Oil veteran Gandur plans Canada IPO for Oryx Petroleum

Thu Mar 28, 2013 5:44pm EDT
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* Files preliminary prospectus for Canada IPO

* Oryx has assets in Kurdistan, west Africa

* AOG chairman Gandur said hopes for "second Addax"

By Tom Miles and Emma Farge

GENEVA, March 28 (Reuters) - Addax & Oryx Group (AOG), chaired by billionaire Jean Claude Gandur, plans to list its oil exploration subsidiary Oryx Petroleum in Canada, the firm said on its website.

Oil industry veteran Gandur was catapulted onto the Forbes rich list in 2009 when he sold Addax Petroleum to Sinopec three years after its IPO.

"AOG's upstream division, Oryx Petroleum, has filed a preliminary prospectus with the securities authorities in Canada, as the first step in the process of preparing for an initial public offering on the Toronto Stock exchange," the company said on its website on March 15.

It did not give further details of the IPO timing.

Like Addax, Oryx has a focus on the Middle East and West Africa, with interests in the Kurdish and Wasit regions of Iraq, Nigeria, Republic of Congo and the offshore AGC block between Senegal and Guinea Bissau.   Continued...