Gulf Oil and Gas accountACCOUNT

Solo Oil Terminates a Mutual Agreement with Obtala

Source: www.gulfoilandgas.com 4/5/2012, Location: South America

Share |
Solo Oil plc announces that discussions regarding the Heads of Agreement (HOA) with Obtala Resources Limited (Obtala) to acquire Ilakon Limited, a wholly owned Obtala subsidiary, which holds the beneficial rights to the Mina El Carmen block in Argentina, have been terminated by mutual agreement. The HOA announced in December 2011 anticipated completion in late January 2012, however, the parties have now concluded that administrative delays in due diligence preclude timely completion and have agreed to terminate the HOA.

Solo, in line with its investment strategy to acquire a diverse portfolio of direct and indirect interests in exploration, development and production, continues to actively review investment opportunities, but is currently focussed on Tanzania as a result of the recent discovery in its Ntorya-1 well in the Ruvuma PSA.

Mergers and Acquisitions News in Argentina >>

Norway >>  9/26/2016 - Aker Solutions will for the eighth consecutive year offer employees in selected jurisdictions the opportunity to buy shares of the company. The 2016 e...
United Kingdom >>  9/26/2016 - InfraStrata plc has agreed to a modification of the option held by Baron Oil Plc (Baron) to acquire equity in Islandmagee Storage Limited (IMSL), the ...

Brazil >>  9/23/2016 - Petrobras announces that its Board of Directors approved, in a meeting held, the sale of 90% of the shares of Nova Transportadora do Sudeste (NTS) to ...
Singapore >>  9/23/2016 - AIM-listed Baron Oil has entered into a Joint Venture with SundaGas, a Singapore-based company, to search for new business opportunities in Southeast ...

Russia >>  9/21/2016 - The Rutgers Severtar facility will be built in place of the old coal-tar processing unit at Cherepovets Steel Millís coke production plant. Rutgers Gr...
Brazil >>  9/20/2016 - Akastor ASA (AKA), an oil service investment company, announced that it has signed a Heads of Agreement with MITSUI & CO., LTD, a leading Japanese tra...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  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 


Argentina Oil & Gas 1 >>  2 | 3 |

Oil & Gas Projects in Argentina >>

More News

 

Oil & Gas Companies in Argentina >>


Related Links

AR BM BO BR CL CO EC FK GY MX PE TT UY VE
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.