La Française de l’Énergie (LFDE) Completes the Acquisition of Gazonor

Regulatory News:

La Française de l’Énergie (LFDE) (Paris:LFDE) is pleased to announce the completion of the acquisition of Trancor Astra Luxembourg (TAL) and its operational subsidiary, Gazonor SAS (Gazonor) for a purchase price of €19.87 million.

This deal represents a major step in the development of LFDE and completes the acquisition process launched on 14^th January 2016.

Following the completion of this transaction, La Française de l’Énergie becomes the largest gas producer in France and reinforces its position as a major producer of local energy replacing imported gas in the former mining basins located in the North-East of France.

Gazonor, a strategic asset for the development of LFDE

Gazonor holds two production licenses and two exclusive exploration permits in the Nord-Pas-de-Calais region where 225 BCF of 2P reserves and 1.87 TCF of 2C contingent resources have already been certified.

Thanks to Gazonor, La Française de l’Énergie becomes the main gas producer in France and generates revenues through its coal mine methane production at the Avion site which is currently sold into the regional gas pipeline network.

Some major and clearly identified prospects for future development

This acquisition will allow LFDE to implement its announced transformation of capturing the coal mine methane present in the former mining galleries and converting it into a clean electricity to be used locally.

This transaction also provides LFDE access to its first international project through two permits held by Gazonor in the Walloon region in Belgium.

About La Française de l’Énergie
Awarded the young innovative status by Bpifrance since June 2013, La Française de l’Énergie is a dynamic SME headquartered in East of France and the first gas producer in France. Specialised in the coal bed methane and coal mine methane production, La Française de l’Énergie produces a local high quality energy from the significant gas resources contained in the former mining basins of North-Eastern France.
With the development of this local and strategic energy, La Française de l’Énergie builds an economically and ecologically competitive project with significant value added for the local communities.

Reuters code: LFDE.PA Bloomberg code: LFDE.FP

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