Womble Bond Dickinson has advised Third Energy Holdings Ltd on the divestment of the entire issued share capital of Third Energy Offshore Ltd to Anglo-Dutch oil company Hague and London Oil plc (HALO).
The Southern North Sea-focussed company, with a diverse portfolio of offshore and onshore producing, development and exploration assets said in a press release that it had received all required regulatory consent for its acquisition.
The Oil and Gas Authority (OGA) approval of the change of control of TEOL will allow the transaction to continue through formal completion.
As previously announced, consideration for the acquisition is made up of 19.25% of the postcompletion share capital of Halo. TEOL’s portfolio includes interests in the Greater Pegasus Area (45%), and the high impact Andromeda prospect in the Southern North Sea.
WBD has advised Third Energy Holdings Ltd on the deal with a team led by corporate partner Simon Hewes (picture), working closely with head of oil and gas, partner Paul Stockley. The core members of the WBD team were oil and gas solicitor Richard Forgan, corporate solicitor Joanna Norris, tax managing associate Ronan Lowney and banking managing associate Tom Caplen (Banking).
Involved fees earner: Paul Stockley – Bond Dickinson; Tom Caplen – Womble Bond Dickinson; Richard Forgan – Womble Bond Dickinson; Simon Hewes – Womble Bond Dickinson; Ronan Lowney – Womble Bond Dickinson; Joanna Norris – Womble Bond Dickinson;
Clients: Third Energy Holdings Ltd;