On July 27, 2010, Heritage Oil Plc, an independent upstream exploration and production company listed on the LSE and the TSX, completed the disposal of its entire interests in Block 1 and Block 3A in Uganda. A subsidiary of Tullow Oil Plc paid cash consideration of US$1.35 billion and an additional contractual settlement amount of US$100 million, of which Heritage received and retained US$1.045 billion with an additional approximately US$405 million in part deposited with the government of the Republic of Uganda and in part held in escrow pending resolution of a tax dispute with the Uganda Revenue Authority.
McCarthy Tétrault LLP acted for Heritage, with a team that comprised Robert Brant, Paul Airley and Geoff Peters in London, and Gregory Turnbull, Peter Goode and Robert Nearing in Calgary.
Tullow was advised in-house and by Vinson & Elkins LLP in London, with a team that comprised Alexander Msimang and Kevin Atkins.
McCarthy Tétrault LLP acted for Heritage, with a team that comprised Robert Brant, Paul Airley and Geoff Peters in London, and Gregory Turnbull, Peter Goode and Robert Nearing in Calgary.
Tullow was advised in-house and by Vinson & Elkins LLP in London, with a team that comprised Alexander Msimang and Kevin Atkins.
Lawyer(s)
Peter C. Goode
Robert J. Brant
Robert W. Nearing
Gregory G. Turnbull
Firm(s)
McCarthy Tétrault LLP
Vinson & Elkins LLP