Oil and gas advisory team assists in sale of Zennor

The Challenge Energy oil and gas advisory team is pleased to have assisted Zennor Petroleum (formerly MPX E&P) in its sale to Kerogen Capital and subsequent capital injection.

The team has been working alongside MPX over a number of years on infrastructure commercial discussions on its assets, and more recently this capital raising exercise. The Zennor announcement is shown below, and in the following link: http://www.zennorpetroleum.com/ Acquisition of Zennor Petroleum and investment by Kerogen Capital 17th August 2015 We are pleased to announce the completion of the acquisition of Zennor Petroleum Limited (“Zennor”) (formerly MPX E&P Ltd) and its subsidiaries by a newly incorporated entity controlled by Kerogen Capital (“Kerogen”). Kerogen is an independent private equity fund manager focussed on the international oil and gas sector with approximately US$1.6 billion in invested and committed capital. This is Kerogen’s first investment from its third managed fund, Kerogen Energy Fund II L.P. The Fund has made an initial commitment of US$100 million to Zennor which will be used to fund the Company’s existing assets and to expand the portfolio by way of new acquisitions, farm-ins and licencing rounds. Zennor’s existing portfolio includes a 100% interest in the Finlaggan gas-condensate discovery in the Central North Sea, and the focus going forward will be on the commercialisation of discovered resources. In completing this deal the Company was advised by Bond Dickinson, with Challenge Energy Ltd and MHW Associates Ltd acting as transaction co-advisors. For further information contact: Nick Hooke or Phil Marlow