Otto Energy acquires 50% interest in two Tanzania PSAs

Otto Energy Ltd has agreed to acquire 50% WI in two onshore Production Sharing Agreements (PSAs), Kilosa-Kilombero and Pangani, in Tanzania from Swala Oil & Gas (Tanzania) Ltd. Continue reading here..

Egdon Resources farms out 12.5% interest in onshore UK licence

Egdon Resources Plc has farmed out 12.5% interest in Petroleum Exploration and Development Licence 201 located in Nottinghamshire and Leicestershire, UK to Terrain Energy Ltd and Corfe Energy Ltd. Terrain and Corfe will each pay 12.5% of the cost of the planned Burton on the Wolds-1 exploration well to earn 6.25% interest. The transaction is subject to necessary approvals. Continue reading here..

Dragon Oil explores possible offer for Bowleven

Dragon Oil Plc, an oil explorer focused on Turkmenistan, has confirmed in a statement that it is in the preliminary stages of exploring a possible offer for Bowleven Plc, a company with a Market Cap of £348 million with operations focused in Cameroon and Gabon. Continue reading here..

Crescent Point Energy expands Bakken presence

PetroBakken Energy Ltd has agreed to sell certain non-core Southeast Saskatchewan assets to Crescent Point Energy Corp for C$427 million (US$428.341 million) in cash. The assets are located in the water flood area of the Viewfield Bakken light oil resource play. Continue reading here..

ConocoPhillips-Perenco deal analysis

ConocoPhillips has entered into an agreement with Perenco to sell its Vietnam business unit for $1.29 billion. The transaction is anticipated to close in H1-2012. HSBC Securities (USA) Inc has acted as an advisor to ConocoPhillips. Continue reading here..

ConocoPhillips bids adieu to Vietnam

ConocoPhillips has entered into an agreement with Perenco to sell its Vietnam business unit for $1.29 billion. The transaction is anticipated to close in H1-2012. This transaction is a part of the ConocoPhillips’ asset divestiture program of 2010-12 worth $15 billion to $20 billion. Continue reading here..

Sound Oil seeks partner for assets in Italy and Indonesia

Sound Oil Plc, in November 2011, has announced that there are opportunities to farm out several large scale assets possibly in Italy and Indonesia. Continue reading here..