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 registered in Jersey, and on 1 July 2008 it was admitted to the UK Official List and the main market of the London Stock Exchange. Arawak’s shares were traded on the TSX and the LSE under the symbol “AAK”.
In October 2008, Rosco S.A., a subsidiary of the Vitol group of companies, announced its intention to offer C$0.90 per share for all outstanding issued common shares in Arawak. In January 2009, Rosco and Arawak’s Board of Directors announced a revised and recommended offer of C$1.00 per share. In April 2009, Arawak became a wholly owned subsidiary of the Vitol group of companies and its shares were delisted from trading on the London and Toronto stock exchanges.
Below is a timeline of the key events in the company’s history.
- 2009
- Production reaches a new high of approximately 14,300 bopd in Q1
- Rosco S.A. successfully completes C$1.00 per share offer for all outstanding issued common shares of the Company
- 2008
- Calyon $80 million reserve base loan facility signed
- Acquired 100% interest in Tamdykol exploration block (Kazakhstan)
- Acquired 40% non-operating interest in Saigak oil producing field (Kazakhstan)
- Record oil production at 4.17 million barrels, or an average 11,380 bopd
- Seven seismic acquisition programmes completed
- Obtained approval for development plans for Akzhar and Besbolek producing fields (Kazakhstan)
- Drilled 44 exploration and development wells with success rate of 86%
- 2007
- Acquired 100% interest in South Sotchemyu exploration block (Russia)
- Production reaches a new high of 11,800 bopd in Q4
- Exploration success at Alimbai, production commences
- 2006
- Acquired as operator 50% North Irael producing field (Russia)
- Acquired 100% interest in Alimbai and East Zharkamys III (Kazakhstan)
- Acquired 100% interest in Kymbozhyuskaya exploration block (Russia)
- Expanded Akzhar field to 71.5 sq km from 3.8 sq km
- Transitioned to main market of TSX from TSX Venture
- 2005
- Acquired 100% Altius Energy Corporation with assets in Kazakhstan
- Acquired 50% interest in RF Energy Investments Ltd with assets in Russia
- 2004
- Interest in Azerbaijan EDPSA secured through completion of minimum obligatory work programme
- 1998
- South West Gobustan EDPSA signed in Azerbaijan
