One-Page Deal Sheet
Newton to Sell Subsidiary to Hutton Energy
Hutton Energy Newton Energy Corporation
Announced Date
July 03,2014
Close Date
November 14,2014
Transaction Type
Corporate
Asset/Basin:
{"UK Onshore - East Midlands"}
Transaction Details: Require Private Equity Subscription
Newton Energy Corporation has announced that it has entered into a term sheet with Hutton Energy Plc to sell 100% of its wholly-owned subsidiary, Newton Energy UK Limited.
Newton has agreed to sell Newton UK for: (i) £500,000 payable upon the execution of a definitive agreement; (ii) £250,000 payable on June 30, 2015; (iii) Hutton granting the Company a 5% gross overriding royalty on any hydrocarbons sold under the licences to a maximum of £2,000,000; (iv) Hutton funding 100% of the costs to drill and complete or abandon one well on the Newton UK licences; (v) Hutton funding 100% of the…| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| May-03-2022 |
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| Mar-18-2021 |
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| Feb-24-2021 |
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| Oct-16-2019 |
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| Sep-26-2019 |
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