ACP Energy is a standard listed cash shell seeking oil and gas acquisitions. A significantly sized purchase is being targeted. Management has oil and financial experience and appears keen to keep costs down, with the chairman the only director taking a small salary.
The flotation is a start to the plan to create a broad investor base and access institutional investors. These will then help to finance the acquisitions. The amount of cash raised will not be enough to pay for the type of asset that the management is seeking. A minimum market capitalisation of £30m after the first acquisition is...
