Leed Petroleum Stock Begins Trading on London's AIM Market
Leed Petroleum recently commenced trading on the AIM Market of the London Stock Exchange. At admission the Company successfully raised gross proceeds of US$97million through a placing, predominantly with institutional investors, at 47p per share. At the placing price the market capitalization of Leed was US$232million. Matrix Corporate Capital LLP is the Company's Financial Adviser and Broker.
Howard Wilson, President and Chief Executive of Leed Petroleum PLC, commented:
"Admission to trading on AIM marks an important new stage in our development. The Company has a balanced and impressive portfolio in a region with strong economics, infrastructure and proven oil and gas production. With the proceeds we are now positioned to accelerate our plans and deliver on our ambitions of creating shareholder value.
Our current daily production is expected to rapidly increase as we commence our development programme and we see further growth through a number of opportunities aligned with our three-tiered acquisition strategy in Leed's core region of expertise."
Leed Petroleum is an oil and gas exploration and production company operating in the Gulf of Mexico, with interests in 12 Gulf of Mexico leases and one onshore lease located in South Louisiana, USA. The Company was previously known as Darcy Energy, which was established in 1999 with a particular strategy of capturing low-risk oil and gas opportunities.