Australia?s Anzon Energy to float shares on AIM Market

Australian junior oil firm Anzon Energy expects to start trading its shares on the AIM Market of the London Stock Exchange on Nov 16, the stock exchange said.

Anzon energy has E&P assets in Australia and Indonesia. The company is the 56 percent owner of ASX-listed Anzon Australia, which has several E&P assets in Autralia?s Bass Strait.

In Indonesia the company has 90 percent working interest in two adjoining Kaya and Kruc Technical Assistance Contract (TAC) areas onshore South Sumatra.

Anzon acquired its controlling interest in the Kaya and Kruh TACs in 2001. Kaya has an estimated 2P reserves of 3 million barrels, while Kruh has an indicated 2P reserves between 8-10 million barrels, with significant upside potential of up to 50 million barrels.

Anzon has drilled new wells and performed maintenance workovers during recent years to establish limited production on its North Kruh field. Anzon is currently drilling Kruh-2 appraisal well. (alex)