US oil and gas producer, Camac Energy, will list on the Johannesburg Stock Exchange (JSE), Africa’s biggest bourse, on Monday February 24 this year, it said on Friday.

The oil company, which has a primary listing on the New York Stock Exchange (NYSE), was granted a JSE listing of 1 088, 396, 226 shares, it emerged on Friday and the firm hopes to initially raise $50 million and $100 later.

Camac has operations in Africa’s biggest oil producer, Nigeria, Kenya, and Gambia.

Camac’s exploration and development activities pay more attention on the sub-Saharan Africa region. Camac listed on the JSE to raise capital because it believes sub-Saharan Africa has the world’s most productive and less developed petroleum systems.

The company wants to tap into unexplored and undeveloped regions in West and East Africa where many large oil and natural gas discoveries have been made in recent years.

The firm also wants to leverage its vast experience and contacts in Africa in the future.

Camac is a Delaware, U.S. corporation with principal executive offices in Houston, Texas.