Corallian plans IPO/farm out

摘要

UK player Corallian Energy has unveiled plans for an Initial Public Offer (IPO) in 2020, as well as a farm-out process for two North Sea prospects. Reabold Resources, which has a 35% stake in Corallian, said that the operator was targeting an IPO in the second half of 2020 to fund ￡300,000 (US $384,928). The raised finances will also be used to finalize well locations on the Unst and Dunrobin prospects, with a farm-out process to be launched in December at the PROSPEX industry event in London.