Kerogen Capital invests $125m in emerging markets oil firm
Hong Kong-based Kerogen Capital has committed $125 million to NewAge (African Global Energy), becoming the largest shareholder in the company. The investment will be made in three tranches, with Kerogen also having the right to co-investment alongside NewAge as an equal partner on future projects in Sub-Saharan Africa and Iraq, including Kurdistan.
It is the second deal completed by Kerogen Energy Fund, following a A$125 million ($130 million) commitment to Australian drilling company AJ Lucas Group in September 2011. NewAge is an independent oil...
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