UAE consortium to acquire 29pc in Victoria Oil

Abu Dhabi, January 6, 2008

Abu Dhabi-based investment house Noor Capital is acquiring 29 per cent  of UK's Victoria Oil and Gas Plc along with a consortium of UAE and Gulf investors.

The consortium led by Falcon Petroleum Ltd will invest $36 million in Victoria Oil and Gas, which is listed on the London Stock Exchange Alternative Investment Market (AIM), Noor Capital said in a statement. It gave no further details.

The consortium would have the option to bid for the whole company in the future, it added.    Victoria Oil & Gas Plc is an AIM-listed oil and gas company in the London Stock Exchange operating in the oil and gas sector in the former Soviet Union.

The company operates an oil producing field in Kazakhstan, and has exploration concessions in Siberia and Britain as Kazakhstan. Falcon Petroleum Limited is an independent oil and Gas Exploration and Production operating company registered in
Cyprus by a group of UAE and international partners. – Reuters

Tags: Victoria Oil and Gas | Noor Capital | AIM |