PERTH (miningweekly.com) – Diversified energy producer Linc Energy said on Wednesday that it planned to delist from the ASX, and that it would immediately seek regulatory and securities exchange permission to relist on the main board of the Singapore Exchange.

The oil and gas miner said that a listing on the Singapore Exchange would help with unlocking the value of the company’s unconventional oil, gas and coal assets, as well as its underground coal gasification (UCG) technology.

“Singapore is a hub for the international capital market and an emerging regional oil and gas hub, and the company believes that the Singapore Exchange is an ideal trading platform to broaden its investor base and improve access to international oil and gas and energy investors,” CEO and MD Peter Bond said.

The move was also expected to improve access to capital markets and reposition the company to deliver is long-term growth strategy.

“Following the transition, we believe Linc Energy will be one of the largest independent upstream oil and gas exploration and production companies listed on the Singapore Exchange, and one of South East Asia’s largest in terms of production and proved and probable reserves.”

Bond added that the listing would also strengthen Linc’s status as a global energy company, helping to recognise the value of the company’s UCG technology and its energy assets.

While Linc would delist from the ASX, the company would retain its head office in Australia, and would continue to develop its Australian assets, which include shale oil leases in South Australia.

The listing on the Singapore Exchange would likely be accompanied by a share offer to new investors, with the funds raised used towards accelerating the development of existing assets, and to progress exploration and development work on assets.

Meanwhile, Linc would also develop its coal portfolio and would, at an appropriate time, look to either divest or demerge the traditional noncore coal assets to establish a pure play Australian coal company.