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 >>

Russia >>  2/11/2016 - Rosneft and Pietro Barbaro S.p.A. signed a Memorandum of Understanding with the scope of creating a Joint Venture (JV) in the area of international sh...
United States >>  2/9/2016 - WPX Energy has signed an agreement to sell its wholly owned subsidiary WPX Energy Rocky Mountain, LLC, to Terra Energy Partners LLC for $910 million. ...

United States >>  2/5/2016 - Schlumberger Limited and Cameron International Corporation jointly announced that the European Commission has cleared their proposed merger without an...
Russia >>  2/1/2016 - The document involves construction plan of joint ventures for production of marine, oil and gas, and electrical equipment to ensure timely constructio...

United Kingdom >>  1/27/2016 - Air Energi Group Limited and Swift Worldwide Resources Limited have merged to form Airswift Holdings Limited, a $1.2bn turnover company specialising i...
Brazil >>  1/26/2016 - A Brazilian court blocked the 1.9 billion real ($469 million) sale of a 40 percent stake in a natural gas unit of Petroleo Brasileiro SA to Japan's Mi...

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 |

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.