Panoro Provides Update on Completion of Acquisitions

Source: www.gulfoilandgas.com 3/18/2021, Location: Africa

Panoro Energy ASA notes that Tullow Oil plc (“Tullow”) has announced the successful result of its general meeting to approve the disposal of all of the issued share capital of its subsidiary, Tullow Equatorial Guinea Limited (“TEGL”) held by Tullow Overseas Holdings BV, another subsidiary of Tullow, to Panoro Energy Holding BV, a subsidiary of Panoro. TEGL holds a 14.25% non-operated working interest in Block G which contains the Ceiba and Okume Complex assets, offshore Equatorial Guinea.

The resolution passed as expected and is the final condition for the completion of the agreement with Tullow and Tullow Overseas Holdings B.V. to acquire 100% of the shares of TEGL. Panoro and Tullow will now work on the final steps and expect completion in the coming weeks.

In parallel, Panoro is continuing to further progress the completion conditions related to its purchase of Tullow’s 10% working interest in Dussafu Marin permit, offshore Gabon, and will update shareholders in due course.


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...

Norway >>  7/1/2022 - The farmin agreement with OMV (Norge) AS ("OMV"), which was first announced on May 9, 2022, has now been concluded, according to Longboat Energy, an u...
Nigeria >>  6/30/2022 - Reference is made to previous stock exchange releases by PetroNor E&P ASA (“PetroNor") regarding the acquisition of Panoro Energy ASA’s (“Panoro”) int...

United States >>  6/30/2022 - U.S. Energy Corp. has entered into an agreement (the “Agreement”) to acquire operated oil and gas producing properties in an all-cash transaction (the...
Tanzania >>  6/29/2022 - Wentworth, the independent, Tanzania-focused natural gas production company, is pleased to provide an update on its agreement with Scirocco Energy plc...




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