Ithaca Energy has received conditional approval to list its shares on the Toronto Stock Exchange.
Final approval of the listing is subject to Ithaca satisfying certain customary filing requirements of the TSX.
The North Sea-focused Canadian oil and gas explorer and developer, also listed on AIM in London, said it expects that such filing requirements will be completed prior to the end of October and that the common shares will begin trading on the TSX on or about November 1.
On listing on the TSX, the common shares will continue to trade under the symbol IAE.
Ithaca will then also make an application to the TSX Venture Exchange to voluntarily delist its common shares from the TSXV.
A statement from Ithaca said: “Ithaca’s graduation to the TSX will mark another progressive stage in the company’s continued growth profile.
“Additionally, the listing of the common shares on the TSX will provide the company with access to Canada’s largest stock exchange and is expected to enhance Ithaca’s trading liquidity and visibility within North American capital markets.
“Following the listing of the common shares on the TSX, the common shares will continue to trade on the AIM of the London Stock Exchange under the symbol IAE.
Earlier this week Ithaca Energy said work on its £180million Athena project was on track for first oil by the year-end.
A floating production vessel mooring system for the BW Athena vessel has been installed and the fifth development well is due to have been completed by drilling rig Sedco 704 in mid-October
Installation of the subsea pipelines has started and is due to be completed this month, with hook up using the Bibby Topaz dive-support vessel in December.