Nordic Energy, the investment vehicle focused on energy companies operating in the North Sea and in Northern Europe, has started trading on PLUS but with no assets to speak of other than cash at the moment, the investment appeal is strictly down to the reputation of directors Rudolf Kleiber and Patrick Rocholl.

Both Klebier and Rocholl have significant experience in the oil and gas sector, specifically in the Nordic region, and will look to make use of their extensive contacts to identify profitable opportunities in a politically stable part of the world where the infrastructure is already in place and the tax regimes are reasonably favourable.

Licences can generally be acquired easily and quickly from governments based on a negotiated work programme, the company asserted, and while the area is considered mature from an exploration and production point of view, new initiatives have resulted in significant reserve additions and large new prospect types.

"Shallow water depths and proximity to markets and infrastructure means that even small discoveries have a high value and can be quickly developed using standardised off-the-shelf platform designs that require relatively small investment," the company said.

JH

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