REG - ACP Energy PLC - Admission to Trading & First Day of Dealings

Acp EnergyAnnouncement

28/01/2022 07:00

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RNS Number : 9106Z  ACP Energy PLC  28 January 2022

 

 

 

28 January 2022

ACP ENERGY PLC

("ACP" or "the Company")

Admission to Trading on London Stock Exchange & First Day of Dealings

ACP Energy Plc is a newly formed company set to capture value accretive
opportunities in the oil & gas industry.  The Company is pleased to
announce that admission to trading on the London Stock Exchange's Main Market,
Standard Segment, via a Special Purpose Acquisition Company ("SPAC"), will
take place and dealings will commence at 8.00 a.m. today under the ticker
ACPE.L.

Paul Welch, ACP Energy Plc's Chairman, commented:

"We are very pleased to have successfully listed ACP on the London Stock
Exchange, via a Special Purpose Acquisition Company.  ACP is focused on
acquiring hydrocarbon producing assets that are either in production or near
to production, bringing swift cash flow generation and ensuring early business
stability.  Whilst listing is an important milestone, we now begin the work
of bringing our collective experience to bear in identifying significant
acquisition opportunities upon which we can grow the business.  At a time of
transition in the energy markets, there remains a significant global demand
for new sources of oil and gas.  Throughout this period, the Board is
committed to the highest standards of Environmental, Social and Governance
practices and looks forward to providing further updates to the market in due
course."

 

Strategy

 

The Company will focus on acquiring opportunities within the upstream segment
of the oil and gas industry, in areas such as appraisal, development and
production, focusing particularly on projects with identified oil and/or
natural gas reserves and resources.

 

The Company has identified the following criteria for the purpose of reviewing
and evaluating opportunities:

·    Sectoral Focus: ACP intends to focus on opportunities in the upstream
oil and natural gas sector. The Company will have a particular focus on
producing assets, that require additional investment to increase the
production and reserves base. The Company believes that there are significant
opportunities in the upstream oil and gas sector and, in particular, existing
producing assets that will generate value for Shareholders.  ACP, together
with its advisers, has extensive global networks within the sector from which
to solicit and assess opportunities.

 

·    Development Profile: The Company intends to focus on producing assets
that have not received sufficient investment capital due to either local
fiscal issues or previous downturns in commodity prices. Such assets will
likely have had some development work undertaken to establish a minimum base
of production or resource which, for whatever reason, now requires further
funding, in order to either fully develop the opportunity or to either return
it to or increase its production.  ACP therefore expects to focus on
opportunities where the asset will be revenue generating, either immediately
upon acquisition or within a reasonable timeframe following completion of the
work program.  The Company believes that this strategy will balance
investment risk against generating long-term shareholder value.

·    Geography:  The Company does not propose to limit its search to any
specific geographic location; however, the geographic location of any
investment opportunity will be suitable for institutional investment within
the London market.  The assets may be located anywhere in the world, but the
Company will primarily be looking at opportunities in proven hydrocarbon
producing jurisdictions with established oil and gas infrastructure.

 

·    Opportunity Identification: The Company, through its broad range of
contacts plans to identify, originate, structure and finance oil and gas
transactions that generate value for its shareholders.  The Company will use
its internal research to identify and assess potential opportunities and will
then initiate discussions directly or via market contacts and professional
advisers.

 

·    Operator: Following the completion of an Acquisition, the objective
of the Company is to be involved in the operations of the acquired business.
The Company envisions that additional opportunities will be available to it by
taking an active role in the management through appraisal activity,
operational improvements, capacity expansions and funding working capital.
Operational management is anticipated to provide superior insight into a
particular sector or operating region allowing value accretive complementary
acquisitions to be made.

 

·    Value Creation: The Company's long-term aim is to create shareholder
value by investing in projects with dependable cashflows and build a portfolio
where there is large potential upside in value by providing vital finance and
expertise enabling an asset or business to achieve its full potential. ACP is
committed to the highest standards of governance and to fulfilling its
corporate responsibilities by making meaningful economic and social
contributions in the areas where it operates.

 

 

For further information:

www.acpenergyplc.com (http://www.acpenergyplc.com)

 

ACP Energy

Paul Welch, Executive Chairman
 
               +44 207 193 2376 / pw@acpenergyplc.com

 

Celicourt Communications

Mark Antelme / Jimmy Lea
                        +44 208 434 2643 / acpenergy@celicourt.uk

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