Thomson Geer advises Carnarvon Energy Limited on their A$89M investment into Strike Energy Limited
Thomson Geer has advised ASX-listed oil and gas explorer Carnarvon Energy Limited (ASX:CVN) on its $89 million investment into ASX-listed Strike Energy Limited (ASX:STX). This deal will see Carnarvon acquire a stake of up to 19.9 per cent in Strike at $0.12 per share through a two-tranche placement, becoming Strike's largest shareholder.
Their investment in Strike will provide Carnarvon with exposure to Western Australia's domestic gas and electricity markets amid a backdrop of rising demand in gas and energy, and allows them to preserve full exposure to their Bedout Sub-basin portfolio.
Thomson Geer advised Carnarvon on all legal aspects of the transaction.
The newly acquired funding will allow Strike to unlock substantial value from its high-quality gas portfolio, spanning production, development, and exploration assets. This includes delivering the South Erregulla gas power project and the planned life extension of the Walyering domestic gas project.
The Thomson Geer team was led by Partners Scott Gibson and Michael Ng, with assistance from Senior Associate, Kajal Parmar.
%402x.svg){kind=icon}
%402x.svg){kind=icon}
Keep
learning
.svg){kind=icon}
About us
Thomson Geer acknowledges the Traditional Custodians of Country throughout Australia and their connections to land, sea and community. We pay our respect to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.