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Private equity-backed Norwegian oil start-up eyes listing in 3-5 yrs

Thu, 01st Mar 2018 14:08

OSLO, March 1 (Reuters) - Oil start-up Mime Petroleum willseek to buy Norwegian offshore assets and expects to list itsshares on the Oslo bourse in three to five years, ExecutiveChairman Sverre Skogen told an industry conference on Thursday:

* "We see quite a few opportunities on the NorwegianContinentalShelf, some of them are quite big, and we will be part of it,"said Skogen, adding that many of these could come frominternational oil majors seeking to exit Norway

* BP, ExxonMobil and Total haveeithersold or merged assets with other companies

* Shell and Conoco Phillips retainsubstantialoperated assets off Norway

* "They need to exit, we need (an) IPO. That's where youwill seethe developments," Skogen said, adding that a listing could comein 3-5 years

* Mime Petroleum is backed by private equity groups BlueWaterEnergy and Blackstone

* Private equity investors have over the past two-threeyears beenbuying up assets in Norway's oil sector which until recentlysuffered from low crude prices(Reporting by Nerijus Adomaitis; editing by Gwladys Fouche andJason Neely)

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19 May 2014 07:58

Circle Oil starts 12-well drilling campaign in Morocco

AIM-listed oil and gas group Circle Oil has started its 12-well drilling programme in Morocco at its Sebou and Lalla Mimouna permits. This is the third drilling campaign in the Sebou permit and the first campaign in the Lalla Mimouna permit. Circle holds a 75% interest in both onshore permits. The

6 May 2014 12:11

Circle Oil Finds Oil At AASE-21 Well In Egypt

LONDON (Alliance News) - Circle Oil PLC Tuesday said its AASE-21 well at the Al Amir SE Field in Egypt found two regions of good quality oil and has been completed as a Shagar producer. The exploration and development oil and gas company said the well was started on March 9 and found Kareem

25 Mar 2014 15:13

DIRECTOR DEALINGS: Circle Oil Directors Buy Shares

LONDON (Alliance News) - Circle Oil PLC Tuesday said senior and non-executive directors bought shares in the company Monday.

Details are as follows.

20 Mar 2014 10:44

Circle Oil Adds AASE-19 To Producing Wells, Morocco Drilling Delayed

LONDON (Alliance News) - Circle Oil PLC Thursday said its AASE-19 well has now been hooked up as a Shagar producer, and it is trading in line with expectations despite its Morocco drilling operations being delayed. The exploration and development oil and gas company said its AASE-19 well in

14 Mar 2014 12:19

Circle Oil secures loan to fund Middle East and Africa expansion

Circle Oil has secured funding of up to 100m dollars to expand its exploration and production in the Middle East and Africa. The group has signed a reserve-based loan with World Bank Group member IFC, which is secured against Circle's producing assets in Egypt and Morocco. The oil company plans to

14 Mar 2014 08:35

Circle Oil Gets USD100 Million Reserve Based Lending Facility

LONDON (Alliance News) - Circle Oil PLC Friday said it has signed a reserve based lending facility of up to USD100 million with World Bank Group member IFC, secured against its Egyptian and Moroccan assets. The facility matures in June 2018. IFC will hold USD50 million of the facility and s

3 Mar 2014 16:07

Circle Oil expects extra production from Al Amir SE field in Egypt

Circle Oil's shares climbed after the oil and gas company said it was pleased with the results of the sidetrack of the AASE-19 well on the Al Amir SE field in Egypt. AASE-19 was drilled on December 1st and subsequently side-tracked for geological reasons. The well's objective was to appraise both t

3 Mar 2014 16:00

Circle Oil Achieves Good Production Rates From AASE-19 Well

LONDON (Alliance News) - Circle Oil PLC Monday said it has achieved positive test oil production from two zones on its AASE-19 well at the Al Amir SE field in Egypt. The exploration and development oil and gas company said the AASE-19 well, which was first put into test production in Decemb

6 Jan 2014 08:48

Circle Oil Appoints Former Nautical Petroleum CEO As Chairman

16 Dec 2013 08:16

Monday broker round-up UPDATE

Admiral Group: Deutsche Bank moves target price from 1300p to 1330p and maintains a hold recommendation. Allocate Software: N+1 Singer raises target price from 98p to 108p keeping a buy recommendation. Amlin: Deutsche Bank ups target price from 465p to 484p reiterating its hold recommendation. Ca

12 Nov 2013 11:53

Circle Oil Gets Up To USD100 Million In New Funding

10 Sep 2013 10:50

Circle Oil announces drilling results in Egypt

Circle Oil's shares rose after announcing drilling results of two wells in Egypt. The oil and gas explorer said the AASE-18 well encountered good reservoir quality following drilling on July 7th. The flow test showed production rate of 1,952 barrels of oil per day (bopd) and 1.821m standard cubic f

10 Sep 2013 10:25

Circle Oil Increases Production Following Positive Egypt Well Results

6 Sep 2013 13:33

Circle Oil Chairman Anderson Steps Down, Clayton Appointed Interim Chair

2 Sep 2013 07:19

Circle Oil lifts interim profit

Circle Oil reported a robust set of interim results as it pumps out daily oil and gas at record levels and said it is starting to move forward on its other existing assets. The AIM-listed international oil and gas exploration company said profit for the period rose by 10% to $14.7m in the six month

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