Brief: Dome Energy completes sale of US operations; evaluates alternatives

Hotel Fast SSE AB (publ)

22/05/2015 07:30

May 22 (Reuters) - Dome Energy publ AB  DOMEN.ST : 
    * Dome Energy completes sale of US operations 
    * Proposed transaction, will see Dome Energy AB shareholders receive about 152.6 million 
shares of PEDEVCO common stock, representing about 64 pct of total shares in newly merged entity 
    * Intention is that, following the completion of the sale of the US assets, net proceeds of 
transaction (shares in PED) will be distributed to shareholders of Dome Energy AB 
    * Will evaluate alternatives for continuation of Dome Energy AB and present a plan at annual 
general meeting on June 25 
    * Says at closing, Dome Energy Inc.'s CEO and President, Paul Morch, will become CEO and 
President of combined entity, with current CEO of PEDEVCO, Frank Ingriselli, becoming Chairman 
of Board 
    * Says companies expect to complete transaction no later than November 19, 2015 
    * Says companies anticipate that combined production for merged entity will be about 3,300 
boepd with proven reserves of about 20 million barrels of oil equivalent 
 
 
    Source text for Eikon:  ID:nWkrev7464  
 
    Further company coverage:  DOMEN.ST  
 
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