Gulf Oil and Gas accountACCOUNT

Termination of EP487 Farmout Agreement

Source: www.gulfoilandgas.com 8/5/2019, Location: Not categorized

Doriemus Plc (DOR) has received a notice of termination of the relevant EP 487 Farmout Agreement from Rey Resources Limited (REY). The EP487 Farmout Agreement was terminated by Rey Resources Limited as result of Doriemus not satisfying the relevant condition precedent to have sufficient funding in place by 31 July 2019 in order to undertake the drilling of an exploration well (Butler prospect) proposed as part of the relevant farm in obligations on EP487.

The termination ceases the right of Doriemus to earn an interest in EP487 and brings the EP487 Farmout Agreement to an end. The termination of the EP487 Farmout Agreement does not affect the farmout arrangements for L15, also with Rey Resources Limited, which is pursuant to the separate L15 Farmout Agreement.

Mergers and Acquisitions News in Australia >>

Azerbaijan >>  2/10/2020 - SOCAR-AQS and Halliburton Company (HAL) announced the companies have signed a Memorandum of Understanding (MOU) to form a new joint venture to provide...
Australia >>  2/5/2020 - Melbana Energy Limited advises that the offers made under the off market takeover bid made by Melbana Energy for all of the ordinary shares in Metgasc...

Brazil >>  1/31/2020 - Petrobras has started the opportunity disclosure stage (teaser), regarding the sales of all of its equity stakes in the companies Eolica Mangue Seco 1...
United Kingdom >>  1/31/2020 - Chrysaor’s talks to buy smaller regional rival Siccar Point have ended after a large gap between their price expectations. The breakdown in negotiatio...

United States >>  1/31/2020 - Talos Energy Inc. announced the filing of a preliminary Schedule 14C information statement with the Securities and Exchange Commission (“SEC”), an imp...
Norway >>  1/30/2020 - Zenith Energy Ltd., (Zenith) is pleased to announce the establishment of its fully owned Norwegian subsidiary, Zenith Energy AS (Zenith Norway). ...

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 


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

More News

Related Links

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