Key parties on the transaction

Legal adviser to Zeta Petroleum

Dewey & LeBoeuf 

Partner Bruce Johnston commented: 

"This is an exciting deal for Zeta and Key, allowing them both to expand their operations into new territories and to consolidate their resources and expertise. We were very pleased to guide Zeta through this transaction, providing the benefit of our technical corporate skills in conjunction with our specialist knowledge of the energy sector."

Mr Johnston can be contacted on +44 (0) 207 459 5052 or by email at bruce.johnston@dl.com

Reverse takeover of Key Petroleum by Zeta Petroleum

Zeta Petroleum is pleased to announce that Key Petroleum Limited (“KEY”) has agreed, subject to certain conditions and approvals, to acquire 100% of the issued capital of Zeta Petroleum Limited.

KEY is a oil and gas exploration company listed on the Australian Stock Exchange (code: KEY) that holds the following oil and gas interests:

At completion two KEY directors will resign from the board of KEY and be replaced by the following ZETA board members:

• Stephen West as Managing Director;

• Phil Crookall as Technical Director; and

• Tim Osborne as Non-Executive Chairman.

Ken Russell, the existing Managing Director of KEY, will resign from his position and remain on the board of KEY as a Non-Executive Director.

Completion of the proposed KEY transaction is subject to certain conditions and approvals, including the approval of the shareholders of KEY.

Stephen West, Managing Director of Zeta, commented: “From ZETA’s perspective, KEY is an excellent fit for us. ZETA has reached a stage where it is looking at expanding and stepping out into new countries, and KEY’s current asset portfolio and existing UK production complements our existing portfolio in Romania. We are excited about taking the enlarged group to the next level by delivering results from existing assets and by assessing other growth opportunities.”

For more information please visit www.zetapetroleum.com