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Date: Friday 18 Jul 2008

LONDON (ShareCast) - Resaca Exploitation braved current market turmoil by listing in London Thursday and has, so far, managed to keep its head above the issue price.

The independent oil and gas company based in Texas raised £53.3m as part of its float on the junior AIM market, of which £42m went to the company and £11.2m to selling shareholders.

It offered shares at 130p each, valuing the business at just under £120m.

There have been few listings over the past couple of months, but £28m telecoms project management outfit Norcon wants to join AIM on 28 July.

It is the holding company for Norconsult Telematics Limited, a project management and outsourcing services company focused on telecoms and information technology systems.

Thalassa Energy also declared its intention to list over here, looking for a valuation around $8.5m when it starts trading, expected to be on the 29th of this month.

The firm was set up to buy marine seismic equipment, specifically a Portable Modular Source System, which allows oil companies to perform reservoir monitoring.

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