REG - Roxi Petroleum Plc - Update on the sale of Galaz <Origin Href="QuoteRef">RXP.L</Origin>

Caspian SunriseAnnouncement

16/07/2015 10:45

RNS Number : 0280Q
Roxi Petroleum Plc
12 June 2015
Roxi Petroleum PLC
("Roxi" or the "Company")
Update on the sale of Galaz
Further to the announcement of 1 June 2015 extending the completion date of the sale of the Company's equity and debt interests in the Galaz Contract Area to a consortium led by Xinjiang Zhundong Petroleum Technology Co, a Chinese publicly traded conglomerate, (the "Galaz Disposal"),Roxi, announces that it has received the repayment of the $6.9 million loan.
A payment of $27 million to Roxi's subsidiary Galaz Energy BV remains outstanding, of which $16 million will be attributable to Roxi. These amounts are expected to be received within the next week.
Once received formal completion of the sale will take place.
Enquiries:
Roxi Petroleum PLC
Clive Carver, Chairman
+7 727 375 0202
WH Ireland
Nominated Adviser & Broker
James Joyce / James Bavister
+44 207 220 1666

This information is provided by RNS
The company news service from the London Stock Exchange
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