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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Wham | LSE:WAM | London | Ordinary Share | GB00B0JG1P02 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 41.30 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:7030R Wham Energy plc 26 September 2005 Not for release, distribution or publication in whole or part in or into the United States, Canada, Japan or Australia WHAM Energy plc First Day of Dealings on AIM WHAM Energy plc ("WHAM" or "the Company"), the North sea specialist oil and gas exploration company, is pleased to announce its flotation on the Alternative Investment Market ("AIM") of the London Stock Exchange today. (AIM: (WAM)) Dealings in its shares have started today following a successful #10m placing of new shares underwritten by Bridgewell at a price of 90p per share. The market capitalisation of WHAM at the Placing Price on commencement of dealings is expected to be #28.5m. Bridgewell acted as Nominated Adviser and Broker to the placing. Tom Windle, Chief Executive of WHAM, commented, " We are delighted with the response from investors to the Company's flotation. With our exciting list of prospects and our team's proven track record and experience, we look forward to delivering significant shareholder value for our investors. " The new funds will enable the Company to advance our exploration programme comprising seismic and drilling opportunities across our portfolio of UK Promote licences. We believe our portfolio comprises a number of potentially attractive commercial oil and gas prospects starting with our immediate drill-ready prospect Prometheus. " Our goal is to continue to develop further drillable prospects for 2006 and 2007 from our existing Promote licences and to work-up our awards from the Dti's recent 23rd licence round." " We have a number of live projects that are underway and we expect to update the market on progress shortly. The team at WHAM is looking to the future with confidence." Background on WHAM Energy WHAM is an independent UK based oil & gas exploration company focused on the hydrocarbon producing basins of the UK North Sea. WHAM was formed in 2003 by a team of former senior Amoco explorers with over two hundred years of experience in the North Sea. WHAM holds 10 offshore exploration licences primarily across the UK Southern North Sea gas basin. The Company intends to develop as an independent UK focused upstream oil and gas business through an active exploration and appraisal programme. The Company has a track record of pro-active management of its oil and gas assets including the recent farm-out of its Southern Gas basin Prometheus prospect. WHAM was awarded an additional three blocks (53/3d, 43/11 & 43/12) at 100% working interest in the recent 23rd Promote licence round. In July 2005, WHAM announced that Centrica plc had taken a 40 per cent stake in one of its North Sea licences that contains the Prometheus gas prospect. Centrica will drill an exploration well in September 2005 with the results due in October 2005. WHAM will retain a 20% interest in the licence. Despite the UK North Sea being seen as a mature hydrocarbon province, the Directors believe it still offers material undiscovered reserve potential. The Directors believe that increased activity within under-explored areas of the North Sea and a focus on more subtle hydrocarbon traps such as the Prometheus prospect will form the basis for future UK hydrocarbon exploitation. -ends- Date: 26 September 2005 For further information contact: WHAM Energy plc Tom Windle 020 7738 8730 Bridgewell Securities Limited Greg Aldridge/Andrew Matharu 020 7003 3000 cityPROFILE Oliver Winters 020 7448 3244 This information is provided by RNS The company news service from the London Stock Exchange END MSCBUGDCXXDGGUX
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