1947 Oil & Gas plc, the newly formed oil and gas production company focused on building and operating a material production portfolio in the United States, is pleased to announce that it has commenced the process of applying for admission of its ordinary shares to trading on the London Stock Exchange’s AIM market (“Admission”), with Admission expected to occur in summer 2026. 

Today’s announcement follows the closing of a successful, oversubscribed pre-IPO fundraise of £7 million, which was supported by UK, US and Canadian institutional investors, including Wexford Capital in Connecticut and RAB Capital in the UK, alongside large single-family offices.

The Company has now entered into an exclusivity agreement to complete the acquisition of Renaissance Offshore. The proceeds of the pre-IPO fundraise will be used, alongside the Founders’ contribution, as the deposit for the acquisition of Renaissance. The net proceeds of the IPO will be used towards the total consideration of US$65 million for Renaissance and for working capital purposes. Renaissance currently produces approximately 3,000 barrels of oil equivalent per day (boepd) in shallow waters in the Gulf of America and targets increasing production to over 4,000 boepd in 2027.   

SP Angel has been appointed as Nominated Adviser and Joint Broker to the Company. 

Ivan Murphy, President and Co-Founder of 1947, said:
"We have seen an exceptional response to our pre-IPO fundraise, attracting high-quality institutional backers who recognise the strength of our team and strategy. This support underscores the quality of our first proposed acquisition in a positive oil price environment that we believe will continue for some time.

We are now focused on progressing our IPO on the AIM market of the London Stock Exchange and the completion of the Renaissance acquisition, which will provide 1947 with a scalable platform from which to grow production, as well as generate immediate and oil-weighted cash flows.”

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