Centurion Law Group advises Panoro Energy on Tullow’s oil asset acquisition

Centurian storyAfrican law conglomerate Centurion Law Group has acted as local counsel to Panoro Energy ASA (Panoro) on the US$105mn purchase of all Tullow Oil PLC (Tullow) assets in Equatorial Guinea

The parties have signed a sale and purchase agreement, pursuant to which Tullow has agreed to sell its entire interest in Tullow Equatorial Guinea Limited.

“We are excited to have assisted Panoro Energy on this landmark Oil and Gas transaction,” said Manuel Oliveira, director and shareholder, who led Centurion’s EG deal team. 

This transaction, which forms part of Tullow’s US$180mn sale of assets to Panoro in West Africa, has been approved by the government of Equatorial Guinea. It is also a class 1 transaction under the UK listing rules and is subject to approval from both parties’ shareholders.

Panoro is an independent E&P company based in London and listed on the Oslo Stock Exchange with ticker PEN. The Company holds high quality exploration and production assets in Africa with oil production from fields in Tunisia, Gabon, Nigeria and now Equatorial Guinea.

“This was an exciting project and our team was able to seamlessly address the many and varied needs of Panoro,” said Oneyka Cindy Ojogbo. “This type of deal once again underscores Centurion’s ability to leverage our unparalleled energy industry experience to assist great companies in Africa,” concluded Ms Ojogbo.

Our team included partner Manuel Oliveira, senior associate Oneyka Cindy Ojogbo and associates Pablo Obama Mitogo Shantel Mufandiadza.

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