Petroleum Africa
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Tuesday, April 29, 2014
African Petroleum Corp. has applied for a listing on Oslo Axess, a regulated market being part of the Oslo Stock Exchange. The company applied for the listing on April 25.
A potential listing in Oslo is one of several strategic options available to the company and will be contingent on a number of factors, including suitably favorable market conditions. It will provide further updates on the listing process in due course. The application for listing is pending the approval from the board of directors at the Oslo Stock Exchange.
It is subject to disclosure obligations as well as the insider regime applicable to an Oslo Axess listed company from the date of submitting the application for listing. Stock exchange notices will be made public on Oslo Stock Exchange’s www.newsweb.no under the ticker code ‘APCL’.
Commenting Charles Matthews, African Petroleum’s chairman, said: “This is a new era for African Petroleum Corporation and a listing in Oslo would be a significant statement of the company’s growth ambitions. The Oslo Stock Exchange has a strong heritage in oil & gas and, subject to the company proceeding, we believe that it would be an excellent home base for African Petroleum Corporation as we look to continue our high impact exploration program targeting over 5 billion barrels of oil in our licenses offshore West Africa.”
Stuart Lake CEO and executive director continued: “We are coming to Norway and Oslo with a clear ambition to be exposed to a sophisticated market that offers both the appropriate trading liquidity and understands high impact exploration stories such as ours. We have a strong commitment to earn the trust of this very knowledgeable investor community as we move the Company forward with a changed leadership and governance, an updated strategy and a clear plan for being judged on delivery through our actions. African Petroleum Corporation has already attracted a wide range of reputable international investors through our listing at the National Stock Exchange in Australia. The Company now seeks to continue its expansion by trading on the Oslo Axess. Oslo Stock Exchange is one of the world’s leading oil and gas focused financial markets. With this listing we are taking the next big step in our transformation to become a leading E&P company on the West Coast of Africa.”
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