Delphi has been legal advisor to the oil company Maha Energy in the implementation of a private placement of USD 10 million, approximately SEK 65 million, to qualified international and Swedish investors. The funds will mainly be used to increase production in existing oil assets.
Maha Energy is a Canadian oil and gas company focusing on applying cutting edge technology to extract oil in the forgotten and neglected oil fields. Mahas current production area consists of the LAK Ranch in Wyoming, USA. Additionally, Maha is in advanced stages of negotiations for a major project in Oman, and evaluates a number of other possibilities, such as in South America and Canada.
Delphi’s team was led by partner Marcus Nivinger and assisted by Frida Lager, associate.