City & Corporate: Madagascar Oil calls in Pelham Bell Pottinger

Pelham Bell Pottinger has been appointed to handle comms around the forthcoming London float of an oil and gas exploration firm specialising in the island of Madagascar.

Madagascar Oil announced its intention to float on the Alternative Investment Market (AIM) on Monday and has selected Pelham Bell Pottinger to support the listing.

Directors Philip Dennis and Charlie Vivian will lead the account.

The privately held company is the largest onshore exploration and development firm in Madagascar. The firm is looking to raise around £50m to support further drilling and exploration on the island.

The firm has two key onshore assets on Madagascar: Tsimiroro and Bemolanga. Tsimiroro holds 1.74 billion barrels of heavy oil, according to the company.

Meanwhile, Tavistock Communications has been called in to support the forthcoming float of a UK firm that specialises in the manufacturing of weapons for military vehicles.

Manroy, the UK maker of the machine guns that can be affixed to helicopters, armoured vehicles and boats, has been bought by shell company Hurlingham.

Hurlingham plans to raise the funds by floating the newly enlarged group on AIM and renaming it Manroy Group.

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