13/03/2013 - 01:35

Damon Neaves

13/03/2013 - 01:35

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Damon Neaves
Damon Neaves, Managing director/chief executive of Pura Vida Energy

Corporate lawyer Damon Neaves co-founded oil explorer Pura Vida Energy, which went on to become the best performing initial public offering for 2012.

It was a far cry from a year earlier, when Mr Neaves was rattling the tin very hard to raise the $4 million required for Pura’s IPO at a time when there was massive economic uncertainty stemming from the European debt crisis.

Coupled with that was the Arab Spring, which didn’t do Mr Neaves any favours as Pura’s flagship asset — the Mazagan permit — was off the coast of Morocco.

The funds were successfully raised, however, and Pura is now trading at more than three times its issue price; it no longer has problems raising funds, having recently raised $6 million in 48 hours. Mr Neaves is focused on further exploring Mazagan and building a diversified portfolio of assets in and around Africa.

 

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