Aker Plans to Raise Equity for Ghana Venture, Possibly With IPO

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Aker plans to invite other investors into its oil project in Ghana, either through an initial public offering for Aker Energy or another transaction, CEO Oyvind Eriksen said at a quarterly presentation in Oslo.

* Will initiate process after development plan is filed for its Pecan discovery offshore Ghana, a submission planned by the end of March;
** “The plan is to invite other investors to participate through an IPO or another transaction in order to fund the equity portion of the project until first oil,” Eriksen says;
** No plans for Aker Energy to expand beyond Ghana;
* Aker Energy about to drill two more appraisal wells on the Deepwater Tano Cape Three Points (DWT/CTP) block offshore Ghana;
* EARLIER: Aker 4Q Net Asset Value Per Share NOK562 Versus NOK852 Q/Q;
* NOTE: Jan. 10, Aker Energy Raises Estimates for Oil Discovery Offshore Ghana. Source: Bloomberg

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