Russian Exillon Energy crude oil to debut on WSE
October 26, 2012
Kazakh-controlled, London-listed, Russia-operating hydrocarbons exploration and extraction firm Exillon Energy is scheduled to debut on the Warsaw Stock Exchange on October 29, the company said in a press statement.
Exillon Energy's debut will not be preceded by a share issue. The company's market value amounts to some PLN 1.1 billion.
"The Warsaw Stock Exchange is currently the largest bourse in the Eastern European region, which attracts an increasing number of issuers and international investors," Exillon CEO Mark Martin said in the press statement."Entering the WSE we have an opportunity to increase our investor base."
Exillon energy Plc is a 100%-owner of two upstream companies in Russia. The group produces 14,000 oil barrels per day and its confirmed and probable investories amount to 165 million barrels.
The company generates some USD 10 EBITDA per barrel.
Exillon will become a peer for such Warsaw upstream firms as Petrolinvest, Kulczyk Oil Ventures, MOL, PGNiG and Lotos, but will differ from them in that it already possesses and sells crude oil, Martin said as cited by the daily Puls Biznesu.