Dublin-based San Leon Energy, an international oil and gas explorer with a portfolio of assets in the US, Morocco and the Netherlands, has joined AIM in a move that values the company at £100 million.

Dublin-based San Leon Energy, an international oil and gas explorer with a portfolio of assets in the US, Morocco and the Netherlands, has joined AIM in a move that values the company at £100 million.

While the company didn’t raise any new cash on admission, chairman Osin Fanning, an Irish entrepreneur who led telecoms company Smart Telecom, says that the AIM listing would give the company access to capital for making future acquisitions.

San Leon claims a prospective resource of 196 million barrels and has a 0.6 per cent royalty on the Dutch Amstel field, which Fanning suggests could yield more than £2 million a year net as of 2010.

WhitneyMoore acted as legal counsel to San Leon. Therese Rochford, head of corporate led the team, assisted by Roisin Caulfield and Brendan Ringrose. Rochford said: “WhitneyMoore has acted for San Leon for a number of years, and has watched it expand into an international group of companies. An admission to AIM was the next logical step for San Leon to enhance the group’s profile, and to provide access to further capital to develop the group’s assets further.”

LHM Casey McGrath, Chartered Certified Accountants acted as reporting accountants and tax adviser in respect of the AIM introduction.
Moroccan office of the French law firm UGGC & Associés provided San Leon with legal expertise on oil and gas exploration permits and documentation. The team was led by Patrick Larrivé, partner, head of the Casablanca office and of activities within the Africa and Middle East area, assisted by Nadia Médiaz, associate. Larrivé is also registered with the Paris Bar.

Legal firm CMS Derks Star Busmann advised San Leon on Dutch mining legislation, editing parts of the admission document and issuing a legal opinion and comfort letter with respect to the Dutch assets. Martika Jonk, energy partner from CMS’ Amsterdam office, led the team.