Falcon Oil & Gas has applied for admission to trading on the London Stock Exchange and the Irish Stock Exchange and the placing of $25 million.

The global energy company this morning said it believes listing on AIM and ESM would give it access to additional sources of finance, to fund growth in the future, including work in Australia and South Africa.

The company currently has four exploration permits covering approximately 7 million acres in the Beetaloo Basin in Australia, and a technical Cooperation permit covering approximately 7.5 million acres onshore at the Karoo Basin in South Africa.

“We feel that this is the right time to bring the Company to AIM and ESM in order to further support the next stage of Falcon’s development,” chief executive Phillip O’Quigley said.

The Canadian-listed company is headquartered in Dublin, with a technical team based in Budapest, Hungary.