KNOX UPDATE REGARDING THE INPECTOR TRANSACTION
2026-06-26 13:29:06
In preparation for the transaction between Knox Energy Solutions AS (“Knox”) and Inpector Capital B.V. (“Inpector”) announced on 6 April 2026, Inpector is in its final stage of completing the reorganisation of the company.
The final approval of the selected structure for the reorganisation will clear the path to call for the Knox shareholders meeting and closing of the transaction.
Inpector and Knox have agreed to extend the long stop date for the transaction to August 31, 2026. The objective is to close the transaction well within this deadline.
Inpector is currently advancing non-refundable working capital to Knox, as a prepayment of the cash component of the transaction.
Knox will in exchange for 50% of the equity in the company, receive 12.5% ownership of Inpector and USD 1.2 mill in cash to be used as working capital.
Inpector fully owns Scimitar Production Egypt Ltd (“Scimitar”), the operator of the Issaran onshore heavy oil field, located in Egypts eastern desert c. 300 km south-east of Cairo. The field is currently producing about 4,500 barrels per day. The plan is to ramp production up to around 10,000 barrels per day after which Scimitar intends to start distributing part of its operating cash flow. The Issaran concession held approximately 700 million barrels of oil-in-place, of which less than 4% has been produced to date.
For further comments, please contact:
Geir Aune, Chairman, ga@knox-energy.com
Tom Kristiansen, COO, tk@knox-energy.com