Clifford Chance

Clifford Chance advises Salamander Energy plc on USD 200+ million rights issue

Leading international law firm Clifford Chance has advised FTSE 250 Salamander Energy plc on USD 200+ million rights issue.

‪Salamander Energy plc is an independent upstream oil and gas exploration and production business focused on South-East Asia listed on the London Stock Exchange.  The net proceeds of the Rights Issue will be used to maximise value from the existing focused portfolio in the Greater Bualuang Area in the Western Gulf of Thailand, the Greater Kerendan Area in the Barito Basin, Central Kalimantan, Indonesia and the North Kutei Basin in East Kalimantan, Indonesia.

"We're delighted to have worked with Salamander Energy on this potentially transformative transaction having worked with the Company since before its IPO in 2006," said natural resource focused partner David Lewis, who co-led the team on this deal along with US securities law partner Chris Walton. "It's great to have another oil and gas deal involving an independent under our belts in the same week [Clifford Chance advised Shell on the USD 1 billion + Cove Energy contested takeover that was recommended earlier this week].  To get the deal away in these markets is a real credit to Salamander's management team and its investment bank advisors."

David and Chris were supported by, senior associates Tony Lally and Arthur Levi and associates Alex Drysdale, Ben Morgan and Catriona Llanwarne.  Partner Merrick White and Counsel, Marc Rathbone based in Clifford Chance's Singapore office provided additional regional oil and gas sector expertise to the team.