Nelson Resources completes acquisition of a 50% participatory interest in the North Buzachi oil field in western Kazakhstan
Published:
8 February 2004 y., Sunday
Nelson Resources Limited (TSX: NLG) announced today that it has completed the final phase of the acquisition of a 50% interest in the hydrocarbon license to North Buzachi oil field. As previously announced, a 35% interest in the license to the field was purchased for US$58
million from CNPC International, an affiliate of the China National Oil
Company.
Having now received the necessary government approvals and paid to
CNPC International US$ 32 million, the transfer of the remaining 15% interest in the license has been completed.
As previously disclosed, financing of US$90 million has been provided
under an interim financing facility arranged through Credit Suisse First
Boston, London Branch. Subject to further negotiation, it is expected that the interim facility will be replaced by a term loan facility.
Also as previously announced, a definitive Joint Operating Agreement was
executed by the parties allowing for the operation of the field through a
joint operating company, in which both parties will share, on a 50/50 basis, decision making authority and funding responsibility.
Šaltinis:
CNW
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
A specific EU budget line for the new EU stabilisation mechanism should be created as soon as possible, to ensure its credibility, Council, Commission and Parliament negotiators agreed at a three-way meeting on Wednesday.
more »
New EU rule will help phone-users avoid astronomical bills for web-surfing and downloads abroad.
more »
The Communication approved today by the Commission builds on the principles presented on 12 May to reinforce the economic governance in the European Union.
more »
Eurostat report just published shows that the crisis has brought some lower taxes.
more »
New legislation is needed to ensure fair returns to farmers and transparent prices to consumers, by enforcing fair competition throughout the food supply chain, said Agriculture Committee MEPs on Monday.
more »
Fish imports play a crucial role in supplying the European market, yet fisheries and aquaculture are strategic sectors that do not lend themselves to a purely free-trade approach, believes the EP Fisheries Committee.
more »
I will support every proposal that strengthens cooperation among the European Union's Member States and serves Lithuania's interests," President of the Republic of Lithuania Dalia Grybauskaitė said at the meeting with EU Member States' ambassadors resident in Lithuania.
more »
The fourth World Lithuanian Economic Forum “High tech innovation & investment: local to global” will start in London on 22 June.
more »
Lithuania aims for the five Nordic countries and three Baltic States to become single community of values, which would be linked by a versatile quality of democracy, security and everyday life.
more »
MEPs decided on Wednesday to create a special committee to prepare for the EU's next long-term budgetary framework.
more »