One-Page Deal Sheet
Esrey, BNK Augment Baltic Basin Portfolio via Saponis Interest
BNK Petroleum Inc., Esrey Energy Ltd. Saponis Investments Sp. Z O.O.
Announced Date
December 23,2013
Effective Date
December 31,2013
Transaction Type
Farm-In/Farm Out
Asset/Basin:
{"Baltic Basin"}
Transaction Details: Subscribe to see
Esrey Energy Ltd. has entered into a binding agreement to add to its holdings in Poland's Baltic Basin through the acquisition of additional interest in Saponis Investments Sp. z o.o.
The Company and BNK Petroleum Inc. have agreed to acquire the interests of the other two Saponis shareholders on a pro-rata basis. As of December 31, 2013, Esrey will hold a 42.96 % interest in Saponis.
David Nelson, President and CEO of Esrey, commented: "The acquisition of additional interest in the Baltic Basin is consistent with our long-stated objective of maintaining optionality in our holdings in Poland…
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