Hartshead Resources has been acquired by Australian listed Ansila Energy. 

Ansila Energy already owned 21.6% of the firm, and completion of the deal was announced on the Australian stock exchange ASX this week.

Hartshead’s success in the UK 32nd Offshore Licensing Round resulted in the formal award of five contigous blocks in the Southern North Sea, with four existing discoveries totalling 354 Bcf of 2C Contingent Resources.

Andrew Matharu, chief financial officer of Hartshead Resources, said: 
“It was a pleasure to work with Brad and his team at Fieldfisher on this transaction who provided us with sound advice and guidance throughout the process.

"The completion of this transaction and capital raise marks a new chapter for Ansila Energy as a gas development company with ready-to-develop projects on the UK Continental Shelf.”

Ansila acquired its initial stake in Hartshead in July 2019, under its previous name of Pura Vida Energy.

Hartshead’s main focus is to develop gas resources as sustainable, low-emission projects.

The company was incorporated in 2019 as a special purpose vehicle, with the specific intention to apply for blocks in the southern gas basin in the UK, as the starting point to building a European Energy portfolio.

Chris Lewis, CEO, commented:
"The completion of this transaction and capital raise will see Ansila Energy transformed into a gas development company with ready to develop projects on the UK continental shelf. The next twelve months will see us invest in the planning for the Phase I field development, move the portfolio closer to production and create significant value for shareholders and stakeholders alike. There are multiple milestones to reach in the coming months and we look forward to progress on all fronts and keeping shareholders fully informed along the way".

KeyFacts Energy: Ansila Energy UK country profile