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Baron Oil announces sale of 50% of Invepetrol-Nancy Burdine Maxime field


Published Apr 15, 2014
Baron Oil

Baron Oil is pleased to announce the sale of 50% of its equity in Inversiones Petroleras de Colombia S.A.S. (Invepetrol) (a wholly owned subsidiary) to C.I. International Fuels Ltd. (CII). Invepetrol is a special purpose Colombian Company holding the Company's 50% interest in the Nancy- Burdine - Maxime field (NBM), located in the Putumayo Basin, Colombia.

Under the terms of the agreement, Invepetrol will initially purchase S&J Fullservices Ltd's 50% participation interest in the NBM field to give it a 100% interest. Baron Oil will then sell a 50% interest in Invepetrol to CII for US$2 million in cash.

Tags: Baron Oil




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