LMS Capital PLC (“LMS”) is pleased to announce that all necessary regulatory approvals in Romania have now been received by Dacian Petroleum (“Dacian”), the Romanian oil and gas production company in which LMS has committed to invest, and the company should now be able to complete its purchase of an onshore oil and gas production business in Romania.

SUMMARY

• LMS Capital PLC (“LMS”) announced in Q3 2020, its commitment to invest in Dacian Petroleum (“Dacian”), subject to Dacian receiving required approvals in Romania to proceed with the acquisition of a business operating onshore oil and gas fields in Romania
• Whilst it has taken longer than originally expected, Dacian has now received all required approvals from the Romanian Government, and the acquisition is expected to close during November and Dacian will commence operating the business.