Memery Crystal advise on reverse takeover by Advance Energy

Advance Energy, the international upstream oil & gas company, have taken a 50% stake in Carnarvon Petroleum Timor, which is a subsidiary of ASX-listed Carnarvon Petroleum – operator of the Buffalo oilfield as part of the reverse takeover. The placing will fund the B-10 programme along with other costs related to the field.  This could be a highly lucrative investment for Advance Energy.

The Memery Crystal team was led by CEO Nick Davis and Director Melanie Talbot alongside Solicitor Oliver Perkins.

Commenting on the deal Melanie said:

“It was a pleasure to advise nomad and broker side on this transaction and we look forward to seeing Advance Energy expand through further strategic acquisitions for discovered oil projects. This transaction follows a very strong Q1 for Memery Crystal, particularly in the natural resources sector in which we advised on several fundraisings for our mining and energy clients.”

Memery Crystal is a recognised leader for its AIM work, acting for smaller to medium-sized companies as well as for their nominated advisers and brokers, with particular strength in transactions with an international dimension. The firm has been ranked “Band 2” for AIM work by the Chambers UK legal directory, and is ranked among the top two law firms in the most recent edition of the AIM Advisers Rankings Guide based on total number of AIM clients.