Longreach Oil & Gas completes arrangement with APIC Petroleum

On December 20, 2012, Longreach Oil & Gas Limited completed a plan of arrangement with APIC Petroleum Corporation. Longreach is an independent oil and gas company focused on exploration and development within Morocco. Pursuant to a plan of arrangement under the Companies (Jersey) Law, 1991, as amended, Longreach combined with APIC Petroleum, with Longreach being the surviving entity. In connection with the arrangement, APIC Petroleum continued as a company incorporated under the laws of Jersey and also completed a non-brokered subscription receipt financing pursuant to which an aggregate of 230,786,918 subscription receipts were issued for gross proceeds of approximately $30,000,000. Fasken Martineau acted as Canadian counsel to Longreach with a team that included Georges Dubé, Brad Freelan, Anne Cobbett and Andrew Teehan (corporate and securities) and Mitchell Thaw (tax).