LONDON Jan 22 North Sea-focused oil firm
Hurricane Energy announced plans to float on London's junior AIM
market in February, in an initial public offering (IPO) which
will value the company at around 272 million pounds ($447.8
The company said it would raise around 18 million pounds
from investors upon listing plus another 31.4 million through
the conversion of loan notes and a warrant at the time of the
Hurricane, which has oil licences off the west coast of the
Shetland Islands north of Scotland, said it planned to use the
funds to drill a well to appraise its Lancaster oil discovery.
A spokesman for Hurricane said oil major BP was
amongst the investors in the company, having invested in a
funding round last March.
It expects to have its shares admitted to trading on AIM on