Expert Petroleum gets USD 25 million for oil and gas field rehabilitation

The USD 25 million staged equity investment will fund further appraisal, work over and drilling activities on the Romanian company's assets. According to company information, Lime Rock's financial commitment to Expert Petroleum will be phased in over the next two years as needed.”For the last five years, we have carefully assembled and conducted in-depth technical analysis and appraisal activities on our oil and gas properties in Romania, fields that are well suited to our strengths in mature asset rehabilitation. The capital from Lime Rock will fund our future development costs,” said David Martinon, founding partner and managing director of Expert Petroleum. The firm was founded by Martinon and Michel Louboutin, as part of NT&S Energy, a holding company of a group of specialized international oil and gas companies with operations in the Middle East, North Africa, Eastern Europe and North America. The company is currently developing eight sites around the Carpathian Basin, Transylvanian Basin and Moesian platform. Almost all of its projects are located in fields that previously produced oil or gas. Lime Rock manages USD 3.9 billion of capital for investment in the energy industry.
Dana Ciuraru