Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/bowleven-reaches-mutually-acceptable-agreement-wit.shtmlBowleven reaches mutually acceptable agreement with Petrofac
Bowleven has reached a mutually acceptable agreement with Petrofac to terminate the Strategic Alliance Agreement. This satisfies one
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Bowleven has reached a mutually acceptable agreement with Petrofac to terminate the Strategic Alliance Agreement. This satisfies one of the conditions of the LUKOIL and NewAge farm-out transaction announced on 24 June 2014. The termination agreement is subject to completion of the farm-out.
Under this arrangement Bowleven will pay $9 million to Petrofac upon completion of the farm-out transaction as full and final settlement and the Strategic Alliance Agreement shall terminate.
