Beach Energy announced the sale of its subsidiary in Egypt “Beach petroleum” to Rockhopper Exploration, reported Oil voice. Beach Petroleum’s core asset in Egypt is a 22% interest in the Abu Sennan Concession and a 25% stake in the El Qu’a Concession. London South East remarked that the acquisition deal is worth $22m, and will be paid $11.5m in cash and $10.5m worth of Rockhopper shares. No details regarding the number of shares to be issued was announced, except that the pricing would be based on the volume-weighted average price of Rockhopper’s shares in the 30 days prior to completion of the deal.
Rockhopper Exploration Buys Beach Petroleum Egypt
Monday, 10th August 2015
Wednesday, 13th September 2017
Alexandria Petroleum Company announced its latest investment figures, which amount to EGP 33.9 billion.
Wednesday, 16th August 2017The National Bank of Egypt (NBE) and Banque Misr are securing a EGP 3 billion loan for General Petroleum Company (GPC) to fund exploration and drilling activities, as well as debt restructuring.
Monday, 14th August 2017he Egyptian Cabinet and Parliament approved the signing of contracts with US Apache, APEX International Energy, and Royal Dutch Shell, as the companies won five concession areas in the Western Desert.
Tuesday, 25th July 2017Schlumberger won a one-year contract from Oman-based Petrogas Kahil for the drilling of three exploration wells in Block 55.