One-Page Deal Sheet
Magellan Petroleum Lets Go of U.K. Weald Basin Assets
Uk Oil & Gas Investments Magellan Petroleum Corp
Announced Date
June 13,2016
Close Date
August 11,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
2
Asset/Basin:
{"Weald Basin"}
Transaction Details: Subscribe to see
Magellan Petroleum Corporation announced the sale of the Company's 50% interests in Petroleum Exploration and Development License (PEDL) 234 in the Weald basin in the UK to UK Oil and Gas Investments PLC (UKOG) and the settlement of its litigation with Celtique Energie Weald Limited for approximately $1.8 million.
On June 10 2016, Magellan Petroleum (UK) Limited (MPUK), a wholly owned subsidiary of Magellan, entered into i) an Asset Transfer Agreement relating to the sale to UKOG of MPUK's 50% interests in PEDLs 231, 234, and 243, ii) an Asset Transfer Agreement relating to the sale to UKOG…
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