Panoro Decides not to Participate in Bid Round 11

Source: www.gulfoilandgas.com 4/16/2013, Location: South America

Panoro Energy ASA announces that the company has decided not to participate in the 11th Bidding Round in Brazil and consequently has informed the Brazilian National Petroleum Agency (ANP) accordingly.

The reason for the decision to withdraw the application is that the company elects not to embark on additional capital commitments until the company has concluded on any of the ongoing divestment processes.

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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 

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