1947 Oil & Gas Admission to trading on AIM

On September 28, 2026, 1947 Oil & Gas plc (“1947 Oil & Gas”) announced the admission of its ordinary shares to trading on the AIM market of the London Stock Exchange (“admission”), providing the newly listed company with capital to complete its previously announced acquisition of Houston-based Renaissance Offshore (“acquisition”) and pursue further growth in the U.S. Gulf of America/Mexico.

1947 Oil & Gas issued 500 million ordinary shares at 10 pence per share, representing an aggregate value of £50 million. This comprised the issue of 202,500,000 ordinary shares to Renaissance Offshore pursuant to the acquisition and a placing of 297,500,000 ordinary shares to new investors. Following admission, 1947 has approximately 651 million ordinary shares outstanding and a market capitalization of approximately £65.1 million.

Net proceeds of the offering will be applied towards funding the cash consideration payable in respect of the acquisition, with the balance allocated to working capital and the costs of admission.

Further information can be found on World Oil’s website.

1947 Oil & Gas, a newly listed oil and gas producer focused on US assets, began trading on London's AIM market on Monday with an initial valuation of about £65 million.