Dublin-based San Leon Energy
The company said in a statement it had opened a data room for prospective bidders and was in talks with several large E&P companies.
San Leon's London-listed shares traded up 12 percent at 11.33 pence at 08:52 a.m. BT.
The group did not say how much it expected to raise but such deals are usually cut on the basis that the purchaser agrees to cover all or part of the seller's share of field exploration and development costs.
From the early 1990s, a number of international oil companies including Chevron
In recent years a number of small explorers including PetroManas
The companies have cited multi-billion barrel potential reserves.
However, the U.S. government's Energy Information Administration records the country as having only 200 million barrels of proven reserves and the BP Statistical Review of World Energy ascribes no reserves to Albania.
Nonetheless, Canada's Bankers Petroleum
(Reporting by Tom Bergin; Editing by Mike Nesbit and Hans-Juergen Peters)