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Zenno Completes Acquisition of First Oil & Antrim North Sea Licences

Source: www.gulfoilandgas.com 3/7/2016, Location: Europe

Zennor Petroleum Limited is pleased to announce that on 4th March 2016 it completed the previously announced purchase of First Oil & Gas Limited and Antrim Resources (N.I.) Limited from the joint administrators of First Oil Expro Limited, a company within the First Oil PLC group (“First Oil”).

This transaction, entered into on the 20th February 2016, delivers Zennor interests in the North Sea producing fields Mungo & Monan (Licence P059), Bacchus (Licence P255), Cormorant East (Licence P201) and Causeway (Licence P1383).

The acquired companies are being renamed as Zennor CNS Limited and Zennor Resources (N.I.) Limited; new names to align them with other Zennor group subsidiaries.

The Asset Purchase Agreement also entered into on the 20th February 2016 to acquire First Oil’s remaining interest in Cormorant East in addition to its interest in two undeveloped discoveries, Glenn (Licence P244 JR) and Platypus (Licence P1214), will complete in the coming weeks subject to fulfilment of the normal conditions of an asset transaction of this type.

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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  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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