NORTH Sea-focused Longboat Energy has completed a stock market flotation. Trading in Longboat Energy’s shares began on the Aim market yesterday.

Former Faroe Petroleum bosses win investor backing for North Sea acquisitions

Founded by former directors of the Faroe Petroleum business that succumbed to a hostile £640m takeover by Norway’s DNO in January, Longboat expects to develop a significant business helped by acquisitions.

Oil and gas heavweight has 'unfinished business' in North Sea

Its chairman Graham Stewart led Aberdeen-based Faroe’s drive to develop significant operations in the UK and Norway. Longboat raised £10m at 100p per share from investors. Its shares closed at 99.5p on Aim yesterday.