Scandoil  

Cub Energy to increase ownership interest in KUBGAS up to 40%


Published Feb 2, 2016
CUB Energy Inc.

Cub Energy Inc. says that pursuant to a letter agreement between the Company's wholly-owned subsidiary, Gastek LLC (Gastek), and Resano Trading Ltd (Resano), Gastek has revoked its notice to exercise its right of first refusal announced on January 6, 2016, to purchase the remaining 70% of KUBGAS Holdings Limited (KUBGAS) held by Serinus Energy Inc. Cub, through Gastek, currently holds the other 30% of KUBGAS.

In return for the revocation notice, Gastek can earn up to an additional 10% ownership interest in KUBGAS as follows:

Gastek will receive a 5% ownership interest in KUBGAS from Resano following its closing with Serinus;

Tags: CUB Energy Inc.




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml