For investors

Asset acquisition roadmap

A deal's path from spotting an opportunity to closing. At every decision point the deal can stop — and that is normal.

Opportunity screening

Decide whether the asset is worth the team's time

1
Search for opportunities
Search the map yourself — or send us a request, and we will do the screening and the first pass at the economics.
Investor request
2
Summarize key characteristics
Reserves, production, contract or licence, infrastructure, operator.
3
Screen and prioritize
Decision
Pursue?
If not — the deal is rejected

Test the reserves, the development plan and the economics

4
Preliminary discussions
5
Confidentiality agreement
6
Access to data
Data room: geology, reserve reports, project documents, the contract.
7
Reserves assessment and technical due diligence
8
Development plan: costs and production
9
Economic evaluation
Open the economic model
Decision
Pursue?
If not — the deal is rejected
10
Risk assessment
Decision
Assurance: high risk or poor economics?
If not — the deal is rejected

Agree the terms and get board approval

Sign the documents and complete government procedures

15
Memorandum of understanding
16
Final due diligence: technical, legal, financial
17
Sale and purchase agreement
18
Government procedures
Permit of the competent authority to transfer the subsoil use right, the State's priority right, and merger clearance where required.
Subsoil Code in the legal library
19
Deal close

Not legal advice.