Iona acquires 58.8% interest in West Wick oil discovery from Centrica for $8.2M

Iona Energy has signed an agreement to acquire 58.73% WI, including operatorship, in the West Wick oil discovery on UK Block 13/21a from Centrica Venture Production Company for $8.15 million. Iona will pay a deposit of $3.15 million, and on completion will pay the remaining $5 million. Post-transaction ownership structure of the block – Iona Energy (58.73%, operator) and Idemitsu (41.27%). Continue reading here...