After reviewing the recent presentation at the Perth Good Oil...

After reviewing the recent presentation at the Perth Good Oil Conference I did a little digging into Kelso and Ajax.

http://www.kelso.com/
Kelso & Company is one of the oldest and most established firms specializing in private equity. Kelso differentiates itself from its peers given its successful 35-year investment track record, a long-tenured and stable investing team, a reputation as a preferred partner to management teams and strategics, and a significant alignment of interest with all of our partners. Since 1980, Kelso has raised a total of eight private equity funds, representing $9.8 billion of capital, and has made over 110 investments. Over the last 12 years, Kelso has invested over $2.0 billion in the energy sector. Representative Kelso energy investments include: Venari Resources, Tallgrass Development, Hunt Marcellus, Buckeye Partners, CVR Energy, and Optigas.

It seems the recent deal that was done with  W&T Offshore, Inc. (“W&T”; NYSE:WTI) was a precursor to our very own deal, although on a larger scale.

http://www.processsafety.com.au/pro...sources-kelso-to-acquire-permian-basin-assets

It also seems that the W&T deal will be settled in cash, see comments from W&T Chairman below.
"Tracy Krohn, CEO and chairman of W&T, said the proceeds of the deal will go toward paying off the company's outstanding balance under its secured revolving credit facility and provide liquidity for future transactions."

Lets hope AZZ management get this one over the line!