LAB Recently Announced/Completed Transactions
LAB Energy has broad international M&A and A&D experience in transactions including corporate sales/mergers, production divestments, development sales and exploration farm-outs as well as buyside advisory support. Below are some examples of recently announced transactions.
LAB Energy Advisors assisted CPT on their recently completed €23.7 million Series A2 funding round. The round attracted significant new industrial investors led by Taranis Carbon Ventures, and including CRH Ventures and BlueScopeX and was supported by its existing shareholder base Eni Next, NEVA SGR and Audacy Ventures.
LAB Energy acted as exclusive sell-side advisor to Rhino Resources Ltd., assisting with the farm-out of an interest in Block 2914A (PEL 85), situated in the Orange basin, offshore Namibia. Azule Energy, a BP and Eni JV, will farm-in to the block and acquire a 42.5% interest. The parties will drill two exploration wells commencing Q4 2024.
LAB Energy acted as sell-side advisor to Africa-focussed Chariot Energy, for the farm out of their Lixus and Rissana interests. The deal is comprised of cash on completion, a carry on appraisal activity and a further cash bonus at FID. At FID Energean can exercise an option to acquire an additional 10% in Lixus in return for a (recoverable) carry on future development capex, a cash or equity bonus and a gas royalty payment.
LAB Energy acted as sell-side advisor to ADX Energy Ltd, an ASX listed European focused oil and gas production and exploration company with assets in Austria, Romania, and Italy. ADX signed a farm out agreement with MND Energy to partially fund the drilling of the Anshof prospect.
LAB Energy acted as sell-side advisor to Hartshead Resources for the farm out of UKCS licence P2607 to Rockrose Energy (part of the Viaro Energy Group). The multi-phase development project targets material gas resources proximal to existing infrastructure. The AUD $196MM deal is comprised of past costs, promote and milestone bonus payments.
LAB Energy acted as sell-side advisor to ASX listed ADX Energy Ltd. Kepis and Pobe, a leading Canadian energy finance and development group, has, via MCF Energy, farmed in to the Welchau exploration area onshore Austria, committing to fund 50% of well costs to earn a 20% participating interest.
LAB Energy assisted Cool Planet Technologies (CPT) in its €3 million series A capital raise resulting in investment from Eni Next, Audacy Ventures and Neva SGR. Capital raised will be used to progress the demonstration plant of CPT’s PolyActive™ membrane-based carbon capture technology at Holcim’s Höver cement works, near Hannover in Germany
LAB Energy acted as sell-side advisor to ADX Energy Ltd in its farm out to ASX listed Xstate Resources. Xstate will fund 40% of the Anshof exploration well to earn a 20% equity interest in the Anshof Prospect Area.
