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1 July 2013 – The London office of international law firm Locke Lord has advised Rialto Energy Limited, an oil and gas exploration and production company, on a A$14.1 million share placing to raise funds for continued and additional oil and gas exploration and development in Cote d'Ivoire, West Africa. Locke Lord London Partner James Channo advised on the accelerated cross-border bookbuild, which will allow Rialto to progress its operations in Cote d'Ivoire and concentrate on finalising discussions with the Government of the Cote d'Ivoire regarding amending certain licence conditions. Rialto Energy is also seeking to complete the transaction with Vitol in respect of Vitol's equity participation in Rialto Ghana and Rialto Cote d'Ivoire which hold the Accra Block and Block CI-202 respectively.
Rob Shepherd, Managing Director of Rialto Energy commented: "We are pleased to have worked with James Channo's team at Locke Lord who were efficient and knowledgeable and helped manage this cross border transaction to a successful conclusion in these difficult markets."
The second tranche of the placing, which is subject to shareholder approval, is expected to close in early August.
Channo was assisted by Locke Lord London corporate lawyer Nicole Lyons. GMP Securities Europe LLP and Euroz Securities Limited acted as joint bookrunners for the placing.
Locke Lord LLP consistently ranks among American Lawyer's top 100 U.S. law firms. The Firm's full range of practice and industry areas serve international and national clients from offices in Atlanta, Austin, Chicago, Dallas, Hong Kong, Houston, London, Los Angeles, New Orleans, New York, Sacramento, San Francisco and Washington, D.C. It has an excellent reputation in complex litigation, regulatory and transactional work, with its 650-plus lawyers building collaborative relationships and crafting creative solutions – all designed and executed to meet clients' long-term strategic goals.
Channo can be reached at +44 (0) 20 7861 9042 or firstname.lastname@example.org.