Bounty Oil & Gas to acquire PetroQuest Liberia in deepwater Block LB-32 deal

โดย Offshore Technology·LRAU·Read original
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Bounty Oil & Gas has agreed to acquire PetroQuest Liberia Deep Water, giving the Australian company access to negotiations for a production sharing contract covering Block LB-32 offshore Liberia. PetroQuest holds a letter of engagement from the National Oil Company of Liberia granting the exclusive right to negotiate with the Liberia Petroleum Regulatory Authority, though Block LB-32 is not currently covered by a granted licence or an executed PSC. The acquisition is conditional on due diligence, shareholder and regulatory approvals, a capital raising of at least $2.13m, or A$3m, and either execution of the PSC or confirmation of a satisfactory route towards its grant, with all conditions to be satisfied or waived by 31 December 2026 unless the parties agree another date. Bounty has also received firm commitments for a placement of around A$3.55m, cornerstoned by Tribeca Investment Partners, L1 Capital Global Opportunities Master Fund and S3 Consortium, also known as Stocks Digital. Under the terms, Bounty will pay A$1.5m in cash and issue more than 863 million ordinary shares, plus 86.3 million shares linked to a previous exclusivity fee, while vendors may receive up to one billion performance shares tied to an independent report confirming at least 800 million barrels of P50 prospective resources and a geological chance of success of at least 30%, and to a binding farm-out agreement. Block LB-32 covers 2,322km² in Liberia's Harper Basin in water depths of roughly 1,500m to 4,200m, with about 656km² of 3D seismic data and 753 line-kilometres of 2D seismic data, and Bounty plans to license the data from TGS before completing its technical review.

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