Bayfield takes AIM at London

Bayfield takes AIM at London

UK independent Bayfield Energy Holdings has set its sights on a London listing as it looks to expand its activity in the Caribbean.
Eoin O'Cinneide 17 June 2011 08:33 GMT
The London-headquartered company has not, however, put a value on how much it intends to raise in its initial public offering before trading on the city’s secondary bourse, the Alternative Investment Market.

Bayfield has a number of assets in Trinidad & Tobago and is looking to put any cash raised to work in the region.

It plans on drilling seven appraisal and exploration wells in the Galeota block in Trinidad while it has its eye on increasing production at the Trintes field in the country.

“Bayfield may seek to acquire additional acreage in Trinidad and Tobago or in other favourable jurisdictions,” a note from the company read today.

“Opportunities sought in relation to exploration or existing producing fields will have low entry costs and high equity participation to permit Bayfield to exercise control.”

Founded in 2008 by directors of Burren Energy, Bayfield also has assets in South Africa and near the Caspian Sea in Russia.