GREY:SMBZF - Post by User
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kolokoyon Mar 27, 2013 9:49am
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Post# 21173985
Liberian Legislature Approved lb-13 psc
Liberian Legislature Approved lb-13 psc
OUr neighboor got it done. We are next!
Liberian Legislature Ratifies Amended Production Sharing Contract For LB-13
Wednesday, March 27, 2013
CALGARY, March 27, 2013 /CNW/ - Canadian Overseas Petroleum Limited ("COPL" or "the Company") (TSX-V: XOP), is pleased to announce that the Liberian Legislature, consisting of the Senate and the House of Representatives, has voted in favour of ratifying the Restated and Amended Production Sharing Contract for offshore Block LB-13. Closing and completion of the previously announced transactions between the Company's wholly owned subsidiary Canadian Overseas Petroleum Bermuda Limited "(COPLB")—first with Peppercoast Petroleum plc, and second with ExxonMobil Exploration and Production Liberia Limited ("ExxonMobil")—is expected to occur in the next few weeks subject to the satisfaction of certain closing and completion conditions. Once the transactions have closed, COPL will have a 20% working interest in Block LB-13, with ExxonMobil the operator, having an 80% working interest.
https://www.theglobeandmail.com/globe-investor/news-sources/?date=+20130327&archive=cnw&slug=C8647