HFW Advises Niel Petroleum on Share Acquisition

Lawfuel.com – Best Law Newswire – HFW advises Niel Petroleum on US$25 million share acquisition International law firm Holman Fenwick Willan recently advised Niel Petroleum S.A. (Niel), a junior oil and gas company incorporated and headquartered in Luxembourg, in relation to the proposed issue to Niel by New World Oil and Gas Plc (NWOG), the oil and gas operating company currently focused on Belize and Denmark, of 2,184,897,959 shares (the Shares) and the provision of a loan.


The agreed financing package consists of an aggregate consideration of US$25 million for the proposed issue of the Shares and a related proposed loan of US$25 million to be made available by Niel to NWOG to finance certain oil and gas projects which Niel approves from time to time. The proposed deal reflects Niel’s strategy to develop a large and diversified portfolio of early stage oil and gas assets principally in Africa, and its intention to grow its business both through organic growth and investment in companies, such as NWOG, which could be based in Africa, Europe or Central America.

An Annual General Meeting of NWOG is to be held on 12 September 2013, at which the resolution required to approve the proposed issue of the Shares to Niel will be sought. The announcement of the proposed deal, which was made on 21 August 2013 and contains more details and background to the deal, has been posted to NWOG’s website: http://www.nwoilgas.com/files/4713/7708/1029/Niel_Petroleum_21._08._13_FINAL.pdf.

HFW’s international team was led by Partner James Lewis with assistance from Diana France (Partner), Peter Emery (Senior Associate) , Spencer Gold (Senior Associate) , Sharif Abousaada
Sharif Abousaada


Tel: +33 1 44 94 40 50
(Associate), and Joseph Botham (Associate).

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