FW advised Cap Energy Limited, a company listed on the ISDX Growth Market focused on upstream oil and gas exploration in sub-Saharan Africa, on its recent acquisition of a majority stake in Sphere Petroleum Corp. (BVI) (“Sphere BVI”) from Sphere Petroleum QSC which retained a minority holding. Sphere BVI holds interests in two offshore Guinea-Bissau oil and gas exploration licences. The transaction represented Cap’s first asset acquisition since the company’s restructuring in 2012.
Head of Capital Markets Richie Clark led the FW team on the transaction, principally assisted by corporate associate Sharon O’Donnell.
Tim Hearley, Cap’s Chairman, commented, “This acquisition in Guinea-Bissau marks a significant first step in achieving our strategic objectives. We are very pleased with this development and are on track to further broaden our presence in the sub-Saharan region as we expand our portfolio.”
Richie Clark commented: “We are very pleased to have assisted Cap Energy on this strategic first acquisition and look forward to working closely with the Cap team during the next stage of the company’s growth.”