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2025-10-29 19:25:31
Knox Energy Solutions AS (“Knox”) update to the market regarding ongoing processes.
Corporate transaction and capital raise
Knox reported on July 25, 2025, the transaction involving acquisition of 38% of Inspector for USD 10 mill in cash and USD 10 mill in Knox shares, where the cash payment is to be financed through a Private Placement of USD 12 to 15 mill in Knox.
The Inpector group is producing oil from the Issaran onshore field in Egypt. The Issaran field is a heavy oil field, and the production is currently about 4,000 barrels per day. Inpector plans to ramp production up to around 10,000 barrels per day by 2028. Developments both in Egypts Oil & Gas sector and Inpectors operation has been very positive since Knox and Inpector agreed to combine forces.
The Issaran concession holds approximately 700 million barrels of oil in place, and comparable fields have shown recovery factors of more than 20%.
The planned transaction is ongoing and the company is progressing towards its target.
Potential additional opportunity
During the course of the capital raise we have been introduced to a new opportunity, and the company is currently discussing a potential combined transaction that could result in a significantly larger combined entity than what is contemplated in the Inpector transaction alone.
We will report on further progress, if and when certain agreements have been reached.
For further comments, please contact:
Geir Aune, Chairman, ga@knox-energy.com