Corre Energy has said it plans to delist from the Irish stock market.
The company said it is proposing to drop its listing from Euronext Growth, adding that it will be posting a circular to shareholders next week.
In a statement, Corre Energy said it has conducted a thorough review of the merits of continuing with its listing.
"The Board believes that cancellation will be in the best interests of the company and all its shareholders," it said.
In reaching this decision, the board considered a number of key factors.
"Management has identified potential funding solutions for the portfolio going forward which is outside the public markets," the company said.
"The Board believe that maintaining a listing on Euronext Growth is unlikely to offer the most effective or cost-efficient path to securing this funding."
The Board also believes it is more "appropriate" and "practical" to undergo any further changes required to its operating model outside the constraints of market announcement obligations and confidentiality constraints.
"Given its current constrained financial capabilities the Directors believe the time and resources associated with maintaining the company's public listing would be better utilised to maintain and invest in its existing projects," it said.
The company said the Board believes there is "considerable" support in the company's shareholder base for a delisting.
The delisting can only take place after securing the resolutions of shareholders in a general meeting passed by no less than 75% of the votes cast by shareholders.
The Extraordinary General Meeting, where the resolution will be proposed, will take place in the Netherlands on 20 March.
