Deals - Joint Ventures | Capital Markets | Private Equity Activity
American Energy Partners Goes International; Eyes Australian JV
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The Directors of Armour Energy Limited has executed a non‐binding Letter of Intent (“LOI”) with American Energy – Acquisitions LLC, an affiliate of American Energy Partners, LP, whereby AEP and Armour will jointly further the exploration and development of Armour’s extensive oil and gas prone McArthur Basin Project in the Northern Territory of Australia.
Under the LOI, the parties will work towards execution of definitive agreements within 3 months, subject to up to 3 extensions of up to 3 months each, at AEP’s election upon payment of US$250,000 in cash to Armour for each extension.
Key terms of the LOI include: AEP will farm‐in to certain granted and pending tenements in the NT owned by Armour (as outlined within the blue border in Figure 1) (the “Farmin Tenements”) covering…- ✓ Full news archive — U.S., Canada & international coverage
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