Clontarf Energy has raised £3,500,000 (before expenses) via the placing of 1,400,000,000 ordinary shares with new investors, via several Australian based brokers, at a price of 0.25p per Placing Share.  The Placing Shares represent approximately 61.65% of the Company's issued share capital as enlarged by the Placing.

The net proceeds of the Placing will fund costs associated with the Company's existing assets and will also provide the Company with additional working capital, as the Company's board continues to assess new projects. In this regard, the Company has been evaluating a number of different projects across various jurisdictions, in particular advanced gas exploration prospects in Australia.

The Placing shares will rank pari passu with the Company's existing ordinary shares of 0.25p each. Application will be made for the Placing Shares to be admitted to trading on AIM and it is expected that such Admission will become effective on or around 4th May 2022.

David Horgan, Chairman commented,
"In recent months we have been actively reviewing a series of oil and gas proposals including undertaking preliminary due diligence on some, only to discard them. We are currently at an advanced stage in examining late stage gas exploration prospects in Australia and I look forward to providing further updates on this as and when appropriate.

New exploration requires investment. The current capital raise from a number of brokers will provide the necessary funding to participate in new exploration ventures."