One-Page Deal Sheet
Solimar Drops Interest in San Joaquin Tejon Ranch Prospect
Avere Energy Inc., North American Oil & Gas Corp. Solimar Energy Limited
Announced Date
August 12,2013
Effective Date
August 01,2013
Transaction Type
Farm-In/Farm Out
Asset/Basin:
{"San Joaquin Basin"}
TargetZones:
{"Temblor Sandstone"
Transaction Details: Subscribe to see
Solimar Energy Limited has reported the sale of 47.5% of its 57.5% working interest along with operatorship in the leases located in the Tejon Ranch area of the San Joaquin Valley to its partners for a consideration of US$250,000.
Under the terms of the agreement Solimar has sold 28.75% of its 57.5% working interest in the leases to Avere Energy Corp. and 18.75% of its 57.5% working interest and operatorship in the leases to North American Oil and Gas (NAMG). The resultant working interest division in the leases is Solimar 10%, NAMG 40%, and Avere 50%.
The sale reflects the continued efforts…
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