Corporate Cluedo - India, page-2

You can almost guarantee Warburg Pincus will be watching with interest and could make a good partner for FAR when it comes to finance...

"New York-based private equity firm Warburg Pincus is heading back to Africa, with a $600 million investment in a Delonex, a new oil and gas exploration company..Energy investments in emerging markets are drawing increasing amounts of private equity capital.In addition to Warburg’s Delonex investment, the firm is betting on Latin American oil and gas exploration with an investment in Casa Exploration, LBO Wire reported in March. Meanwhile TPG Capital is working with former Kosmos Energy chief executive James C. Musselman in his new emerging markets-focused oil and gas company, Caelus Energy LLC.The deal is Warburg Pincus’ second commitment to an African oil and gas company. The firm’s previous investment, Kosmos Energy Ltd. proved to be a lucrative deal for Warburg and its investment partner Blackstone Group . Based on the firm’s ownership stake and Kosmos’ current stock price, Warburg’s piece of the $800 million invested in the company is now worth roughly $1.47 billion. Kosmos also made money for Warburg through the sale of its stake in several oil discoveries for $4 billion to Exxon Mobil Corp.Warburg and its limited partners may have found another winner in Delonex.
The company’s Chief Executive Officer Rahul Dhir has had his own successes
in the oil and gas industry, leading the spin out of Cairn India Ltd. from its parent Cairn Energy , andguiding the company through a $8.67 billion majority sale to Vedanta Resources Plc</a>.Delonex will concentrate on oil and gas exploration along the East Africa Continental Rift System, extending from the Red Sea through Ethiopia, Kenya, Uganda, and Tanzania to Mozambique; and the Central Africa Rift System from Chad to South Sudan, and along the coastal margins of East Africa.Africa has long been considered a promising region for oil and gas investment, butdeveloping oil and gas on the continent has its problems. For example Royal Dutch ShellPLC's recently made a decision to abandon talks with Anadarko Petroleum Corp. for shares of gas discoveries off the coast of Mozambique."

Cheers Whisky