09/05/2007 Imperial Energy to the Main Market
9 May 2007
The London Stock Exchange congratulates Imperial Energy on the company’s move from AIM to the Main Market.
Imperial Energy is an independent upstream oil exploration and production company focused on the Commonwealth of Independent States and in particular, the Russian Federation. The company has moved onto the Main Market by way of an introduction and will trade on SETSmm.
The estimated market capitalisation of the company following the introduction is £635m.
Since its founding in 2004, Imperial has expanded by acquisition and acquired exploration licences and exploration and production licences, principally in the Tomsk region of Western Siberia, Russia. Since those acquisitions, Imperial has moved rapidly to identify substantial reserves and has commenced oil production in some of the areas covered by its licences.
The joint corporate advisers to the introduction were Merrill Lynch & ABN Amro Hoare Govett, and the financial PR adviser was Pelham PR.