NEO Energy announces it has signed an agreement to acquire Gran Tierra North Sea Limited (“GTNSL”), a 100% owned subsidiary of Gran Tierra Energy Inc.

GTNSL holds a 100% equity interest in UKCS licence P2358 which includes the Serenity discovery, a potential future tie-back to the Bleo Holm FPSO. This creates potential growth and development opportunities as part of the recently announced strategic merger of NEO Energy with Repsol Resources UK Limited. Completion of the merger remains subject to approvals from the relevant authorities and regulatory consents.

Completion of the GTNSL transaction is subject to certain conditions precedent, including consent from the NSTA in respect of the change of control of GTNSL. The transaction is expected to complete in Q3 2025.

About NEO

NEO Energy is a leading independent operator in the UKCS, with a high-quality asset base and a strong commitment to revitalising the region’s oil and gas sector. NEO focuses on delivering operational efficiency, safe operations, and creating long-term value through its diversified portfolio, including stakes in significant producing fields such as Penguins, Culzean, Gannet, Shearwater, Britannia Area, and Elgin Franklin. NEO is a private upstream company wholly owned by NEO Energy Holdings Limited (an investment vehicle managed by HitecVision, a leading investor in the European energy industry).