The companies have signed a legally binding sale and purchase agreement with Angola’s state-owned oil company for a total consideration of US$335.5 million.
The joint Sirius-Somoil consortium has signed a legally binding Sale and Purchase Agreement ( SPA ) with Sonangol, Angola’s state-owned oil company, to acquire participating interests of 8.28% and 10% respectively in the producing Angolan offshore Blocks 18 and 31 and a 25% participating interest in the exploration Block 27, for a total consideration of US$335.5m.
Based upon the preliminary assessments of the Jade well results and the ongoing agreement with its partner, China National Offshore Oil Company ( CNOOC ), to further cooperate with regards to follow up post well analysis, it is Empyrean s current intention to proceed with the second phase of exploration at Block 29/11 and to participate in the drilling of the Topaz prospect.
Zephyr Energy, the Rocky Mountain oil and gas company, has announced the results from an updated Competent Person s Report ( CPR ) on its assets in the Paradox Basin, Utah, U.S.