APCL Provides Update on MOU with PetroChina

Source: www.gulfoilandgas.com 9/3/2012, Location: Africa

Further to the announcement made by African Petroleum Corporation Limited (APCL or the Company) on 16 July 2012, the Company advises that the exclusivity granted to PetroChina International Investment Company Limited (PetroChina) has expired.

Pursuant to a memorandum of understanding (MOU) between the Company and PetroChina, the Company granted PetroChina exclusivity to agree an investment in up to 20% of the Company’s Block LB-09 in Liberia and up to 20% in one or more exploration blocks in Cote d’Ivore, the Gambia, Liberia, Senegal and Sierra Leone.

Notwithstanding the expiry of the exclusivity period, the Company is continuing its negotiations in good faith with PetroChina in a positive manner regarding the parameters of an investment in the Company’s projects. Shareholders will be kept informed of developments.


New Zealand >>  7/5/2022 - OSM Maritime (OSM) would pleased to announce that Kingston Offshore Services, a New Zealand-based provider of oil and gas and offshore marine services...
Sweden >>  7/5/2022 - Eolus has signed an agreement with DalaVind AB to expand its participating interest in the Fageråsen wind power project to 49%. Together, the companie...

United States >>  7/5/2022 - Stronghold Energy II Operating, LLC and Stronghold Energy II Royalties, LP, two privately held companies ("Stronghold"), have announced that Ring Ener...
Ethiopia >>  7/4/2022 - Yara has signed a Share Purchase Agreement with XLR Enterprises Limited to sell its ownership interest in the Dallol mining project in Ethiopia. The D...

Nigeria >>  7/1/2022 - ADM Energy PLC, a natural resources investing company, provides an update on the legal proceedings in respect of its interest in the Barracuda oil fie...
Norway >>  7/1/2022 - Rex International Holding Limited (“Rex International Holding”, “Rex” or the “Company”, and together with its subsidiaries, the “Group”), a technology...

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 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.