Brief: Oryx Petroleum Agrees To Divest Interests In Haute Mer B License

Forza Petroleum

23/04/2018 12:13

April 23 (Reuters) - Oryx Petroleum Corporation Ltd
 OXC.TO :
    * PRESS RELEASE - ORYX PETROLEUM ANNOUNCES AGREEMENT TO
DIVEST
INTERESTS IN HAUTE MER B LICENSE
    * ORYX PETROLEUM CORPORATION LTD - ORYX PETROLEUM'S
INTERESTS IN
HAUTE MER B WILL BE TRANSFERRED FOR CASH CONSIDERATION OF $8
MILLION
    * ORYX PETROLEUM - CO'S UNIT HAS ENTERED INTO A FARMOUT
AGREEMENT
WITH A SUBSIDIARY OF TOTAL S.A.
    * ORYX - TOTAL S.A. UNIT TO REIMBURSE CO FOR COSTS INCURRED
BY IT
IN RELATION TO HAUTE MER B BETWEEN JAN. 1 & DATE OF FARMOUT
AGREEMENT
    * ORYX - REIMBURSEMENT, CARRYING CO'S SHARE OF COSTS TO
RESULT IN
FURTHER PAYMENT TO CO, AT DEAL CLOSE, OF ABOUT $5.3 MILLION

Source text for Eikon:  ID:nCNW1fPw9a 
Further company coverage:  OXC.TO 

 ((Reuters.Briefs@thomsonreuters.com;))