Ecosse plans dual listing to raise exploration fund
Wednesday, May 23 2012 - 05:00 PM WIB
Indonesia-focused Canadian junior exploration firm Ecosse Energy Corp. announced Wednesday that it has appointed Fox-Davies Capital Limited as Nominated Advisor and Broker for a proposed Admission to trading of its shares on the Alternative Investment Market (AIM) on the London Stock Exchange in 2012.
Currently the company is only listed at Canadian National Stock Exchange (CNSX)
Fox-Davies is a financial adviser and stockbroker based in London, England that specialises in advising and raising capital for junior international oil and gas and resources companies.
Alan Morrison, President and CEO of Ecosse Energy Corp. said: "We are excited by the appointment of Fox-Davies who will oversee our proposed AIM dual listing in 2012 and advise us on a placing to raise funds to meet our on-going exploration funding requirements on our two exciting production sharing contracts in Indonesia where we have identified a multi-prospect inventory and to also fund expansion into additional Indonesian acreage."
Ecosse Energy through its wholly owned subsidiaries owns 100% working interest in the Bengkulu PSC in Sumatra and Manokwari PSC in West Papua. The Bengkulu PSC covers 4,101km2 and consists of both onshore and offshore portions. The Manokwari PSC covers 3902km2. Both blocks are currently in the exploration phase with both PSCs planning to drill onshore wells in 2012.
Editing by David Mustakim