20 Jul 2012

Clayton Utz advises Nido Petroleum on $US30 million facility

Perth, 20 July 2012: Clayton Utz has advised Nido Petroleum Limited and its subsidiaries on its senior secured borrowing base facility of up to $US30 million provided by Standard Bank.

Clayton Utz Banking partner Rohan Mishra led the firm's team, which included senior associate Kate Casellas and lawyer Amanda Bedford.

The facility will fund a significant portion of Nido Petroleum Limited's share of funding for the Galoc oil field Phase II development, located in the offshore North West Palawan Basin in the Philippines.

Lead partner Rohan Mishra said the transaction reflected the ability of oil and gas exploration and production companies to secure funding on attractive terms for projects, despite the current uncertain market conditions for financing.

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