Equatorial Guinea: Tullow completes sale of its assets in Equatorial Guinea to Panoro Energy
01 Apr 2021
Equatorial Guinea to
Panoro Energy has now completed. Tullow has received a payment of $88.8 million from Panoro.
As previously disclosed, this transaction also includes contingent cash payments of up to $16 million which are linked to asset performance and oil price. The closing of this transaction follows the satisfaction of all completion conditions, including the approval from the Government of Equatorial Guinea and Tullow and Panoro shareholders and other customary third-party approvals.
Although Tullow will continue to have a financial link to the assets in Ceiba and Okume fields, the closing of this transaction marks Tullow’s exit from its licences in Equatorial Guinea after 18 years. On receipt of funds, Tullow has net debt of c. $2.3 billion and liquidity headroom of c. $1 billion.
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ROSH HA AYIN, Israel, April 1, 2021 /PRNewswire/ Aquarius Engines (TASE: AQUA) has signed a memorandum of understanding with Japanese auto-parts manufacturer TPR, focused on cooperation between TPR and Aquarius s soon-to-be established Japanese subsidiary.
Aquarius Engines is in the process of establishing a sister company in Japan with the aim of promoting and strengthening ties with existing Japanese partners, which include Honda-affiliate Musashi Seimitsu and TPR.
The 10kg super efficient Aquarius Engine (Credit: David Katz) (PRNewsfoto/AQUARIUS ENGINES)
Aquarius Japan will work to create strategic partnerships across Asia and promote more business opportunities in the Japanese market. In addition to research and development to adapt the patented Aquarius linear engine to operate on hydrogen and penetrate the Japanese automobile market.
US: Zephyr Energy completes acquisition of oil producing interests in the Bakken Formation
01 Apr 2021
AIM-listed
Zephyr Energy, the Rocky Mountain oil and gas company focused on responsible resource development, has announced the completion of its acquisition of non-operated working interests in currently producing and near-term production wells in the Bakken Formation, North Dakota, USA, as announced on 29 March 2021.
All conditions of the Acquisition were satisfied yesterday, including the transfer of title of the Bakken Interests to Zephyr and the release of the Operator liens, and all payments due in respect of the Acquisition have also been made, including payment of approx. $3.7 million for historical capital expenditure obligations and $300,000 to the Seller ($50,000 having already been paid in a non-refundable deposit).
From: Fisheries and Oceans Canada
The inshore fisheries of Canada’s East Coast are often family-run businesses that drive rural, local, regional, and national economies. The fisheries are the pride of our coastal communities, and the Government of Canada is committed to supporting their growth and prosperity.
Ottawa, Ontario – The inshore fisheries of Canada’s East Coast are often family-run businesses that drive rural, local, regional, and national economies. The fisheries are the pride of our coastal communities, and the Government of Canada is committed to supporting their growth and prosperity.
In December 2020, Fisheries and Oceans Canada published amended regulations that aim to strengthen and protect the independence of licence holders in commercial inshore fisheries in Atlantic Canada and Quebec.