Oil and Gas News

Nathan Tinkler invests in oil and gas

Nathan Tinkler has agreed to invest $20 million in Perth-based oil and gas play Orca Energy.

The company announced that the Tinkler-controlled Bentley Resources and Trepang Services, controlled by John Robinson Snr and Nick Paspaley, would invest $20 million in the company through a placement.

As a result both Tinkler and Robinson will join the Orca board.

Orca said the cash injection would be used to identify, evaluate and acquire or invest in assets or projects in the energy sector.

Managing director of Orca Greg Bandy said the company was delighted to have attracted the financial support and corporate experience of both Tinkler and Robinson.

"We believe that well capitalised companies with a long-term investment strategy are well placed to take advantage of a depressed energy sector,” Bandy said.

"Orca is now in a position to do just that."

This is the second Perth-based junior Tinkler has decided to join, after he was appointed as a corporate advisor for nickel exploration company Rumble Resources.

Tinkler’s previous experience has been in the coal market.

Debuting on the BRW Rich List in 2008 with $426 million at the age of 32, Tinkler built his fortune to almost $1.1 billion before a very public collapse of fortunes just years later.

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