Oil and gas producer Linc Energy is hoping to win approval from its shareholders Down Under to delist from the Australian Securities Exchange (ASX) and seek permission to list here.
The company said in a statement on Wednesday that it believes a listing on the Singapore Exchange (SGX) will help it to unlock the value of its oil, gas and coal assets and its underground coal gasification (UCG) technology.
This is because Singapore is a hub for international capital markets, and an emerging regional oil and gas hub, it said.
SGX is therefore an ideal trading platform to broaden its investor base and improve access to international oil and gas and energy investors, the company added.
Linc chief executive Peter Bond said: "As Asian economies continue to grow, demand for energy is expected to increase faster than anywhere else in the world and gas is destined to fulfil an increasing proportion of the region's energy needs.
"Listing on the SGX will improve our access to international capital markets and enable us to exploit this opportunity."
Over the past nine years, the firm has invested about A$200 million (S$236 million) to develop its UCG and gas-to-liquid technology. Today, it operates a UCG gas-to-liquid technology facility in Australia and a UCG plant in Uzbekistan.
After the planned delisting from ASX and listing on the SGX, Linc said its headquarters will remain in Brisbane.
It will continue to invest in and develop its Australian assets, including shale oil leases in South Australia. It will also develop its coal portfolio and at an appropriate time, sell or demerge the traditional non-core coal assets to establish a pure-play Australian coal company.
"We plan to build our oil and gas business to approximately 70,000 barrels a day of oil production using the three main assets we own in the United States", Mr Bond said.
"We also intend to leverage on our UCG technology through joint ventures with strategic partners to develop projects."
Shareholders will be invited to vote on the proposed delisting at an extraordinary general meeting to be held on Nov 6 at the Hilton Brisbane Hotel.
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