Crown Energy was established in 2010, registered as a public company in September 2011 and listed on NGM Equity in December 2012. The company operates in two business segments: Asset Development and Management, and Energy. The Asset Development and Management segment operates 31,683 sqm of leasable area across 16 properties in Luanda, Angola, while the Energy segment holds four oil and gas exploration licenses in South Africa, Equatorial Guinea, Madagascar and Iraq.
Crown Energy holds exploration assets that could see significant upside if the exploration turns out successful. In such case, we expect the company to seek to monetise the assets through divestitures. The near-term focus is directed towards the drilling of Block 2B, which holds gross prospective resources of 376 mill boe where Crown Energy holds a 10% carried interest.
Crown Energy is exposed to adverse movements in oil and gas prices. Furthermore, there are risks relating to the monetisation of the company’s exploration assets through divestiture. Another risk is economic conditions in Angola. The reported currency is SEK and consequently Crown Energy is exposed to adverse currency fluctuations.