Farmout of Cabinda North License Now Approved

Source: www.gulfoilandgas.com 8/4/2009, Location: Africa

InterOil Exploration & Production ASA (InterOil) announced on the 15 of May 2009 the agreement with Petropars to sell 10% in the Cabinda North license in Angola with subject to board approval. The agreement has now been approved by the board of Petropars. The transaction will cover all of InterOil's current commitments, including social contribution in this Block. The final book value of the transaction is a net profit after tax of USD 7 Million.

This deal reflects the large potential value in InterOil's West African portfolio, and shows that the company is able to realize values even in the current challenging financial environment.


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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  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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