Gulf Oil and Gas accountACCOUNT

Europa Oil & Gas Re-Assigns Licence Interest to Arenite Petroleum

Source: www.gulfoilandgas.com 3/14/2017, Location: Europe

Europa Oil & Gas (Holdings) plc, the AIM traded UK and Ireland focused oil and gas exploration, development and production company, announces that following the acquisition of Shale Petroleum (UK) Limited (SPL) for a nominal consideration of £1 (see announcement of 15 August 2016 for further details), it has re-assigned a 10% interest in UK onshore licence PEDL 343 (the Licence) to Arenite Petroleum Limited.

The acquisition of SPL resulted in Europa’s interest in PEDL343 increasing from 22.5% to 45%. Following the re-assignment, which is in accordance with an existing commercial arrangement, Europa’s interest in the Licence is 35% alongside Arenite Petroleum Limited (15%), Third Energy UK Gas Limited (20%), Egdon Resources UK Limited (17.5%) and Petrichor Energy UK Gas Limited (12.5%).

PEDL343 is operated by Third Energy and contains the Cloughton gas discovery made by Bow Valley. An exploration well in 1986 flowed a small amount of gas to surface on production test from Carboniferous sandstone reservoirs. Europa regards Cloughton as a gas appraisal opportunity.

Acquisitions and Divestitures News in United Kingdom >>

Colombia >>  8/11/2020 - Petrobras, following up on the release disclosed on 07/27/2020, regarding the sale of its entire stake in the exploratory portion of the Tayrona Block...
Brazil >>  8/10/2020 - Petrobras informs that it has started the opportunity disclosure stage (teaser), referring to the sale of 50% to 100% of its stake in the BM-S-51 conc...

Brazil >>  8/10/2020 - Petrobras, following up on the release dated July 29, 2020, informs that it paid Fundação Petrobras de Seguridade Social (Petros) R$ 950 million, rega...
Canada >>  8/10/2020 - Canadian Natural Resources Limited (“Canadian Natural”) announces it has entered into a definitive arrangement agreement with Painted Pony Energy Ltd....

Brazil >>  8/7/2020 - Petrobras, following up on the press release disclosed on June 29, 2020, informs the beginning of the binding phase, referring to the sale of its enti...
Brazil >>  8/7/2020 - Petrobras, following up on the press release disclosed on 06/26/2020, informs the beginning of the binding phase, referring to the sale of its entire ...

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 


United Kingdom Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 |

More News

Related Links

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