One-Page Deal Sheet
Esrey Farms-In with Heritage in PNG
Esrey Energy Ltd. Heritage Oil Plc
Announced Date
June 02,2014
Close Date
April 22,2013
Transaction Type
Farm-In/Farm Out
Location
Region
Austral-Asia
Country
Papua New Guinea
Transaction Details: Subscribe to see
Amendment - June 2, 2014
Esrey Energy Ltd. has announced that its subsidiaries, Telemu No. 18 Limited, LNG Energy Limited and LNG Energy No. 2 Limited, have entered into an amendment to their farm-in agreement with wholly owned subsidiaries of Heritage Oil Plc in Papua New Guinea.
In exchange for extension of the deadline to spud the first exploration well from October 1, 2014, to December 31, 2015, the Farm-in Agreement has been amended to provide that:
The Company will receive a further cash payment of US$2,500,000 within 14 days; Heritage will now carry Telemu for 30% of the cost of a…| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
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