One-Page Deal Sheet
Plains Exploration Farms-in with Pura Vida in Morocco
Plains Exploration & Production Company Pura Vida Energy Nl
Announced Date
January 03,2013
Close Date
January 03,2013
Transaction Type
Farm-In/Farm Out
Enterprise Value (EV)($MM)
15
Asset/Basin:
{"Essaouira Basin"}
TargetZones:
{"Mid Miocene","Lowe
Location
Region
Africa - North Africa
Country
Morocco
Transaction Details: Subscribe to see
Plains Exploration & Production Company today announces it has entered into a definitive agreement to participate in the significant and highly prospective exploration play offshore Morocco. Subject to customary closing conditions including the receipt of Moroccan governmental approvals, PXP will make a cash payment of $15 million to farm-in to Pura Vida Energy's (ASX:PVD) ("PVD") 75% working interest in the 2.7 million acre Mazagan permit area offshore Morocco. PXP will earn a 52% working interest and act as operator in exchange for funding 100% of the costs of certain specified exploration…
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