One-Page Deal Sheet
Providence Sells UK Assets to IGas
Not Disclosed Providence Resources, Inc.
Announced Date
September 28,2012
Close Date
February 28,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
66
Asset/Basin:
{"Weald Basin"}
Location
Region
Europe
Country
United Kingdom
Transaction Details: Subscribe to see
Providence Resources P.l.c., has signed a binding Heads of Agreement with IGas Energy PLC in relation to the divestment of its onshore UK producing, development and exploration assets.
Under the terms of the Heads of Agreement, IGas has agreed to acquire Providence's 100% interest in the Singleton oil field, located in UK Production Licence (PL) 240, as well as its 50% operated interest in Petroleum Exploration and Development Licence (PEDL) 233, which includes the Baxter's Copse oil discovery and Burton Down exploration prospect. Both of these licences are located in West Sussex, onshore…
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