Curzon Energy PLC, a North America-focussed coal bed methane group, is coming to London with a new standard listing on the stock exchange.
The company is expected to have an acquisitive strategy, with the first deal bringing in the Coos Bay project which spans a 45,370 acre project in Oregon.
Coos Bay has an estimated 273bn cubic feet of CBM gas and around 400 well locations have been identified. The company is raising £2.3mln of capital alongside the listing with the new funds earmarked for programmes to connect five existing wells to infrastructure and to drill two further new wells.
Technical team assembled
The company is to be chaired by John McGoldrick, formerly chief executive of Dart Energy prior to its sale to IGas Energy, and the chief executive is Stephen Schoepfer.
In a statement, Schoepfer said: “I am delighted to announce our intention to list on the main market of the London Stock Exchange.
“We have assembled an excellent technical team with significant industry experience, who have a strong track record of operating in the US.
“We are confident we have the right strategy for developing Coos Bay, a low-risk, high-quality asset with a strong resource base and encouraging test data.”