2009-08-19-2007-11-01-2007-11-01

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
898MM
Description

Bought co., gaining 100% operating interest in Issaran oil field, 30% interest in Safed Koh Block in Pakistan.

Logria Corp., a subsidiary of Cairo-based National Petroleum Company SAE and affiliated private-equity firm Citadel Capital Co., has acquired Rally Energy Corp., Calgary, (Toronto: RAL; Frankfurt: RLE) for approximately C$898 million. Rally's primary area of operations is in Egypt, where it has a 100% operating interest in the Issaran oil field, and in Pakistan with a 30% interest in Safed Koh Block. Citi was financial advisor to Citadel Capital and NPC. Citadel Capital and NPC managing director Karim Sadek says, "We are very excited about this transaction as it will significantly enhance NPC's daily production numbers, provide an entry into the heavy-oil business, and offer NPC its first exposure outside of Egypt through Rally's Pakistani assets. Overall, we believe that Rally's assets are very complementary with NPC's current assets, which are primarily located in the Gulf of Suez and are exploratory in nature."