Infinity Energy : Unaudited Interim Results for the six months ended 30 June 2017

29 September 2017

Infinity Energy S.A.

("Infinity Energy" or the "Company")

Unaudited Interim Results for the six months ended 30 June 2017

Infinity Energy (AIM: INFT) today reports its unaudited interim results for the six months ended 30 June 2017.

Interim Highlights:

• The Company received interest income of £3k (2016: £3k).

• Staff costs amounted to £23k (2016: £24k) and related solely to Directors fees. Directors' fees have been accrued and are shown in the balance sheet under 'Provisions for other liabilities and charges'.

• Administrative costs for the period amounted to £197k (2016: £69k).

• The total loss for the period was £230k (2016: £102k).

Key Developments during the Interim Period: Fund raising - During the period the company raised £1,100,000 in equity from new and existing shareholders. The proceeds received net of issue costs amounted to £1,043,000. Conversion of Convertible loan note - Mr. Gerwyn Llewellyn Williams, Company Director and Chief Executive Officer, converted his convertible loan totalling £480,000 into new ordinary shares. Reverse Acquisition - On 19 April 2017, the board announced that the Company was investigating a number of potential reverse takeover candidates in the oil and gas sector and was focussed on completing a suitable reverse takeover transaction as soon as possible. Given this decision, the Company became an AIM Rule 15 cash shell which requires the Company to make an acquisition or acquisitions which constitute a reverse takeover under Rule 14 of the AIM rules by 12 October 2017, otherwise trading of the Company's shares on AIM will be suspended. If the Company does not make an acquisition or acquisitions which constitute a reverse takeover under Rule 14 of the AIM rules within six months of such suspension, the admission of the Company's shares to trading on AIM will be cancelled.

It is envisaged that the Company will complete a reverse acquisition in the near future in line with its stated objective.

Bruce Vandenberg - On 31 May 2017, Mr. Bruce Vandenberg stepped down as a Director of the company to pursue other business interests. Post Balance Sheet Events:

It is envisaged that the Company will complete a reverse acquisition in the near future in line with its stated objective.

For further information: Infinity Energy S.A.

Gerwyn Williams Tel: [phone]

Nomad Cairn Financial Advisers LLP

Sandy Jamieson/James Caithie Tel: + 44 207 213 0880

Joint Broker W H Ireland Limited

Paul Shackleton/Nick Prowting Tel: [phone]

Peterhouse Corporate Finance Limited

Eran Zucker / Lucy Williams Tel: [phone]

STATEMENT OF COMPREHENSIVE INCOME

(Expressed in GBP (£))	Notes	unaudited six month period to 30/06/2017	unaudited six month period to 30/06/2016	audited year ended 31/12/2016
Income
Interest	4	3,002	2,878	5,849
Total net income	3,002	2,878	5,849
Expenses
Staff costs	4	(23,000)	(24,000)	(48,000)
Administrative expenses	4	(197,171)	(69,444)	(239,487)
Interest and financial charges	4	(12,699)	(11,500)	(25,412)
Total operating expenses	(232,870)	(104,944)	(312,899)
Loss before taxation	(229,868)	(102,066)	(307,050)
Income tax	-	-	(2,749)
Total comprehensive loss	(229,868)	(102,066)	(309,799)
Basic loss per share	5	(0.00013)	(0.0002)	(0.0008)

STATEMENT OF FINANCIAL POSTION

(Expressed in GBP (£)) ASSETS Non-current assets Financial assets at fair value through profit	Notes 4	unaudited unaudited audited 30/06/2017 30/06/2016 31/12/2016 211,405 205,432 208,403
and loss
Total non-current assets	211,405 205,432 208,403
Current assets Cash and cash equivalent	959,782 8,405 8,020
Total current assets	959,782 8,405 8,020
Total assets	1,171,187 213,837 216,423
EQUITY AND LIABILITIES Capital and reserves Share capital	2,086,719 486,719 506,719
Share premium	125,483 182,483 182,483
Accumulated losses	(1,455,977) (1,018,376) (1,226,109)
Shareholders' equity	756,225 (349,174) (536,907)
Current liabilities Trade and other payables	4	233,962 57,011 135,330
Provisions for other liabilities and charges	181,000 134,000 158,000
Total current liabilities	414,962 191,011 293,330
Non-current liabilities Convertible loan	6	- 372,000 460,000
Total equity and liabilities	1,171,187 213,837 216,423