Australian coal bed methane firm Dart Energy has announced plans to launch its international business on the Alternative Investment Market.
The November listing, of Dart Energy International, will run at the same time as a bid to also get new casg from private investors.
Dart said its international assets, which includes onshore coal bed methane in Scotland, as well as Europe, China, India and Indonesia, had not been well understood by Australian equity markets.
The cash raised would see Dart International “through the next phase of development; primarily commercialisation and revenue generation from a range of projects”.
Nick Davies, chairman of Dart Energy, said: “The proposed listing on AIM of Dart International is about unlocking the embedded value of Dart Energy’s international assets.
“The listing will also provide greater transparency of the value of both Dart’s Australian assets and our international portfolio.
“A separate listing of the international assets will ensure Dart International is fully funded through the next phase of development.”
Dart International, headquartered in Singapore, is focused on unconventional natural gas resources across the UK, continental Europe and Asia.
It has 44 coal bed methane (CBM), shale gas and coal mine methane (CMM) assets at various stages of exploration, appraisal and development.
This includes two CBM projects now in pilot production – one at Airth near Perth in the central belt of Scotland.
The the Airth CBM project, a small scale gas-to-power operations, started operations in July this year and the
project is expected to move to larger scale commercial production during 2013.
It is also in the final stages of negotiation to enter a shale gas production sharing contract in Chongqing Municipality, China.