Petroleum today becomes the latest oil and gas company to mull a London listing, as it looks to expand in Romania’s market.
The company, which is already listed on Australia’s stock exchange, has stakes in three assets in Romania and sees the country as a strong platform from which to build an onshore European oil and gas company. Romania’s domestic market is currently going through the process of being privatised, which has prompted a number of overseas investors to tap into opportunities there as state-backed companies put assets on the block.
“With development, appraisal and exploration assets in Romania, Aim in London is a natural place for Zeta to dual list,” said chief executive Andy Morrison. “We anticipate our relatively low-risk, low-cost European onshore portfolio and future news flow will resonate with investors on Aim, particularly as energy security in Europe continues to be a highly topical subject.
“Located in the heart of Europe and with a long heritage of hydrocarbon production, Romania is ideally placed to make a positive contribution towards tackling the continent’s energy deficit.”
SP Angel is acting as international broker and intended Aim broker, while Sanlam has been appointed as intended nominated adviser.