Disposition of Papua New Guinea Back-Inhttps://www.wallstreet-online.de/diskussion/1134444-4021-4030/transeuro-energy-ist-nun-auch-an-der-osloer-oelboerse-gelistet
Calgary, Canada: - Transeuro Energy Corp. ("Transeuro" or the "Company") announces that it has closed a transaction with Eaglewood Energy Inc. ("Eaglewood"), to release the Company's back-in option for 10% of Eaglewood's licenses in Papua New Guinea, in exchange for a cash settlement from Eaglewood of USD 800,000.
The Company's CEO David Worrall commented "We believe that the potential of our existing core assets in Canada and Ukraine outweighs the benefit of the back-in option when we consider the option exercise price to access the 10% is estimated to be around $18 million. We are pleased to have concluded the sale of the back-in option, as it allows Transeuro to focus on its Ukraine and Canadian properties with nearer term potential".