Nexen: Sale of interest in Perth Field
- October 2010
Petroleum has announced the proposed acquisition of UKCS Block 15/21
potential development assets from Nexen Petroleum UK. The Company has
also announced a placing to raise £16 million and readmission
to trading on AIM.
Conditional agreement to acquire 42.08 per cent. working interest in
certain licence areas in UK Central North Sea from Nexen;
Proposed placing of ordinary shares to raise £16 million (before
expenses) at 45 pence per ordinary share;
Proposed acquisition consititutes a reverse takeover under AIM rules
- shareholder approval to be sought at general meeting;
Application to be made to London Stock Exchange for enlarged share capital
to be admitted to trading on AIM;
Licences to be acquired are P588 (Blocks 15/21c (All) and 15/21b (Residual
Area)) and P218 (Block 15/21a (Residual Area)), referred to as Perth
Core, Perth North, Perth Beta Terrace and Perth Beta East;
Temporary suspension expected to be lifted on 8 October 2010 upon publication
of AIM Admission Document.
acted as advisors to Nexen Petroleum.