Oilman seeks £33m

Michael Garland plans to raise some £33 million on AIM for Tanzania-focused Dominion Petroleum.

Backed by a group of US and other investors with local knowledge and influence, Dominion has three production sharing agreements with the Tanzanian government over areas with claimed potential resources of 1.4 billion barrels of oil equivalent or 104 million barrels ‘on a risked basis’.

The agreements cover four onshore licences in Mandawa, Kisingire, Lukuliro and Selous and the company hopes to start drilling towards the end of this year.

Garland, a former commercial director at fully-listed gas storage group Star Energy, is chief executive of Dominion, whose chairman is Roger Cagle, deputy chief executive of energy group SOCO International. Non-executive director Daniel Yona, meanwhile, was Minister of Energy in the Tanzanian government from 2000 to this year.

Leslie Copeland

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...

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