US investment groups are racing to acquire underused Venezuelan oilfields after
a shift in US-Venezuela policy. Miami-based Lionheart Capital has signed a
letter of intent to merge shell company Lionheart Holdings with Keo Energy,
which holds Venezuelan oil assets; the deal would create the first
Venezuela-focused oil firm listed on Nasdaq and offer US and institutional
investors direct exposure. Lionheart aims for a post-deal listing valuation of
roughly $1bn; Lionheart Holdings raised $230m in 2024. Sources say talks are at
an early stage and may fail. Lionheart Holdings will hold a shareholder vote
next week to seek more time to find a target, otherwise it may face liquidation.
