Oil and Gas Eye Q2 2014

Ins and outs of the AIM oil and gas universe

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The AIM oil and gas universe (including oilfield services companies) stood 113 strong at the end of Q2, compared to 112 in Q1.

Shares in Zoltav Resources were readmitted to trading on AIM in May following the completion of its acquisition of Royal Atlantic Energy and its operating subsidiary Diall Alliance.

The $180 million deal will result in a fundamental change in the company’s business because of the size of the acquisition relative to its own. It was previously classified as a specialty finance business. The acquisition delivers 100% ownership of the Bortovoy Licence in Russia, Zoltav’s first producing asset. Its strategy is to acquire a portfolio that will include assets at various stages of development across the CIS region, although it currently expects most opportunities to be in Russia.

There were 24 successful IPOs across other sectors on London’s junior market in Q2. Funds raised from new issues by all companies listed on AIM were £535.3 million, 55% lower than for Q1, but more than double Q2 2013’s total.

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

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

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