Hurricane Energy Plc (LON:HUR) has told investors that its convertible bonds are now listed on the Official List of The International Stock Exchange.
The issue, US$230mln of 7.5% bonds due 2022, has an International Stock Exchange symbol of HURCOVNT.
In June, Hurricane issued the bonds as part of a larger US$530mln funding round that is supporting the group’s development of the Lancaster oil discovery through to ‘first oil’, via an early production system (EPS).
READ: Hurricane Energy delighted’ as it quickens towards first oil at Lancaster field
Hurricane last week informed investors that it had formally taken its final investment decision for Lancaster, located in the West of Shetland region offshore UK, where production is anticipated to start in the first half of 2019.
The EPS will be a 17,000 barrel per day operation and it will pave the way to a much larger development project.
Hurricane said that its agreement for the 'Aoka Mizu' floating production storage and offloading vessel is now effective and the vessel is now on tow to Dubai for necessary upgrade work.
READ: Hurricane Energy sidelines plans for US$5mln shareholder funding
A rig contract has, meanwhile, been signed with Transocean which will complete the already drilled wells for production in the EPS. At the same time, fabrication orders placed with TechnipFMC for SURF and SPS.
Regulatory approval for development and production is expected shortly, the company added.
It is anticipated that, at some point, a farm-out deal will bring in a major oil partner for the full development.