The Company was initially incorporated in Canada in 1987 as Iskut Gold Corporation and immediately began trading on the Vancouver Stock Exchange (now the TSX Venture Exchange). Since then, its name has changed to A&B Geoscience Corporation (1994) and Arawak Energy Corporation (2003) and in November 2006 the Company began trading its common shares on the main board of the Toronto Stock Exchange (“TSX”).
In April 2008 the Company changed its name to Arawak Energy Limited and became a Jersey registered company and on 1 July 2008 announced its admission to the official list and the main market of the London Stock Exchange. Arawak’s shares now trade on both the TSX and the LSE under the symbol “AAK”.
Key events in the company’s history:
- 2008
- Calyon US$80 million loan facility signed
- Acquired 100% interest in Tamdykol exploration block (Kazakhstan)
- Completed Saigak acquisition in Kazakhstan (40% stake in producing field)
- Admission to London Stock Exchange in July 2008
- Seven seismic surveys concurrently underway
- 2007
- Acquired 100% interest in South Sotchemyu exploration and production block in Russia, adjacent to existing producing acreage
- Production reaches a new high of 11,800 boepd in Q4 2007
- Exploration success at Alimbai, production commences
- 2006
- Expanded Kazakhstan assets: Akzhar field from 3.8 sq km to 71.5 sq km.
- Transition to main board of TSX from TSX Venture
- Acquired 100% interest in three exploration blocks (Alimbai, East Zharkamys III in Kazakhstan and Kymbozhyuskaya in Russia)
- 2005
- Exploration and production assets acquired in Russia and Kazakhstan
- Acquired 100% of Altius Energy Corporation (assets in Kazakhstan)
- Acquired 50% of RFE (assets in Russia)
- 2004
- Interest in the EDPSA in Azerbaijan secured through completion of the Minimum Obligatory Works Programme (MOWP)
- 1998
- South West Gobustan EDPSA signed in Azerbaijan (40% participation)