Presentation

Established in 2020, Kistos is a close-ended E&P investment company listed on the London Stock Exchange’s AIM market. Kistos focuses on creating value through M&A activities in the energy sector. A key strategy for this newly founded company is to acquire assets that contribute to the global energy transition.

In March 2021, Kistos announced an agreement to acquire Tulip Oil Netherlands (TON) for USD ~270M. The acquisition was financed with 86m of equity and EUR 150m of bonds issued in Tulip Oil Netherlands Offshore B.V. (TONO), which will be the only interest-bearing debt in the company. TON currently has 6,600 boe/day of natural gas production (opex of USD 4/boe) expected to grow to 14,000 boepd in 2023 as Q11-B achieves first gas. As the production facilities are powered by wind and solar power, Tulip Oil Netherlands has an industry leading carbon footprint with close to zero CO2 emissions.