Baker & McKenzie Advises IPB Petroleum Limited on its ASX Listing
03 May, 2013
Baker & McKenzie acted for IPB Petroleum Limited (ASX: IPB) on its listing on the Australian Securities Exchange (ASX).
IPB is an oil and gas exploration company with an interest in petroleum exploration licences located in the Browse Basin, offshore North West Australia. IPB chose to list on the ASX in order to expand its opportunities for growth, to provide access to funding for the continued exploration and potential development of its assets, and to provide access to liquidity for its shareholders.
The Baker & McKenzie team was led by senior associate Yasmine Gardner and partner Richard Lustig. Baker & McKenzie has acted for the company for several years on various corporate matters, including the farmout of an interest in its key asset to CalEnergy Resources (Australia) Limited in 2012.
Commenting on the transaction, Baker & McKenzie senior associate, Yasmine Gardner said “The listing of IPB on ASX is one of very few new listings to take place this year, amidst a climate of continued market uncertainty. Part of the reason the company was able to achieve a listing was due to its ability to conclude a farmout of an interest in its main asset, and secure funding for the drilling of its first well, prior to listing.