Ashurst has advised International Petroleum Corporation ("IPC") on its US$100 million reserve-based lending facility.

IPC is a new oil and gas exploration and production company which has been spun-off from Lundin Petroleum AB and is listed on the Toronto Stock Exchange and Nasdaq First North. IPC has a portfolio of upstream oil and gas assets in France, the Netherlands and Malaysia.

The Ashurst team was led by oil and gas financing partner Huw Thomas, assisted by senior associate Alex Bartho and associates Nicole Lim and Anthony Gray, with support from colleagues in Paris.

The Ashurst team worked closely with the IPC General Counsel, Jeffrey Fountain and CFO, Christophe Nerguararian.

Huw Thomas commented:

"We are delighted to have represented International Petroleum Corporation, an exciting new E&P Company, on its inaugural financing. I know that IPC has ambitious growth plans and it is fortunate to have a strong management team which, with the benefit of this impressive support from the reserve based lending market, is well placed to bring its plans to fruition."