Jadestone Energy Inc’s acquisition of the Montara oil project

Gilbert + Tobin advises Jadestone Energy on its acquisition of the Montara oil project and US$120 million senior secured RBL debt facility

Jadestone Energy Inc. (AIM: JSE, TSXV:JSE) (Jadestone) on its acquisition of the Montara oil project (Montara) from PTT Exploration and Production Company Limited (PTT) which completed on 28 September 2018.

In connection with the Montara acquisition and future funding requirements, Gilbert + Tobin also advised Jadestone on a US$120 million senior secured RBL debt facility provided by Commonwealth Bank of Australia and Société Générale (RBL Facility) and Australian law aspects of Jadestone’s US$110 million equity raising and listing on the AIM Market of the London Stock Exchange (AIM).

Jadestone is an independent oil and gas company focussed on the Asia Pacific Region. It is listed on the TSXV and AIM and owns oil and gas production, development and exploration assets in Australia, Vietnam and the Philippines, including a 100% operating interest in the Stag project located offshore Australia.

Jadestone Energy Inc. operates as an oil and gas exploration and production company. The Company, led by A Paul Blakeley, Daniel Young and Michael Horn, focuses on the evaluation, acquisition, exploration, and development of oil and gas properties. In 2017, Jadestone Energy Inc. recorded C$47 Million Revenues.

The transaction was led by Corporate Advisory Partner Ben Macdonald (Picture), Senior Lawyers Tim Kennedy and Christopher Marchesi and Graduate Kay Huang. Banking + Infrastructure Partner Simon Lynch and Senior Lawyer Jeff Browne advised on the RBL Facility and Real Estate + Projects Partner Ben Fuller advised on the environmental aspects of the transaction. Tax Partner Muhunthan Kanagaratnam, Special Counsel Adam Musgrave and Tax Consultant Julian Lian provided tax advice on aspects of the transaction.

Involved fees earner: Ben Macdonald – Gilbert + Tobin; Tim Kennedy – Gilbert + Tobin; Christopher Marchesi – Gilbert + Tobin; Simon Lynch – Gilbert + Tobin; Jeff Browne – Gilbert + Tobin; Ben Fuller – Gilbert + Tobin; Muhunthan Kanagaratnam – Gilbert + Tobin; Adam Musgrave – Gilbert + Tobin; Julian Lian – Gilbert + Tobin;

Law Firms: Gilbert + Tobin;

Clients: Jadestone Energy Inc. ;

Author: Michael Patrini