29 June 2007
The London Stock Exchange congratulates Oilexco on its move from AIM to the Main Market.
Oilexco (LSE: OIL), is an oil and gas exploration and production company that focuses on the UK’s Central North Sea area. The company, which has producing properties and exploration activities in the Outer Moray Firth and Central Graben areas, has grown significantly since its admission to AIM in 2003. Oilexco’s directors feel that at this stage of the company’s growth, trading on the Main Market will increase its exposure and trading liquidity within the UK.
Arthur Mulholland, president and chief executive of Oilexco, says: "Oilexco’s graduation to the Main Market is a continuation of our journey in the UK. We are on the way to becoming the pre-eminent UK North Sea independent. This primary listing completes the circle."
The move to the Main Market as a primary listing has been sponsored solely by Canaccord Adams, which also acts as joint broker and joint financial adviser to Oilexco together with Merrill Lynch. Oilexco has retained its listing on the Toronto Stock Exchange.