Nautical Petroleum Completes Kraken Acquisition

Source: www.gulfoilandgas.com 5/20/2011, Location: Europe

Nautical Petroleum plc is pleased to announce the completion of the acquisition of an additional 15% interest in UKCS Licence P1077 Blocks 9/2b and 9/2c, which includes the Kraken discovery, from Canamens Energy North Sea Limited.

The transaction has received approval from the Department of Energy and Climate Change and joint venture partners. The effective completion date of the transaction is 18 May 2011. Nautical now has a 50% interest in the Licence.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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