LONDON, 27 April, 2010 – Panmure Gordon & Co. is pleased to announce that it has acted as joint financial adviser, broker and underwriter on a successful £69.8m fundraising for Faroe Petroleum plc.
Panmure Gordon & Co. chief executive, Tim Linacre, commented: “We are delighted to have acted for Faroe Petroleum, a long-standing corporate client, on this fundraising.
“We are especially pleased that there was significant demand by institutions to take part, reflecting Faroe’s quality, its compelling story and the market’s interest in its future.”
Faroe Petroleum is an independent oil and gas company focused principally on exploration, appraisal and undeveloped field opportunities in the Atlantic Margin, North Sea and Norway. It will use the funds raised to facilitate significant exploration and appraisal programs, including drilling eight new wells over next two years.