Etablissements Maurel et Prom SA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Maurel & Prom SA Announces Exercise of Preemption Right in Mnazi Bay
Maurel & Prom SA announced the signature of the definitive documents effecting the exercise of its pre-emptive right regarding Cove Energy’s interest in the Mnazi Bay concession. As part of this transaction Maurel & Prom SA will pay a cash consideration of approximately USD 18.9 million to Wentworth at completion, and undertake to pay contingent consideration of up to USD 5.1 million should future Mnazi Bay natural gas production reach certain thresholds. Completion of the transaction is subject to government approval. Following the transaction, the Company would held 48.06% interest in development and production and 60.075% interest in exploration.
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