Energy exploration company BPC Limited, formerly known Falkland Gold & Minerals, began trading on AIM this morning.
The reverse takeover follows the failure of the Falkland-focused company to locate any minerals deposits of sizeable interest on the islands.
As a result, it has moved its attention to the Bahamas where it has picked up licenses to explore and evaluate offshore opportunities for oil drilling.
Following the AIM float, the company is seeking industry partners to fund the venture which it hopes will result in drilling in 2012.
Alan Burns, chairman of BPC, said: “We are delighted to be joining AIM today and believe it provides the ideal platform to support our ambitions for the future of the company.”
The company’s nominated adviser is Ambrian and its broker is Fox-Davies Capital.
© Crimson Business Ltd. 2008
