Gulf Oil and Gas accountACCOUNT

Petro Vista Execute MOU for the Sale of Interest in Tartaruga Block

Source: www.gulfoilandgas.com 6/15/2015, Location: South America

Petro Vista Energy Corp. has entered into a binding memorandum of understanding with Maha Energy Inc. for the sale of its all of its 37.5% undivided working interest in the exploration and production contract covering the Tartaruga offshore hydrocarbon development block, located in the Sergipe Alagoas Basin in Brazil.

Under the terms of the MOU, and subject to the prior approval of the Brazilian National Oil Agency ("ANP"), Maha has agreed to pay an aggregate of CAD$2,742,600 for the Company's working interest. The first tranche of the purchase price, being CAD$1,471,300, will be paid upon receipt of the regulatory approvals (including the approvals from the ANP and the TSX Venture Exchange), approval of the Transaction by the Company's shareholders (which is proposed to happen at a special shareholders meeting on July, 2015) and completion of certain related corporate transactions by Maha. The second tranche of CAD$1,271,300 is scheduled to be paid on December 31, 2015.

For more information about related Opportunities and Key Players visit Brazil Oil and Gas Projects

Acquisitions and Divestitures News in Brazil >>

Uganda >>  5/28/2020 - Tullow Oil plc announces that CNOOC Uganda Limited (CNOOC) has informed both Tullow and Total that it will not pre-empt the sale of Tullow's assets in...
United Kingdom >>  5/26/2020 - Reabold, the AIM investing company which focuses on investments in upstream oil and gas projects, is pleased to announce the conditional acquisition o...

United States >>  5/26/2020 - Diversified Gas & Oil PLC, the U.S. based owner and operator of natural gas, natural gas liquids, and oil wells as well as midstream assets, confirms ...
Canada >>  5/25/2020 - TC Energy Corporation has completed the sale of a 65 per cent equity interest in the Coastal GasLink Pipeline Project (Coastal GasLink or the Project)...

Israel >>  5/25/2020 - Delek Group (DGRLY) announces that it signed together with Delek Energy Systems Ltd (“Delek Energy”) (“the Sellers”) an agreement with a third party (...
Indonesia >>  5/22/2020 - Coro Energy plc is pleased to announce that all necessary Indonesian regulatory approvals for the transfer of title of the 15% direct interest in the ...

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  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Brazil Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |

Oil & Gas Projects in Brazil >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.