City & Corporate: Nelson Resources whips up interest in AIM listing

Oil company Nelson Resources this week launched a City charm offensive ahead of what the company has billed as the largest AIM listing this year.

The company has drafted in Hogarth Partnerhip to handle relations with analysts and the financial press. Former Misys group director of comms Lisa J Newman is also advising the company.

Hogarth partner John Olsen is leading the account, while Newman is working in-house as a strategic consultant to Nelson. Olsen reports to Newman and Nelson chairman Nick Zana.

Nelson is already listed on the Toronto stock exchange and has a market capitalisation of around £425m. But the company's plan to raise up to £100m through its AIM listing would make it one of the top five companies on the market, and one of the biggest independent oil companies listed in the UK.

Cannacord Capital is financial adviser on the deal and joint broker with Hoare Govett.

Newman left Misys last year, later forming Newman Consulting, and has been replaced by former Cable & Wireless head of comms Susan Cottam (PRWeek, 21 May). She was previously head of comms at Ramco.

Nelson operates in the former Soviet republic of Kazakhstan and is owned by two Kazakh institutions that hold around 68 per cent of the company.

The company has probable oil reserves of 210 million barrels and was producing oil at a rate of 14,200 barrels a day at the end of last year.

Nelson is likely to benefit from the pipeline being built between China and the Caspian basin.

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