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Press Release
WFW advises Oriel Securities Limited and Tristone Capital Limited on Valiant Petroleum plc’s admission to AIM and £50 million fundraising
14 March 2008
Watson, Farley & Williams LLP (“WFW”) has advised Oriel Securities Limited (“Oriel”) as nominated adviser and broker and Tristone Capital Limited (“Tristone”) as global bookrunner and broker on the AIM IPO of Valiant Petroleum plc (“Valiant”).
Oriel and Tristone placed 6,666,667 ordinary shares at a price of £7.50 per share with UK and international institutional investors to raise £50 million before expenses. Valiant intends to use the funds (together with existing debt facilities) to reach first production on the West Don and Don South West fields and fund its 2008 drilling program and approved 2008 budgets for the Crawford and Causeway fields.
Jan Mellmann, head of the International Corporate Group, led the team for WFW and was assisted by Chris Kilburn, Gareth Burge and Ravinder Sandhu.
Jan Mellmann commented: “We are very pleased to have acted for Oriel and Tristone on this extremely successful transaction. This shows that, even in very difficult market conditions, money remains available for the right companies and projects."
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For further information, please contact:
Christopher Bane, PR and Communications Manager
London Office
Tel: 020 7814 8083
E-mail: cbane@wfw.com
Editors Notes:
1. Watson, Farley & Williams is an international law firm with offices in London, New York, Paris, Rome, Athens, Piraeus, Hamburg, Singapore and Bangkok. The firm currently has 200 lawyers and over 350 staff.
Chris Kilburn, London
Gareth Burge, London
Jan Mellmann, London
Ravinder Sandhu, London
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