Scandoil  

LGO Energy acquires 25% stake in BOLT


Published Oct 13, 2015
LGO Energy

LGO has completed the acquisition of a 25% stake in Beach Oilfield Limited with which LGO already holds an agreement to acquire the deep petroleum rights to all of BOLT's South West Peninsula interests in Trinidad. Through this acquisition LGO also now has access to an interest in the shallow petroleum rights held by BOLT, including the producing Bonasse Oilfield.

Neil Ritson, LGO's Chief Executive, commented,'We consider the South West Peninsular of Trinidad to be a major medium term investment opportunity, especially the deep targets which have so far not been adequately explored, however, the acquisition of an interest in BOLT also gives rise to immediate access to shallower objectives including within the producing Bonasse Oilfield. We expect to be in a position to report on our plans to reinvigorate that asset in the next few months.'

Tags: LGO Energy




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