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 >>

Japan >>  2/23/2017 - Marubeni Corporation (“Marubeni”) has reached an agreement to acquire a 60% stake in Dutch feed additive distributor Orffa International Holding B.V. ...
Papua-New Guinea >>  2/23/2017 - InterOil Corporation (IOC) announced the completion of the previously announced transaction with Exxon Mobil Corporation (XOM). Under the terms of the...

Russia >>  2/21/2017 - Russian oil producer Lukoil said in a statement it has completed the sale of its Karpatneftekhim petrochemical plant in western Ukraine. The plant has...
Ukraine >>  2/21/2017 - LUKOIL completed the sale of wholly owned subsidiary – LUKOIL Chemical B.V. (the Netherlands), which owns petrochemical plant «Karpatneftekhim» locate...

Australia >>  2/20/2017 - Chevron has paid $3 million for a cash bid permit to secure the right to explore an area off the Western Australian coast for the next six years. The ...
Papua-New Guinea >>  2/20/2017 - InterOil Corporation announced that the Supreme Court of Yukon has granted a final order approving the arrangement between InterOil and Exxon Mobil Co...

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 CU EC FK GY MX PE TT UY VE
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.