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Hartshead Resources Appoints Carlingford and LAB Energy Advisors for Specialist Corporate Finance Support Hartshead Resources Nl

Hartshead Resources Appoints Carlingford and LAB Energy Advisors for Specialist Corporate Finance Support

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In a significant move towards securing project financing, Hartshead Resources NL (ASX:HHR) has announced the appointment of Carlingford-GFI (Carlingford) as specialist corporate finance energy advisors. The company has also extended the mandate of LAB Energy Advisors Limited (LAB Energy) in its efforts to finalise third-party finance for the Phase I gas fields development.

The appointment of Carlingford and extension of LAB Energy's mandate come after Hartshead and RockRose Energy submitted the Anning & Somerville Field Development Plan. These specialised energy sector advisors will play crucial roles in supporting Hartshead with project finance and potential equity divestment.

Hartshead has already demonstrated its commitment to securing project financing with the successful farmout of 60% of its P2607 license to RockRose Energy. The extension of LAB Energy's mandate further highlights the company's dedication to exploring parallel investment opportunities and maximising shareholder returns.

The company is actively exploring various options for securing project finance, including conventional debt facilities, pre-payment on future production streams, publicly listed and private bonds, and potential additional divestment of equity in the Phase 1 development project.

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Hartshead aims to consider all these avenues in conjunction with the various debt options to maximise long-term value for its shareholders.

Hartshead Resources NL is confident that with the appointment of Carlingford and the expertise of LAB Energy, the optimal funding solution for the gas fields development will be achieved. Carlingford, a UK-based leading independent corporate finance boutique, specializes in raising finance and advising on transactions in the upstream, energy transition, renewables, and natural resources sectors.

The project development activities for the Phase I gas fields development remain on track for the Final Investment Decision, scheduled for the second half of CY2023.

Stay tuned for further updates as Hartshead Resources progresses towards securing the necessary financing for its Phase 1 gas fields development.

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