Pan-African law conglomerate, Centurion Law Group (www.CenturionLG.com) is pleased to have acted as local advisor to Panoro Energy ASA (Panoro) for the purchase of $ 105 million of all assets of Tullow Oil PLC (Tullow) in Equatorial Guinea. The parties have entered into a sale and purchase agreement under which Tullow has agreed to sell its entire interest in Tullow Equatorial Guinea Limited.
“We are delighted to have assisted Panoro Energy in this historic oil and gas transaction,” said Manuel Oliveira, Director and Shareholder, who led Centurion’s EG transaction team. “This was an important transaction that involved cooperation between experienced lawyers from Centurion and also the Panoro team.” Addition of M. Oliveira.
This transaction, which is part of the sale of Tullow assets for $ 180 million to Panoro in West Africa, has been approved by the government of Equatorial Guinea. This is also a Class 1 transaction under UK listing rules and is subject to approval by shareholders of both parties.
Panoro is an independent London-based E&P company listed on the Oslo Stock Exchange with the symbol PEN. The Company owns high quality exploration and production assets in Africa with oil production from fields in Tunisia, Gabon, Nigeria and now in Equatorial Guinea.
“It was an exciting project and our team was able to respond transparently to Panoro’s many and varied needs,” said Oneyka Cindy Ojogbo. “This type of agreement once again underscores Centurion’s ability to leverage our unparalleled experience in the energy sector to help large companies in Africa,” Ms. Ojogbo concluded.
Our team included Partner Manuel Oliveira, Senior Partner Oneyka Cindy Ojogbo and Partners Pablo Obama Mitogo Shantel Mufandiadza.
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