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Press Release

Fieldfisher advises Stifel on £15 million placing for Cluff Natural Resources



United Kingdom

Firm's equity capital markets team adds to tally of significant deals this year for AIM-listed oil and gas companies.

European law firm Fieldfisher has advised Stifel Nicolaus Europe Limited in its capacity as bookrunner on a £15 million placing for AIM-listed oil and gas company, Cluff Natural Resources PLC.

The capital raised from the placing, which was completed on 6 June, will be used to fund the drilling of two high impact wells at Cluff's licences in the southern North Sea and expand their portfolio in the basin.

The Fieldfisher team advising Stifel was led by corporate partner, Anthony Brockbank.

The Cluff placing was the latest significant fundraising deal for an AIM-listed oil and gas company the firm's equity capital markets (ECM) has advised on this year.

The team recently advised Mirabaud Securities in its capacity as sole bookrunner and broker on a placing to raise £12 million for AIM-listed oil and gas company, Block Energy plc.

In April, the firm advised brokers Mirabaud, Stifel and Cenkos Securities on a secondary placing to raise US$234 million (£178.7 million) for AIM-listed, US-based energy company, Diversified Gas & Oil plc (DGO).

Deal activity for London-listed oil and gas companies continues to be strong, despite a wider slowdown in the UK capital markets due in part to Brexit-related uncertainty.

Fieldfisher was recently ranked as a top three adviser to AIM-listed companies and the firm is also recognised as a leading provider of legal expertise to nomads, brokers and banks in their supporting roles on AIM transactions.

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