Panoro Provides Update on Divestment Process for Aje Field

Source: www.gulfoilandgas.com 11/7/2013, Location: Africa

Panoro Energy announces that Lekoil has failed to pay the balance of USD 26 million plus an additional amount of approximately USD 1 million of working capital adjustment by November 6, 2013. Panoro Energy's wholly-owned subsidiary Pan Petroleum Aje Limited (“PPAL”) is now entitled to terminate the SPA, retain the USD 4 million already paid into Panoro's bank account, and in addition call the USD 3 million the bid bond. Lekoil has requested an additional extension to pay the outstanding balance of approximately USD 27 million for the transaction by November 25, 2013.

For more information about related Opportunities and Key Players visit West Africa Projects


Norway >>  1/26/2023 - Highlights 2022
- Produced Revenues (see Note 1 and 2 in the attached Q4 earnings release) of $817.2 million, compared to $590.0 million in 202...

United States >>  1/26/2023 - Apex Clean Energy announced the recipients of its 2022 Conservation Grant Program, totaling $1.2 million in funding for conservation projects near the...

United States >>  1/26/2023 - Murphy Oil Corporation (MUR) announced its financial and operating results for the fourth quarter ended December 31, 2022, including net income attrib...
United States >>  1/26/2023 - Xcel Energy Inc. (XEL) reported 2022 GAAP and ongoing earnings of $1.74 billion, or $3.17 per share, compared with $1.60 billion, or $2.96 per share ...

United States >>  1/26/2023 - Valero Energy Corporation (VLO, “Valero”) reported net income attributable to Valero stockholders of $3.1 billion, or $8.15 per share, for the fourth ...
Denmark >>  1/25/2023 - Ørsted will release its results for the full-year 2022 on Wednesday, 1 February 2023. The results will be released at approx. 8:00 CET.

In ...


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 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.