LONDON, Jan 22 (Reuters) - North Sea-focused oil firmHurricane Energy announced plans to float on London's junior AIMmarket in February, in an initial public offering (IPO) whichwill value the company at around 272 million pounds ($447.8million).
The company said it would raise around 18 million poundsfrom investors upon listing plus another 31.4 million throughthe conversion of loan notes and a warrant at the time of theIPO.
Hurricane, which has oil licences off the west coast of theShetland Islands north of Scotland, said it planned to use thefunds to drill a well to appraise its Lancaster oil discovery.
A spokesman for Hurricane said oil major BP wasamongst the investors in the company, having invested in afunding round last March.
It expects to have its shares admitted to trading on AIM onFeb. 4.