Gilbert + Tobin is pleased to have advised 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.
The transaction was led by Corporate Advisory Partner Ben Macdonald, Lawyers Tim Kennedy and Christopher Marchesi and Graduate Kay Huang. Banking + Infrastructure Partner Simon Lynch and 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.
Ben Macdonald said, “We are delighted to have assisted Jadestone on another strategically important transaction. The transaction is particularly significant as it included a successful US$110 million equity raising and AIM listing, a US$120 million RBL facility and an innovative transaction structure for transfer of the petroleum titles and operatorship. It was a terrific experience working closely with Jadestone’s first rate team on this transaction and we look forward to continuing to support Jadestone.”