Scandoil  

Wessex Exploration complete of acquisition of Hague and London Oil BV


Published Oct 28, 2014
Wessex Exploration

Wessex Exploration PLC has completed the acquisition of Hague and London Oil BV (HALO), following the announcement of the exchange of Heads of Agreement on 12 May 2014. HALO is led by an established management team with significant public market experience and a proven track-record in successfully developing international oil and gas exploration companies. Completion is conditional on admission to trading on AIM of the new ordinary shares being issued as consideration for the acquisition.

HALO brings US$1 million in cash and a 15% interest in the highly prospective Service Contract 54A (SC54A) in the Northwest Palawan Basin, offshore Philippines. The licence block contains a number of existing discoveries in shallow water, along with further exploration potential. A retention licence was recently awarded to the SC54A partners for a period of three years.

Tags: Wessex Exploration PLC




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