Havoc Partners (Havoc) is a natural resources investment partnership focussed primarily on the oil and gas sector.
The five founding partners are geoscientists who have worked together for more than 16 years and collectively have more than 100 years of international upstream experience. Havoc was established as a platform to deploy the expertise and relationships of the partners to make direct and indirect natural resource investments with an emphasis on oil and gas sector.
The Havoc team were the founder directors and key technical staff of Fusion Oil & Gas plc (Fusion) which listed on the AIM market of the London Stock Exchange in 2000. Fusion had an extensive portfolio of interests in West Africa and was involved in several play opening oil and gas discoveries, partnering Woodside Energy and Eni, offshore Mauritania. Following the sale of Fusion in 2003 the team moved together to establish Ophir Energy plc. Ophir grew rapidly from a start-up in 2004 to being the fifth largest deep water acreage holder in Africa by 2007. Ophir established its credentials as a deep water Operator in 2008 by making two gas discoveries offshore Equatorial Guinea. In 2010 Ophir operated the first deep water drilling campaign offshore Tanzania, having successfully farmed-out to BG Group, and resulting in three consecutive significant gas discoveries.
The credentials of the management and technical team were further highlighted through the successful farm-out of Ophir’s Gabonese assets to Petrobras, the Brazilian State Oil Company and pre-eminent pre-salt exploration company.
Ophir’s admission to the Official List of the London Stock Exchange in 2011 was the largest ever E&P IPO in London and the most successful capital raising for that year. The company currently has a market capitalisation in excess of £2 Billion. Since listing in 2011 Ophir has drilled three further gas discoveries in Equatorial Guinea and four further gas discoveries in Tanzania.
Havoc’s investment strategy is to seek opportunities where investment in geoscience data and/or technology can result in a disproportionate increase in value. The preferred approach is to back strong management teams via investments at the corporate level in private or public companies, however where appropriate Havoc will also considers direct investment as a working interest participant in projects. The degree to which Havoc is active within either an asset or corporate investment will depend on the scale of the investment and the circumstances and the partnership has a wealth of expertise and contacts that it can draw upon to provide technical and commercial support on an as required basis.
The Havoc partners are all geoscientists and the Company is equipped with the latest geological and geophysical software to enable the team to undertake technical and commercial evaluations and to develop and evaluate projects in-house.
The partnership deploys a disciplined approach to project selection which combines technical and commercial rigour with an ability, when required, to transact at a speed which can create an advantage in securing attractive projects in a competitive environment. Part of Havoc’s methodology considers the liquidity of an asset, particularly the ability to improve the liquidity of an asset through investment in geoscience data and/or technology. The partners have demonstrated an ability to work together to build and develop significant asset portfolios creating value through the application of a combination of geoscience, commercial transactions, public markets and the drill bit.
Havoc’s flexible investment strategy provides more optionality and flexibility to realise value from investments than a traditional E&P model, with positions that may ultimately be sold, farmed down or vended into existing or start-up companies.
Access to Opportunity
Havoc’s ability to source investment opportunities comes from the experience and network of the five founding partners who have a track record of successfully building early stage natural resource companies. The partners have established a network of relationships across oil and gas companies, investment banks, governments and commerce which augment deal flow. Havoc has long-established working relationships with Merlin Partners LLP and Strand Partners Ltd, both of which are FCA regulated, and which provides complementary corporate advisory and transaction execution capabilities.