(Chadbourne) June 29, 2012 – Chadbourne & Parke LLP represented Southern Cross Latin America Private Equity Fund IV, L.P. “Southern Cross” in connection with their proposed investment in Estrella International Energy Services Ltd. “Estrella”, a group of companies engaged in providing services to the petroleum, mining and geothermal industries in Latin America.

Pursuant to the investment agreement signed on June 26, 2012, an affiliate of Southern Cross has agreed to purchase 166,666,667 units of Estrella (representing approximately 55.7% of Estrella’s outstanding Common Shares, plus warrants for additional Common Shares) for gross proceeds of CAD$25,000,000 (Approx. US$ 24,700,000). Chadbourne was actively involved in negotiating the investment, which is subject to certain closing conditions, including Estrella shareholder approval.

Southern Cross is a private equity fund formed in 2010 with approximately $1.68B in capital commitments and which targets investments in Latin America. Chadbourne has regularly represented Southern Cross as well as its predecessor funds in connection with their formation and with various portfolio company acquisitions and dispositions.

Principal attorneys working on the transaction were New York partners Morton Grosz, Kevin Smith and Erez Tucner, as well as associate Patrick Narvaez.