Oil and Gas Eye Q1 2013

The AIM oil and gas universe (including oilfield services companies) stood 118 strong at the end of Q1, compared to 115 in Q4 2012.

The suspension in trading in Gold Oil was lifted in January after completion of a placing that raised £2.085 million. Gold Oil had requested the suspension in July 2012 when it was left with just one director.

In October 2012, shares in Bayfield Energy were suspended from trading on AIM pending its merger with Trinity Exploration & Production Limited.

The merger completed in February and the company’s enlarged share capital was admitted to trading on AIM under the name Trinity Exploration & Production plc. It also raised gross proceeds of £57 million via a placing.

Trading on AIM of Aurelian Oil & Gas’ shares was cancelled in January after the completion of its merger with San Leon Energy.

Toronto Venture Exchange-listed Falcon Oil & Gas joined AIM and the Enterprise Securities Market of the Irish Stock Exchange in March after a placing raised £16.9 million. It believes the listings will give access to additional finance sources. Falcon acquires, explores and develops conventional and unconventional oil and gas assets in South Africa, Australia and Hungary.

Northcote Energy’s shares were admitted to trading on AIM in January after the successful completion of its IPO, which raised £1 million. It has existing production and development potential projects mainly in Oklahoma’s Mississippi Lime formation.

There were ten successful IPOs across other sectors on London’s junior market in Q1.

£124.7 million was raised from new issues by all companies on AIM – 53% lower than Q4 2012’s total, but more than double Q1 2012’s.

Quarterly trend of funds raised on AIM – oil and gas, and all sectors

Source: Ernst & Young analysis of AIM market statistics
New issues include IPOs, introductions, transfers and re-admissions (money and non-money raising)