Press Release - Fenix Bank financial advisor https://www.stockhouse.com/news/press-releases/2015/01/15/azabache-announces-retention-of-financial-advisor
Azabache Announces Retention of Financial Advisor
Azabache Energy Inc. ("Azabache" or the "Company") (TSX VENTURE:AZA) announced today that it has retained the services of Fenix Partners to assist the Company in evaluating and analyzing financing options to develop the Company's 124,000 acres of Vaca Muerta shale properties. The various alternatives may involve a farm out, sale or merger of the company, or some other transaction that will advance the interest of shareholders.
Founded in 2002, Fenix Partners provides independent advisory services in corporate finance specialized in the energy sector. Among its services Fenix Partners offers advisory in corporate mergers, acquisitions and divestures, fund raising, debt restructuring, valuations, fairness opinions; and specific advice in acquisitions and divestures of oil & gas upstream assets.
Claudio Larotonda, President and CEO of the Company, stated "Following our successful oil find in 2014, the Company has to invest a minimum of $60 million over the next three years in order to drill and fracture stimulate wells and complete 3D seismic evaluation of the properties. We are looking for a suitable partner to assist us in both our technical and financial requirements. Fenix Partners' long and successful history in the Argentine energy sector will be very helpful in finding such a partner."
Argentina has a serious deficit of hydrocarbons and is currently importing gas and crude in excess of $1 billion per month. The new energy law approved in October 2014 provides a much-improved framework for international investors to fund oil and gas exploration. The Company's Vaca Muerta properties are located in the Neuquén Basin, one of the country's most prolific basins.
Read more at https://www.stockhouse.com/news/press-releases/2015/01/15/azabache-announces-retention-of-financial-advisor#lqWxOWPKcgS52PYE.99