AOG’s upstream division Oryx Petroleum completes IPO

15 May 2013

AOG is pleased to confirm that the initial public offering (IPO) of its upstream energy division, Oryx Petroleum, was successfully completed today.

A total of 16.7 million shares in the capital of Oryx Petroleum Corporation Limited have been offered to the public on the Toronto Stock Exchange at a price of CAD$ 15.00 per share for gross proceeds of CAD$ 250.5 million (CHF 230 million).

"I am very pleased with the success of the IPO which secures the necessary funding to pursue Oryx Petroleum's exploration and production ambitions in Africa and the Middle East," declared Jean Claude Gandur, founder and Chairman of AOG and Chairman of Oryx Petroleum. "Since founding Oryx Petroleum in 2010, AOG has invested over $700 million to fund its exploration activities to date and I am delighted to say that it filed its first discovery in Iraqi Kurdistan in April this year, which bodes well for the future," he added.

Oryx Petroleum has projects in Iraq, Nigeria, Senegal/Guinea Bissau and Congo (Brazzaville).

AOG and its affiliates remain the majority shareholders of Oryx Petroleum Corporation Limited with over 75% of its outstanding share capital.