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Doriemus Announces Withdrawal from L15 Farm out with Rey Resources

Source: www.gulfoilandgas.com 2/5/2020, Location: Not categorized

Doriemus has provided a notice of withdrawal of the relevant L15 Farmout Agreement to Rey Resources. The withdrawal ceases the right of Doriemus to earn an interest in L15 and brings the L15 Farmout Agreement to an end.

Further to its announcement dated 30 January 2020, Doriemus confirms that it intends to focus on finalising the transaction with Oilex for the proposed acquisition of a portfolio of oil and gas assets within the onshore South Australian Cooper-Eromanga Basin. Further in this regard, and as previously announced, Doriemus continues to evaluate the status of each of its remaining assets out of the United Kingdom. Where viable, Doriemus will seek to potentially rationalise such assets in order to further strengthen its balance sheet as it seeks to move forward with the recently announced transaction.

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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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