Oil firm shares admitted to AIM

IRISH oil and gas exploration firm Clontarf Energy had its shares admitted to the AIM market in London, following final approval of the sale of some of its assets to Canadian company Petrominerales.

The Canadian firm bought Pan Andean’s assets in Peru and Colombia under the new name Hydrocarbon Exploration, while Pan Andean’s Bolivian and US assets were retained by management and brought under a new company, Clontarf Energy. The John Teeling-chaired entity has raised £2.7m through a share placing and has a market capitalisation of £11.9m.