Hartshead Resources (ASX:HHR) appoints new finance energy advisors

• Hartshead Resources (HRR) appoints specialist corporate finance energy advisor Carlingford to aid the company in finalising the financing for its development
• UK-based Carlingford is working with the company to secure third-party financing for its phase one Anning and Somerville gas field development
• Both parties will aim to finalise key aspects of the project
• Hartshead also appoints LAB Energy as an advisor after it supported the company’s farm-out for $205.3 million
• HRR shares are up 4.17 per cent, trading at 2.5 cents at 11:26 am AEST

Hartshead Resources (HHR) has appointed Carlingford, a specialist corporate finance energy advisor, to assist in finalising the financing for its development.

The UK-based Carlingford will collaborate with the company to secure third-party financing for its phase one Anning and Somerville gas field developments.

The partnership will focus on concluding crucial aspects of the project, including project finances, pre-payment on future production streams, publicly listed and private bonds, as well as potential additional equity divestment in phase one.

Following the successful farm-out to RockRose Energy, Hartshead also aims to explore additional equity divestments and debt options to maximise long-term value for shareholders.

To support these efforts, the company has retained LAB Energy as an advisor. LAB Energy has a wealth of transaction experience and a successful track record in asset divestment and farm-out transactions worldwide.

“Carlingford are a sector-leading corporate finance boutique with a strong track record of delivering structured project finance solutions for development projects on par with our Phase 1 gas development,” HRR CEO Chris Lewis said.

“I am confident that the appointment of both Carlingford and LAB Energy will ensure the company earns the best outcome for shareholders as we move toward putting all of our required development funding in place, prior to taking FID later this year.”

The company is now focused on advancing its environmental statement later this year, following the submission of its field development plan.

HHR were up 4.17 per cent, trading at 2.5 cents at 11:26 am AEST.