--- title: "1947 Oil & Gas Joins AIM at £65m Valuation After Renaissance Acquisition" publisher: "Share Talk" author: "sharetalk" published: "2026-09-28T07:11:46+00:00" modified: "2026-09-28T07:11:46+00:00" date: 2026-09-28 canonical: "https://www.share-talk.com/1947-oil-gas-joins-aim-at-65m-valuation-after-renaissance-acquisition/" category: "Energy" categories: ["Energy"] tags: ["1947", "1947 Oil & Gas plc", "AIM Market", "gas", "London Stock Exchange", "oil", "Renaissance Offshore LLC"] image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/09/edf705d4-84a0-4440-b1de-b4aee5764b47.png?fit=1727%2C911&ssl=1" format: "news" language: "en-GB" --- # 1947 Oil & Gas Joins AIM at £65m Valuation After Renaissance Acquisition **Published:** September 28, 2026 **Author:** sharetalk **Categories:** Energy **Tags:** 1947, 1947 Oil & Gas plc, AIM Market, gas, London Stock Exchange, oil, Renaissance Offshore LLC **Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/09/edf705d4-84a0-4440-b1de-b4aee5764b47.png?fit=1727%2C911&ssl=1) --- [1947 Oil & Gas plc began trading on AIM on Monday](https://www.investegate.co.uk/announcement/rns/1947-oil-gas-plc--1947/admission-to-aim-and-first-day-of-dealings/9792812) with an implied market capitalisation of about £65.1 million at its 10p issue price, following completion of its acquisition of [US producer Renaissance Offshore.](https://www.share-talk.com/1947-oil-gas-plc-confirmation-of-intention-to-float-on-aim/) The **£65.1 million valuation** is calculated from the company’s 651.051946 million shares in issue following admission, multiplied by the** 10p issue price**. That is separate from the **£50 million aggregate value of the 500 million new shares issued as part of the admission**. Of those, 202.5 million shares were issued to the Renaissance vendor as acquisition consideration and **297.5 million placing shares** were issued to new investors. It is also distinct from the **$65 million headline consideration for the Renaissance acquisition**. Houston-based Renaissance owns interests in **11 producing fields in the shallow-water Gulf of America**, giving 1947 an immediate production and cash-flow base from which it intends to acquire further mature conventional assets. Independent reserve auditor NSAI has certified **15.0 million barrels of oil equivalent of 1P net reserves and 19.7 million boe of 2P reserves**. The 2P reserves have an estimated **PV10 of $346 million**, before US federal income taxes and after estimated abandonment costs, using forward commodity prices as of May 15, 2026. That compares with headline acquisition consideration of **$65 million**. Net proceeds from the placing, together with remaining funds from an earlier pre-IPO raise, will be used primarily to fund the cash element of the Renaissance acquisition, with the balance allocated to working capital and admission costs. 1947 said it will initially be **debt free and without fixed-price commodity contracts**, giving the company direct exposure to prevailing oil and gas prices. The management team includes executive chairman **Tim Duncan**, founder and former chief executive of Talos Energy, alongside co-founders **Jeff Currie**, formerly Goldman Sachs’ global head of commodities research, and **Ivan Murphy**, a founder of Cove Energy. The company intends to pursue further producing assets around the Gulf, targeting mature fields it believes are undervalued despite their cash-generating potential. 1947 also plans to introduce a **progressive dividend policy**, with its first interim dividend intended to follow publication of results for the six months ending **30 June 2027**. For investors, the important comparison is therefore between a **£65.1 million post-admission equity valuation**, a **$65 million acquisition price** and Renaissance’s stated **$346 million 2P PV10**. The next evidence required will be production rates, operating costs, free cash flow and abandonment liabilities, which will determine how much of that apparent reserve-value discount can actually be realised. **Investor takeaway: ***1947 Oil & Gas is arriving on AIM with an immediate producing asset base rather than an exploration story, acquiring Renaissance Offshore for headline consideration of $65 million against independently certified 2P reserves with a $346 million PV10. Its £65.1 million opening valuation reflects the enlarged share capital at the 10p issue price, rather than the value of the acquisition itself.* --- **Original URL:** https://www.share-talk.com/1947-oil-gas-joins-aim-at-65m-valuation-after-renaissance-acquisition/ *Created by [WP Markdown Endpoint](https://wpmarkdownendpoint.com/)*