15 July 2008
15 July 2008 - Leading international law firm Mayer Brown has advised Kappa Energy Holdings Ltd in connection with its sale to Pacific Rubiales Energy Corp (a TSX listed company) for $168 million.
Kappa is the largest independent oil and gas exploration and production company in Colombia. It holds exploration and production licenses onshore in Colombia where it has been operating since 1997. It has gross acreage of 747,000 which consists of nine leased blocks in several basins.
The Mayer Brown team working on the deal included corporate partner Robert Hamill, finance partner Nigel Wright and tax partner Andrew Stanger (all in London) along with partners Bob Gray, Kevin Shaw and Bill Knull (in Houston) and Jim Barry (in Chicago).
Closing of the transaction is subject to competition law approval in Colombia which is expected to be forthcoming in early September 2008.
Robert Hamill, corporate partner at Mayer Brown's London office said: "Our on the ground presence in London and also in Houston enabled us to provide the solutions for this sale."
Bob Gray, corporate partner at Mayer Brown's Houston office added: "Colombia is widely regarded as the one of the most attractive places in Latin America to invest due to its political stability and favourable tax and royalty regime for oil and gas companies."
For further information:
PR Manager, London
+44 20 7782 8547
+44 20 7782 8558