Originally trading as Microcap Equities plc, in December 2009 the shareholders voted to introduce new investment, to change its strategy, and to re-name the company DEO Petroleum plc.

At the same time, a management team of experienced petroleum executives was recruited to lead the company in a new direction. This team has worked together over a number of years and has a proven track record in delivering innovative and integrated solutions for small field developments. There is also considerable North Sea Asset Management experience within the group and the team has a strong technical base.