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
Statistics Lithuania has calculated that, based on provisional data, FDI in Lithuania in 2009 amounted by 5.3 % more than in 2008. Also, direct investment of Lithuanian enterprises abroad grew by 13.9 % in 2009.
more »
Concerns about foreign fish being sold in Europe and what to do about the future of Europe's fisheries industry were aired in a hearing held by the Fisheries Committee on 8 April.
more »
EU opens public debate on its agricultural policy, the prelude to a major reform in 2013.
more »
The European Commission today launched a €35 million call for eco-innovation projects to be funded under the Competitiveness and Innovation Programme.
more »
Bank SNORAS group company Finasta Holding recruits all funds management and investment companies of the group in the Baltic States.
more »
The European Central Bank (ECB) and the European Commission are jointly holding a high-level conference on financial integration and stability at the ECB’s premises in Frankfurt am Main.
more »
Today, the European Central Bank (ECB) is publishing its fourth Report on Financial Integration in Europe, which notes the return towards integration in the European financial markets.
more »
World Bank Group financial commitments since July 2008, just before the full fury of the financial crisis hit, reached US$ 100 billion today as the institution helped countries respond to and recover from the global downturn.
more »
On March 31, 2010, the Executive Board of the International Monetary Fund concluded the Article IV consultation with Serbia.
more »
The International Monetary Fund and the United Kingdom’s Department for International Development have launched a new project to improve macroeconomic statistics in 23 African countries. DFID will provide US$7.5 million over the next five years to support the project.
more »