Cairn is selling its Norway business for US$100 mm to Solveig Gas. This includes Cairn’s residual 10% interest in Nova and the company’s exploration acreage. The transaction is effective 01/01/2020. We understand that the net working capital position is negligible.
27 Nov 2019
FLASH: Exiting Norway to boost balance sheet
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FLASH: Exiting Norway to boost balance sheet
Capricorn Energy PLC (CNE:LON) | 176 0 0.0% | Mkt Cap: 161.6m
- Published:
27 Nov 2019 -
Author:
Stephane Foucaud -
Pages:
2
Cairn is selling its Norway business for US$100 mm to Solveig Gas. This includes Cairn’s residual 10% interest in Nova and the company’s exploration acreage. The transaction is effective 01/01/2020. We understand that the net working capital position is negligible.