AIM-listed Beacon Energy, the energy company seeking growth through acquisition or farm-in to interests in discovered upstream projects, has provided an update on the proposed transaction to acquire the entire issued and to be issued share capital of Rhein Petroleum.
hallenger Energy has entered into a binding heads of terms with Predator Oil & Gas providing for (i) the conditional sale of the Company s interest in the non-producing Cory Moruga licence in Trinidad, (ii) a framework for future CO2 collaboration between the Company and Predator, and (iii) a mutually agreed settlement in relation to all matters relating to the Inniss-Trinity CO2 enhanced oil recovery pilot project.
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