Scandoil  
Skip Navigation

Pan Orient completes sale of Thailand concessions L44/43, L33/43 and SW1


Published Jun 18, 2012
E-mail Print

[an error occurred while processing this directive]

Edit page New page Hide edit links

Pan Orient Energy Corp.-2

Pan Orient Energy Corp. has completed the previously announced sale of its subsidiary Pan Orient Energy (Thailand) Ltd. (POET), which holds Pan Orient's 60% interest in Concession SW1 in Thailand and, indirectly through POET's subsidiary Pan Orient Resources (Thailand) Ltd., which holds Pan Orient's 60% interest in Concessions L44/43 and L33/43 in Thailand, for a cash price of USD $170 million plus USD $9 million for working capital and other adjustments.

USD $3 million was placed in escrow at closing to support any warranty claims by the purchaser and USD $16 million has been placed in escrow at closing pending verification of certain items in the agreement.

Tags: Pan Orient Energy Corp.



Related links


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
Aker - Haugan
New Chief Executive Officer of Aker Energy Feb 23, 2018 Jan Arve Haugan has been appointed as Chief Executive Officer of the newly established oil company Aker Energy, effective 1 March 2018. Haugan is currently the President & CEO of Kværner ASA.
Rystad Energy - Borr Drilling takes charge of the jackup market
Borr Drilling Goes From Empty-Handed to the Largest Jack-Up Driller In Just 16 Months Feb 23, 2018 “It is remarkable what Tor Olav Troim has achieved in such a short amount of time. Going from two jack-ups in December 2016 to becoming the largest jack-up provider...” says Oddmund Føre, vice president of oilfield service research at Rystad Energy.
VesselsValue logo
Borr Drilling Takes Over Paragon Offshore to Expand MODU Fleet Feb 23, 2018 Borr Drilling’s acquistion of Paragon Offshore will create a USD 3.57 billion MODU fleet.
Southwest Research Institute (SwRI) - IMSF2
SwRI to Host Inaugural International Multiphase Flow Separation Symposium Feb 23, 2018 Southwest Research Institute is bringing together oil and gas industry experts for the International Multiphase Flow Separation Symposium (IMFS2), to be held April 25-26, 2018, at SwRI’s headquarters...

[ In News ]

Energy Demand Grows as Fuel Mix Continues to Diversify
Unique Group Launches Unique Equipment Manager
Archer to Provide Casing Accessories and Cementing Equipment in Asia Pacific
Wärtsilä and Maersk Drilling Create a Joint 25-Year Strategy for Thruster Services
Research Becomes Useful Technology for Society Through Strategic Partnership

 

 

 

 

 


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

 

About us | Contact | Privacy |  Terms | 
Editor: Michael Rogers
Copyright 1973-2013. Scandinavian Oil-Gas Online. ISSN 1500-709X. 
Tel: +47 22 44 72 70, Fax: +47 22 44 72 87

sitemap xml