KEYFACT Energy
Xplorer
Description
Xplorer was formed for the purpose of acquiring a company, business or asset that has operations in the oil and gas exploration and production sector that it will then look to develop and expand. The Acquisition is required to establish Xplorer’s presence in the oil and gas sector and will form the basis of Xplorer’s growth in that sector. It is not intended that Xplorer simply acquire minority stakes in oil and gas entities but that it acquires and operates oil and gas businesses.
Xplorer (including subsequently acquired or incorporated subsidiaries) will form a trading business, rather than an investment entity. The Company intends that the acquisition be of an operating oil and gas exploration and production business that can act as the cornerstone for building a substantial group within the same sector. Xplorer intends to grow this operational oil and gas exploration and production business both organically and by acquisition. The Company aims to achieve its objective through the identification and acquisition of companies, businesses or assets where the existing owners are attracted to the Xplorer proposition, namely the opportunity to sell for cash or hold an ownership interest in a London listed company, with cash, access to capital markets and the “know-how” to unlock the value of their acquired resource assets.