T5 Oil and Gas targeting first takeover deal this year

T5 Oil and Gas, the exploration investment firm headed by former Tullow Oil executives, has designs on becoming a publicly listed “multibillion-dollar” company and is targeting completion of its first reverse takeover deal before the end of this year.

Speaking at a natural resources investor conference in London, T5’s chief financial officer Peter Heintzelman outlined that the company’s aim is to build “a publicly listed billion-dollar Africa and Middle East exploration and production company, creating long-term value for our stakeholders”.

He said this would be done by “creatively executing [merger and acquisition] transactions, utilising our distinct technical and funding capabilities”.