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Africa Oilfield Logistics Ltd

  • BY: Andrew Hore |
  • POSTED: 18/06/2013 |

Africa Oilfield Logistics Ltd is the latest shell from former cricketer Phil Edmonds and it plans to raise 4.25m to help to finance the acquisition of a business providing services to the oil and gas sector in Africa.

Africa Oilfield plans to place shares at 5p each and this would value the company at 11.1m.

The strategy is to acquire companies involved in logistics support for the oil and gas sector in sub-Saharan Africa. The directors have experience in the resources sector in this region. Aim-quoted agricultural company Agriterra, which used to be oil company White Nile, will hold a 3.74% stake.

The company is expected to join Aim on 25 June.

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