TBNG Limited’s Acquisition Of Onshore Producing Gas Assets From Valuera Energy


Locke Lord LLP advised TBNG Limited on the deal.

TBNG Limited, an investment vehicle of Hannam Investments, the investment office of Mr. Ian Hannam, announced its acquisition of onshore producing gas assets from Valeura Energy. The assets, located in the Thrace Basin of Turkey, will be purchased for a cash consideration of $15.5 million plus royalty payments of up to an additional $2.5 million. The deal involved a mix of equity investment and an acquisition finance facility, and Locke Lord is acting for the client as buyer, borrower and equity issuer.

Valeura Energy Inc. operates as an exploration company. The Company engages in the development and production of petroleum and natural gas. Valeura Energy focuses on growing its resource base and production in the Thrace Basin in Northwest Turkey.Valeura Energy Inc. operates as an exploration company. The Company engages in the development and production of petroleum and natural gas. Valeura Energy focuses on growing its resource base and production in the Thrace Basin in Northwest Turkey.

The Locke Lord team was led by Kevin Atkins (Picture) and Matt Daffurn and also included Nick Dent, Nick Jennings and Anastasia Demetriou.

Involved fees earner: Kevin Atkins – Locke Lord; Matthew Daffurn – Locke Lord; Anastasia Demetriou – Locke Lord; Nicholas Dent – Locke Lord; Nicholas Jennings – Locke Lord;

Law Firms: Locke Lord;

Clients: TBNG Limited;

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