Pan African Law Conglomerate, Centurion Law Group, has confirmed that it acted as local counsel to Panoro Energy on the $105 million segment of the purchase of all assets belonging to Tullow Oil Plc in Equatorial Guinea.
The parties recently signed a sale and purchase agreement, pursuant to which Tullow has agreed to sell its entire interest in Tullow Equatorial Guinea Limited.
The transaction, which forms part of Tullow’s $180 million 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.
The team from Panoro that negotiated the deal included partner Manuel Oliveira, Oneyka Cindy Ojogbo and associates Pablo Obama and Shantel Mufandiadza.
“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.
Also, in his words, “this was a significant transaction that involved cooperation between experienced attorneys from Centurion and also Panoro’s team.”
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, senior associate at Panoro.
“This type of deal once again underscores Centurion’s ability to leverage our unparalleled energy industry experience to assist great companies in Africa,” Ojogbo concluded.
Centurion Law Group is a pan-African corporate law conglomerate, with a specialized focus on cross-border business and energy law.
It prides itself in helping its clients navigate the legal and regulatory environments of Africa’s many jurisdictions, while ensuring that “deals are done and completed as efficiently and cost-effectively as is possible.”
