Aurelian Oil & Gas plc — listing on AIM and placing
Aurelian is an existing audit client of Haslers and when it came to appointing Reporting Accountants the board turned to Lawrence Shafier, the audit partner at Haslers.
Lawrence introduced Simon Blake, one of Haslers´ corporate finance partners who heads up due diligence and reporting accountant´s work.
Simon led a team that worked very closely with the board of directors and the finance team of Aurelian to deliver the portfolio of reports necessary for the Nominated Advisors (Nomad) to support the listing of the company´s shares on AIM which successfully completed in August 2006.
Aurelian has already built up a diverse portfolio of oil and gas exploration and development assets that includes discovered gas fields in Romania, which should commence production shortly, and a number of additional exploration and development opportunities in Romania, Bulgaria, Poland and most recently Slovakia.
Commenting on the deal, Simon said “whilst the business was at the time of listing still pre-revenue, with substantial interest both sides of the Atlantic, managing the financial aspects of the listing, liaising closely with the UK lawyers acting for the company and those handling the admission documentation needed a clear and focussed approach throughout over an extended period, and the hands on approach taken by Haslers team ensured that as inevitably hurdles arose, they were promptly dealt with. These included facing some of the oddities of the AIM rules — for instance, it was necessary for the audit team to go and audit the 2003 accounts — after the 2005 audit had been completed!”
Haslers are currently working on other due diligence and public reporting transactions both for both listings and private company funding purposes.
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