Deutsche Bank wins ADR mandate

Deutsche Bank wins ADR mandate

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Deutsche Bank has been appointed depositary bank for the non-capital raising sponsored Level I American Depositary Receipt (ADR) program of Australia-based Tap Oil.

Tap Oil is an independent oil & gas exploration and production company with interests in Australia and South East Asia.

“We are delighted to be appointed as depositary bank for Tap Oil’s sponsored Level I ADR program, our ninth ADR mandate in the Australia and New Zealand region this year," said Naomi Flutter, head of global transaction banking, Australia & New Zealand at Deutsche Bank.

"This momentum clearly demonstrates our success and continued commitment to these important markets. We look forward to providing Tap Oil with the highest level of service for their newly-launched program."

The company’s oil and gas business consists of exploration, appraisal and production assets, including Tap Oil’s flagship project, the Manora Oil Development off the shore of Thailand.
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