One-Page Deal Sheet
Solimar Energy Tweeks Kreyenhagen Heavy Oil Deal
Not Disclosed Solimar Energy Limited
Announced Date
December 23,2013
Transaction Type
JV
Enterprise Value (EV)($MM)
2
Asset/Basin:
{"San Joaquin Basin"}
TargetZones:
{"Temblor Sandstone"
Location
Country
United States
State
California
Transaction Details: Subscribe to see
Amendment Announcement - February 3, 2014
Solimar Energy Limited has entered into an amending agreement with its joint venture partner in the Kreyenhagen Heavy Oil Project, in California.
Following the LOI announced on December 23, 2013, the amending agreement reduces the JV Partner's Farm-in commitment to $1.8 million with a proportional reduction in the earned Working Interest from 15% to 13.5 % and confirms that the JV Partner will not participate in a second farm-in phase to earn additional rights or working interest.
The JV Partner will participate in the ongoing testing and capital…
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