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Sarantel re-launched as UK Oil & Gas Investments

Sarantel re-launched as UK Oil & Gas Investments

Former communications technology firm Sarantel (LON:SLG) is being re-launched by AIM dealmaker David Lenigas, to focus on onshore oil and gas projects in the United Kingdom.

Sarantel, which made specialist GPS products, was suspended on the AIM market in May and in October the business’s assets were sold by administrator PriceWaterhouseCooper, and subsequently a new investment policy was adopted for what effectively became a shell company.

Today, the company announced it would raise £200,000 to support its pursuit of onshore oil and gas opportunities in the UK.

It will at the same time be renamed UK Oil & Gas Investments.

"UK Oil & Gas Investments will become the new name of Sarantel to reflect the direction in which the Board wishes to pursue investment opportunities under the company's new investing policy,” chairman Lenigas said.

“The company will be seeking investments specifically in the domestic conventional oil and gas sector here in the UK.”

"Your new board has successfully reorganised Sarantel and looks forward to rebuilding the company in its new form."


The company says its investments are focussed on ‘conventional’ assets, and as such it has no interest in shale or fracking.

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