FFW scores AIM flotation mandate for Trap Oil Group

Field Fisher Waterhouse (FFW) has advised on its third AIM flotation in the oil and gas sector in the space of six months.

A team led by corporate partner Anthony Brockbank acted for independent oil and gas exploration ­company Trap Oil Group on one of the biggest AIM ­listings of the year.

Brockbank was assisted by corporate partner George Cotter, senior associates Brad Isaac and Mark ­Gearing and solicitor Ed Westhead on the flotation, which raised £60m at a market capitalisation of just under £80m.

The funds will be used by Trap Oil, which focuses on exploration in the UK ­Continental Shelf region of the North Sea, for its ­acquisition programme and planned future growth.

The deal comes after FFW advised KPMG ­Corporate Finance and Mirabaud Securities on the £83m flotation of resource company Central Asia ­Metals, as well as oil and gas exploration company ­President Petroleum on its $50m (£30.9m) placing.

“This listing is a key step in Trap Oil’s growth and development, and as such our client needed the ­knowledge and experience of AIM specialists,” ­commented Brockbank.

Strand Hanson acted as nominated adviser to the placing, advised by Hunton & Williams partner Paul Tetlow.