Ashurst is advising Rockhopper Exploration plc in relation to its agreement to sell its subsidiary company Rockhopper Egypt Pty Limited to United Oil and Gas plc for total consideration of US$16 million.
The company being sold is an oil and gas company incorporated in Australia which owns a 22% working interest in the Abu Sennan concession in Egypt.
The transaction is subject to satisfaction of customary conditions precedent including United shareholder approval, completion of the readmission of United to trading on AIM and receipt of Egyptian government approvals.
Rockhopper Exploration PLC is an oil and gas exploration company headquartered in Salisbury, Wiltshire, United Kingdom. It owns offshore exploration and production licences in the North Falkland Basin in the waters north of the Falkland Islands. Rockhopper is listed on the Alternative Investment Market of the London Stock Exchange.
United Oil & Gas is an independent oil & gas start-up established in 2015.
Corporate partner Nick Williamson (Picture) is leading the Ashurst team, which also includes senior associate Grace Rackham and associates Lester Lim Kok and Kiara De Silva. Partner Nicholas Gardner and associate Martin Voelker advised on tax matters. Partner Murray Wheater and associate Jodi Ofchinsky advised on Australian corporate matters.
Involved fees earner: Kiara De Silva – Ashurst; Nicholas Gardner – Ashurst; Lester Lim Kok – Ashurst; Jodi Ofchinsky – Ashurst; Grace Rackham – Ashurst; Martin Voelker – Ashurst; Murray Wheater – Ashurst; Nick Williamson – Ashurst;
Law Firms: Ashurst;
Clients: Rockhopper Exploration plc;