Gulf Oil and Gas accountACCOUNT

Option Agreement for Offshore African Acreage Terminated

Source: www.gulfoilandgas.com 7/2/2014, Location: Africa

Stetson Oil & Gas Ltd, a Forbes & Manhattan Energy Group Company, reports that the exclusive option agreement (the "Option Agreement") entered into with a private company ("Privateco") for the option to acquire an interest in two prospective exploration blocks offshore West Africa has now been terminated.

In connection with the Option Agreement, the Company originally provided a US$1,500,000 advance to Privateco at an interest rate of 10% per annum. Since a definitive agreement for the offshore blocks was not executed, Privateco has now repaid to Stetson the advance, all accrued interest, and the extension fees for extending the term of the Option Agreement.

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

Acquisitions and Divestitures News in Nigeria >>

South Africa >>  2/25/2020 - Africa Energy Corp., an oil and gas company with exploration assets offshore South Africa and Namibia, is pleased to announce the execution of two far...
Nigeria >>  2/24/2020 - ADM Energy PLC, an oil and gas investing company quoted on AIM, is pleased to advise that it has entered into a sale and purchase agreement ("Agreemen...

Egypt >>  2/20/2020 - United Oil & Gas Plc (UOG) is pleased to announce the satisfaction of the regulatory conditions attached to its proposed acquisition (Acquisition) of ...
Canada >>  2/19/2020 - Calima Energy Limited (CE1) (Calima) owns and operates drilling and production rights in British Columbia (”Calima Lands”). The Company is pleased to ...

Vietnam >>  2/14/2020 - KrisEnergy has announced that its wholly-owned subsidiary, KrisEnergy (Vietnam 115) Ltd, has entered into a farm-out agreement with a major internatio...
Ireland >>  2/13/2020 - Providence Resources P.l.c., the Irish based Energy Company provides the following corporate update. ...

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  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Nigeria Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.