15 December 2012

Nigeria: Eland Oil to Trade On LSE

Lagos — Nigerisa's Eland Oil and Gas would be admitted to trade on AIM, the London Stock Exchange's specialised market for growth companies on 24 December 2012.

Eland Oil and Gas is the operator of OML-40 field located onshore within the Niger Delta. With this, Eland Oil & Gas would be a part of the FTSE AIM 50 Index. The index comprises of the 50 largest UK incorporated companies on AIM by market capitalisation.

According, Mohan Bhuyan, Communications Consultant, Primary Markets, India, Middle East and Africa, LSE, Eland has qualified for the FTSE AIM 50 by dint of its high market capitalization of over N 37 billion (about £150 million) and strong liquidity. Eland Oil & Gas was admitted to AIM on 3 September 2012 having raised £ 118 million.

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