price adjustments. Estimated total net proceeds from the sale are
ILX III is a
We believe that our focus on originating and executing investments that support the portfolio's focus on decarbonisation and low-carbon power generation themes will provide REL shareholders with access to a unique set of opportunities that generate strong financial returns while having a positive impact on climate change.
The Board and Investment Manager are committed to maximising value from REL's oil and gas assets to support returns to shareholders and continued investment in low carbon energy assets. With a stronger balance sheet, subject to market conditions, capital needs for the current portfolio and the new investment opportunities, the Board will continue the Board authorised buyback program on the open market when shares are trading below intrinsic value and may also consider tender offers and dividends in the future."
REL is a closed-ended investment company that invests exclusively in the global energy industry across all sectors. REL aims to capitalise on the opportunities presented by Riverstone's energy investment platform. REL's ordinary shares are listed on the
For further details, see www.RiverstoneREL.com
Riverstone is an energy and power‐focused private investment firm founded in 2000 by
For further details, see www.RiverstoneLLC.com
Neither the contents of
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 REL will continue to own 43,333 shares of Talos Energy Inc stock (NYSE:TALO) in connection with its former investment in ILX III
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