NORTH Sea oil company Fairfield Energy was linked yesterday with a possible listing on the Stock Exchange valuing the company at up to £350million.
It was claimed the company was working with independent adviser Hawkpoint towards a flotation.
A Fairfield spokesman declined to comment on the report, however, it is understood that the company is not committed to becoming listed and is looking at various options for its future.
The firm was set up in 2005 with funding from a syndicate of North American and European private-equity investors led by Warburg Pincus.
It revealed then it had secured funding worth £114million to plough into North Sea projects.
Fairfield said it had agreed to acquire certain subsidiary companies from Acorn Oil and Gas, including its interests in the abandoned Maureen and Crawford fields.
Mark McAllister, who formed Acorn in 2001 to pursue North Sea exploration and development, joined Fairfield as managing director.
At the end of 2007, Shell confirmed the sale of its North Sea Dunlin cluster to Fairfield. Last September, Fairfield said it had agreed a deal that could lead to redevelopment of the North West Hutton field, which ceased production in 2003 and was being decommissioned.
Yesterday’s report also linked Caithness Petroleum with working towards a possible London market debut, but this was denied by the company. It said the claim was inaccurate. Caithness has interests including five blocks in the Inner Moray Firth plus onshore acreage and a sixth block in the central North Sea.