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

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