Anzon prospecting for stock exchange listing

By CHRIS DANIELS energy writer

After 10 years of sitting on the shelf unloved, former 80s sharemarket darling Anzon is just weeks away from being relisted on the New Zealand Stock Exchange.

Now known as Anzon Energy, the company is about to start drilling for oil in Indonesia.

Chief executive Steven Koroknay said the "listing profile" - the application for relisting - would be submitted this week.

A listing profile is similar to a prospectus but with less stringent requirements, because no money is being raised.

It will detail the history of the company and the people involved.

Mr Koroknay said he had been told that the exchange could take three weeks to approve the relisting.

He said Anzon expected to be drilling its first well in November.

Anzon first listed in 1985, describing itself as an investor in "speciality product markets".

Its major shareholder was Chase Corporation, the property company that collapsed after the 1987 sharemarket crash.

Anzon was ignominiously delisted in 1990 after failing to pay its listing fees.

Now, as a "clean shell" company with 3300 shareholders, Anzon is ready to venture into the international oil business.

Anzon management plan to re-work oil wells in Indonesia, in proven fields that have been abandoned by the big oil companies.